HOW WORTH OF 1.4B ETHEREUM STOLEN

In February 2025, Bybit, a prominent cryptocurrency exchange, experienced a significant security breach resulting in the theft of approximately $1.4 billion worth of Ethereum (ETH). The incident occurred during a routine transfer from a cold wallet to a warm wallet. Attackers manipulated the transaction interface, gaining control over the cold wallet and transferring its contents to an unidentified address.

Despite the substantial loss, Bybit's CEO, Ben Zhou, assured customers that the exchange remains solvent, with all client assets fully backed and unaffected wallets and withdrawals. The company is collaborating with blockchain forensic experts to trace and recover the stolen funds, which are reportedly being moved to new addresses.

This event underscores the ongoing security challenges within the cryptocurrency industry, which saw $2.2 billion stolen from various platforms in 2024 alone.