#BybitSecurityBreach

Bybit, a cryptocurrency exchange, suffered a massive security breach on February 21, 2025, losing over $1.46 billion in Ethereum and other ERC-20 tokens. The hacker exploited a vulnerability in Bybit's multi-signature cold wallet, draining the funds. The stolen funds are believed to be linked to North Korea's Lazaric Group. Bybit received $4 billion in liquidity support and processed a record number of withdrawals, with over 350,000 requests completed in 10 hours.