Bybit has announced that it has suffered a hack that resulted in the theft of $1.5 billion worth of Ethereum, making it potentially the largest cryptocurrency theft in history.
The company's founder, Ben Zhou, reassured users that their money was safe, confirming that the company would compensate for any losses. He explained that the stolen amount would be covered by the company's assets or through loans from its partners, as its assets are worth $20 billion.
The company said the hackers exploited security vulnerabilities and transferred the funds to an anonymous address.