On February 21, 2025, the cryptocurrency exchange Bybit suffered a significant hacking attack. The hackers used sophisticated phishing techniques to successfully manipulate Bybit's ETH cold wallet signature interface, transferring over $1.46 billion worth of Ether and staked Ether to unknown addresses. After the incident, Bybit immediately launched an investigation, confirming that only the ETH cold wallet was affected, while other wallets remained secure. The exchange swiftly took measures to assure users of its solvency and committed to ensuring customer asset backing to alleviate user concerns. At the same time, Bybit strengthened its security systems to prevent similar incidents from occurring again and reminded users to enhance the security measures of their personal accounts. This incident once again highlights the security challenges facing the cryptocurrency industry, raising widespread concern in the industry regarding platform security and user asset protection. Bybit is collaborating with relevant law enforcement agencies to track the stolen funds and is working to restore the asset security of affected users.