Bybit saw $5.5 billion in outflows following crypto’s biggest hack
Cryptocurrency exchange Bybit has experienced total outflows exceeding $5.5 billion after suffering a $1.4 billion security breach, reportedly carried out by hackers linked to North Korea’s Lazarus Group. The attackers targeted the exchange’s ether cold wallet, prompting Bybit to secure emergency funding to maintain withdrawal operations.
Overall, the crypto community is reassured by Bybit’s ability to manage over $6 billion in withdrawals following the hack.
Bybit closes its ETH gap after a $1.4B hack, with a new Proof of Reserves report confirming full asset coverage.
Market intelligence platform CryptoQuant says that the Ethereum (ETH) reserves of Bybit are recuperating after the crypto ...
Investigation revealed that BingX, & Phemex hacks were also connected to the same cluster as Bybit's, confirming the threat ...
North Korean hackers have begun laundering $140 million of the $1.46 billion stolen from Bybit through anonymous exchanges ...
Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented ...
The exchange reportedly replenished the Ethereum deficit through a combination of loans, whale deposits, and direct purchases ...
Recently, the theft of $1.5 billion from Bybit exchange has reignited security concerns among Web3 industry investors. ...
Mark Cuban dismisses Bybit’s $1.4 billion hack as having "no implications" for crypto but questions whether the exchange has ...
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