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Cyber-attack steals USD1.4B from crypto exchange Bybit
(MENAFN) A crypto exchange, Bybit, reported on Friday that a cyber-attack connected to a cold wallet resulted in a loss of 401,346 Ethereum (USD1.4 billion).
Chief Executive and co-founder Ben posted on X that the fraud is just connected to Ethereum cold wallet, "warm wallet and all other cold wallets are fine."
"Bybit is Solvent even if this hack loss is not recovered, all of client’s assets are 1 to 1 backed, we can cover the loss," he also stated.
Tom Robinson, co-founder and chief scientist of crypto security firm Elliptic, made a post on LinkedIn: "Almost USD1.5 billion in crypto was stolen from Bybit today. That makes it by far the largest crypto heist of all time."
"It's also potentially the largest single theft of any kind, ever," he mentioned as well.
He emphasized that his company is doing efforts to help exchanges and law enforcement track then freeze the money.
Chief Executive and co-founder Ben posted on X that the fraud is just connected to Ethereum cold wallet, "warm wallet and all other cold wallets are fine."
"Bybit is Solvent even if this hack loss is not recovered, all of client’s assets are 1 to 1 backed, we can cover the loss," he also stated.
Tom Robinson, co-founder and chief scientist of crypto security firm Elliptic, made a post on LinkedIn: "Almost USD1.5 billion in crypto was stolen from Bybit today. That makes it by far the largest crypto heist of all time."
"It's also potentially the largest single theft of any kind, ever," he mentioned as well.
He emphasized that his company is doing efforts to help exchanges and law enforcement track then freeze the money.
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