Crypto Exchange Bybit announced on Friday that a “sleek attack” led to the theft of Ethereum (ETH) from one of the company’s offline wallets.
Bybit CEO and co-founder Ben Zhou said in the live stream that the hackers stole around 401,346 ETH.
Both crypto security company Elliptic and crypto security researcher ZachxBT said the total amount of stolen ETH is worth around $1.4 billion, the largest known cipher theft in history. Previously, the highest encryption violations were hacking against Ronin and poly networks. As a result, data collected by Rekt, a website that tracks Web3 and Crypto breach, revealed that $624 million and $6111 million were lost, respectively.
“In fact, it could be the biggest single theft ever,” Elliptic co-founder and chief scientist Tom Robinson said on TechCrunch, noting that it was not just data breach, but all sorts of theft. I spoke.
According to Financial News Site World Finance, the nearly $1 billion withdrawal from the Central Bank of Iraq, ahead of Bybit’s violation, is said to be the largest bank robbery in history.
Zhou refers to X, a digital wallet where hackers “control” one of the company’s cold wallets and store cryptocurrency, but in theory it is not connected to the internet and its funds are “warm” wallets It says it will be forwarded to. online.
When contacted for comment, Bybit spokesman Tony Au mentioned Zhou’s public disclosure. In one post, Zhou wrote that even if the stolen funds cannot be recovered, the company is “solvent” and “can cover the losses.”
According to CoinmarketCap, BYBIT, based in Dubai, United Arab Emirates, had estimated its total assets of $16 billion last week.
With everything in 2024 in mind, the total amount of codes that hackers were stolen was around $2.2 billion in all of 2024, according to blockchain tracking company Chain Orisis. Also, in 2023, it was estimated at around $2 billion, according to multiple estimates.
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