$1.5 billion.
That's the amount of money that has just been stolen by hackers from one of the world's biggest crypto exchanges.
On Friday,russian group sex videos Ben Zhou, cofounder and CEO of the crypto exchange Bybit, sharedthat hackers had gained control of Bybit's ETH (Ethereum) wallet and transferred all of its holdings to an unknown crypto wallet address.
This Tweet is currently unavailable. It might be loading or has been removed.
According to Bybit's holdings, that amounts to $1.5 billion in cryptocurrency that was stolen from Bybit and its customers, making this the largest ever cryptocurrency theft. However, as Molly White of Web3IsGoingGreatpoints out, the hacker can't exactly cash out $1.5 billion in Ethereum, because an amount that high would crash the value of ETH.
Still, valued at $1.5 billion, the Bybit heist would make up more than halfof the total amount of crypto stolen in 2024, according to a report from Chainalysis last year. The Chainalysis report found that $2.2 billion was stolen off of crypto platforms in 2024.
While Zhou seems to hope that the crypto lost in the heist will be recovered, he promisedBybit would cover the losses and let customers know they would receive a refund of any lost holdings.
This Tweet is currently unavailable. It might be loading or has been removed.
"Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss," Zhou posted on X.
Regardless, news of the hack rattled customers who started to withdraw their crypto holdings from the platform. According to GovInfoSecurity, a peak of $5.3 billion was withdrawn from the platform on Saturday night.
Bybit says it holds $20 billion in crypto assets.
In a poston Sunday, Bybit CEO Zhou said that the company has already closed the gap created by the heist from "loans, whale deposits, and ETH purchases."
It remains to be seen whether the stolen $1.5 billion in crypto will be recovered. Bybit has launcheda bounty program that will reward 10 percent or as much as $140 million for the return of the stolen funds.
"Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is calling on the brightest minds in cyber security and crypto analytics to join the global hunt for the perpetrators of crypto’s largest heist in history," the company said in a statement.
A Tiny Collection of Words
AAPI Leaders Address L.A. City Council Firestorm
Rafu Shimpo Stop Asian Hate Project
Rafu Shimpo Stop Asian Hate Project
Choreographer Nomura Interprets WWII Japanese American Experience
Little Tokyo Street Fair Set for Feb. 26
Changemakers Youth Summit to Be Held Virtually
Japanese Former Leader Abe Honored at Divisive State Funeral
‘Wide American Earth’ Opens
Rafu Shimpo Stop Asian Hate Project
Venice Buddhist Temple’s Obon This Weekend
Getting Out the Vote in J
UCLA Fielding School of Public Health Team Awarded NIH Grant for Study of Asian Immigrant Women
JANM Seeks Nominations for ‘30 Changemakers Under 30'
Benefit Dance Party for LTHS to Celebrate J
Zoom Event: ‘Mapping Lost Little Tokyo East’
Lennon's Killer Denied Parole for 12th Time
Matsui Showcases Sacramento’s Vision at White House Conference on Hunger, Nutrition and Health
‘Marvels & Monsters’ Explores Images of Asians in Comic Books
Yonsei Memory Project to Host Virtual DOR Artist Showcase
How to watch 'The Bear' Season 3: release date, streaming deals, and moreGet the 40Can you FaceTime on Android?Scary iOS 17.5 bug brings back old, deleted photos, including nudesMicrosoft Build 2024: What to expect'Dune: Part Two' review: Denis Villeneuve's sciAndroid 15: 3 gameReddit's deal with OpenAI is confirmed. Here's what it means for your posts and comments.Apple is exploring an even thinner iPhone for its 2025 lineupDrag queen fighting game 'Drag Her!' cancelled, to be released unfinished for free Bella Pro 4 Best smartwatch deal: Save $69 on Garmin vívoactive 5 'Paradise's apocalypse episode is absolutely unforgettable Best headphones deal: Save $150 on Beats Studio Pro Seattle Sounders vs. Antigua GFC 2025 livestream: Watch Concacaf Champions Cup for free TikTok's best financial advice Samsung 1TB T7 Portable SSD deal: save 39% at Amazon 'The White Lotus' Season 3, episode 2: Why doesn't Victoria like Kate? Best noise Corsair M75 Gaming Mouse deal: save $60 at Best Buy
0.1408s , 14282.375 kb
Copyright © 2025 Powered by 【russian group sex videos】The biggest crypto heist ever: $1.5 billion stolen from Bybit cryptocurrency exchange,Feature Flash
