Bybit said it successfully navigated the biggest cryptocurrency heist ever recorded, in which hackers stole about $1.5B in digital assets from the crypto exchange's ethereum cold wallet. Hackers stole over 400,

Hackers stole $1.5 billion worth of Ethereum from Dubai-based crypto exchange Bybit in what is believed to be the largest digital heist to date. The breach occurred during a routine transfer from a cold wallet,

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

The exchange, facing a bank run and needing to process withdrawals, worked to secure a loan and developed new software to access frozen funds.

The crypto industry is rallying to recover funds stolen in the $1.5 billion Bybit hack, with exchanges freezing nearly $43 million just two days after the attack. A coordinated effort among centralized and decentralized platforms has led to the swift blacklisting of hacker-linked addresses,

Bybit, a major cryptocurrency exchange based in Dubai recently announced it had been hacked, losing $1.5 billion worth of the cryptocurrency Ethereum in the largest cryptocurrency theft of all time. Putting it into perspective,

Bybit is a well-known cryptocurrency exchange with more than 60 million users. It’s regularly ranked among the top five cryptocurrency exchanges online by volume. The hack was disclosed on Feb. 21. The company said an attacker gained control of an Ethereum wallet and transferred the holdings in the wallet to an unknown address.

Cruel hackers have stolen over £1billion in cryptocurrency in what has been described as the "worst hack in history". Dubai-based Bybit exchange revealed that a hacker took control of an Ethereum wallet and transferred its assets to an anonymous address.