Hackers Attacked Bybit Crypto Exchange, Stealing Around $1.4 Billion

Co-founder and CEO of the Bybit crypto exchange Ben Zhou reported that the platform had been hacked. The attackers managed to withdraw about $1.4 billion in ETH and sell some to other buyers.

The scammers were able to gain access to the platform's wallet by bypassing the security system using a fake transaction. Experts from the Arkham analytics company also confirmed the outflow of a huge amount. The hackers are moving all the mined funds to different wallets and, at the time of writing, managed to sell some of the cryptocurrency for $400 million.

However, Bybit continues to operate as usual, Ben Zhou said. As for the hackers, they are already being searched for and identified.

Recall that in January, Bybit announced the removal of the sensational cryptocurrency from the creators of Hamster Kombat due to low liquidity.