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,

Bybit has fallen victim today to one of the largest crypto hacks ever recorded, with hackers reportedly stealing over $1.4 billion worth of ETH.

Bybit has officially filled the $1.4 billion hole left by one of the biggest crypto hacks in history. CEO Ben Zhou announced that the exchange

Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday.

Bybit Web3, one of the world’s most visited crypto exchanges and an NFT marketplace, has closed the liquidity gap left after the recent hack.

In simpler terms, the hacked ether supply is likely lost permanently. Furthermore, Bybit, which has reportedly secured a bridged loan from unnamed partners to cover nearly 80% of the ether lost in the Friday hack, will likely need to purchase coins in the market.

Bybit Faces Unprecedented Industry Response A major cryptocurrency exchange, Bybit, has suffered a massive security breach, leading to the theft of approximately $1.5 billion worth of Ethereum. The incident took place late Friday evening when hackers exploited a routine transfer of funds from a secure offline wallet to a daily-use wallet.

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,