The recent Bybit hack resulted in the theft of nearly $1.5 billion in Ethereum, marking it as possibly the largest heist ever, according to experts. The exchange's CEO noted that a hacker manipulated a transaction involving a cold wallet, transferring all funds to an unidentified address. This incident surpasses previous cryptocurrency thefts and has impacted market prices. With Bybit's assets totaling $16.2 billion pre-hack, the theft accounted for about nine percent, reflecting the growing risks in cryptocurrency security.
The signing message was to change the smart contract logic of our ETH cold wallet, indicating a sophisticated manipulation of our security protocols during the hack.
This heist eclipses previous record crypto thefts, showcasing a significant evolution in how large-scale thefts are being executed in the digital age.
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