Bybit, a cryptocurrency exchange, announced on Friday that hackers executed a sophisticated attack resulting in the theft of 401,346 ETH from an offline wallet. This theft amounts to about $1.4 billion, making it the largest known cryptocurrency heist to date. Tom Robinson from crypto security firm Elliptic suggested it could be the largest theft ever, surpassing even traditional bank robberies. CEO Ben Zhou reassured users that Bybit remains solvent and capable of covering the loss despite not being able to recover the stolen funds, which were transferred from a cold to a warm wallet.
Bybit's CEO Ben Zhou announced a theft of 401,346 ETH from an offline wallet, making it the largest known crypto theft in history.
Tom Robinson of Elliptic stated that this may be the largest single theft of all time, surpassing previous known breaches.
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