Bybit suffers major crypto heist: What happened and what it means for users

Cryptocurrency exchange Bybit has confirmed that one of its Ethereum cold wallets was compromised in a cyberattack, leading to the theft of approximately $1.5 billion worth of assets. The scale of the breach has sent shockwaves through the crypto community, raising fresh concerns about security vulnerabilities in the industry.

Bybit confirms breach but assures users

Bybit CEO Ben Zhou acknowledged the security breach on Friday, clarifying that the attack affected only a single Ethereum wallet. The company assured users that all other wallets remained…