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Bybit suffers over $4 billion in "bank run" after cryptocurrency's largest hack
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7 hours ago 4,536
Golden Finance reported that after cryptocurrency exchange Bybit was hit by nearly $1.5 billion in hacking, its Ethereum cold wallet was emptied by hackers (that is believed to be from North Korea), with a total outflow of more than $5.5 billion. Bybit CEO Ben Zhou commented on the incident, highlighting the impact of loan coverage, user support and the temporary shutdown of Safe wallet features. The cause of the hack is unclear, and Bybit is investigating whether the problem lies with their laptops or on Safe's systems. Facing an exchange that is running on the bank and needs to process withdrawals, work hard to get loans and develop new software to access frozen funds.
Keywords: Bitcoin
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