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

Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost US$1.5 billion worth of tokens in the biggest theft ever experienced in the industry. Read more at The Business Times.

The exchange, facing a bank run and needing to process withdrawals, worked to secure a loan and developed new software to access frozen funds.

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

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,

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 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.

Bybit is a well-known cryptocurrency exchange with more than 60 million users. It’s regularly ranked among the top five cryptocurrency exchanges online by volume. The hack was disclosed on Feb. 21. The company said an attacker gained control of an Ethereum wallet and transferred the holdings in the wallet to an unknown address.