In what is looking like largest ever theft from a cryptocurrency exchange, attackers took control of a <button class="define-target" id="hot-wallet">hot wallet</button> belonging to the Bybit cryptocurrency exchange and moved a massive amount of ETH-based tokens amounting to approximately $1.4&nbsp;billion in notional value (though it should be noted that that quantity of stolen tokens could not be quickly cashed out for that many dollars without affecting the ETH price).<p>Bybit CEO Ben Zhou confirmed the attack on Twitter, writing that an attacker used an advanced phishing technique to take control of the hot wallet. Zhou also promised "Bybit is Solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss."</p>

Archived tweet

Tweet by Ben Zhou:

Tweet #1

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