‘Worst hack in historical past’ as $1.5bn in cryptocurrency stolen

Hackers have stolen $1.5bn (£1.19bn) value of digital cash in what might be the biggest-ever cryptocurrency theft.

The Dubai-based Bybit alternate stated an attacker gained management of an Ethereum pockets and transferred its holdings to an unidentified handle.

The agency, which has greater than 60 million customers worldwide, stated no different wallets had been affected and withdrawals had been continuing usually.

“Bybit is solvent even when this hack loss shouldn’t be recovered, all of purchasers property are 1 to 1 backed, we are able to cowl the loss,” the corporate’s chief government officer Ben Zhou stated in a publish on X.

The theft might be the biggest of its type, with the earlier file reportedly an estimated $620m (£490) of cryptocurrency stolen from the Ronin Community in 2022.

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Bybit stated its safety group, together with forensic consultants, was investigating the incident, including: “We have now reported the case to the suitable authorities.”

The agency stated: “All consumer funds are secure, and our operations proceed as common with none disruption.”