On February 21, 2025, one of the biggest hacking attacks in the crypto currency sector took place. Bybit, the third largest stock market in the market, received a major blow with a loss of $ 1.5 billion Ethereum.
What happened in Bybit Hack attack?
According to Onchain data, the attackers began to sell the funds they stole quickly. Bybit CEO Ben Zhou said in a statement that cold wallets are safe and withdrawal processes are normal.
However, according to experts, the attack was carried out sophisticated. Cyvers CTO Meir Dolaff said the attackers deceived bybit’s ETH Multisig’s cold wallet and deceived signs and confirmed a harmful smart contract change.
Zhou said that the stock market is financially strong and that customer assets have one -to -one equivalent and that the damage could be closed.
This incident was recorded as one of the largest crypto attacks in history, leaving behind the $ 600 million hacking attack in Ronin Network in 2022. Kriptokoin.comWe have included the first minutes of the Bybit hack attack in this article.
Experts warned: The same will be experienced again!
Metamask’s chief security researcher Taylor Monahan said that the threat that hit Bybit has been seen many times in the sector.
“Nobody is prepared for this attack method. This will be again again, Mon Monahan reminded that platforms such as Wazirx, Radiant Capital and DMM Bitcoin in the past have been hacked by similar methods.
- 2024 July: Wazirx – $ 235 million lost
- October 2024: Radiant Capital – $ 50 million lost
- 2024 December: DMM Bitcoin – 308 million dollars lost
The common point in all these attacks was that hackers deceived their owners by imitating the wallet interface of the projects. Mon You can’t see this, Mon Monahan stressed that the hackers deceived the system with a fake front face.
The Bybit attack once again revealed the inadequacy of security measures in the crypto world. Experts predict that such attacks will not stop and greater losses may occur in the future.
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