In a twist worthy of a theatrical farce, the digital realm has been rocked by whispers of calamity! The illustrious Bybit, a titan among crypto exchanges, has reportedly been breached, with a staggering $1.5 billion in virtual treasures spirited away into the ether. Yes, you heard it right—$1.5 billion! That’s enough to buy a small country or at least a very large yacht! 🛥️
As the news fluttered through the digital corridors like a panicked pigeon, the price of Bitcoin took a nosedive, plummeting faster than a cat off a hot tin roof. The altcoins, poor souls, followed suit, as if they were all part of a tragic ballet of despair. 💔
It appears that @Bybit_Official’s hot wallet has been given a rather rude awakening. A multi-signature wallet, mind you, but alas, it seems the hackers had a key or two up their sleeves. $1.5 billion worth of ETH has been whisked away to a new address, where it is currently being sold off like last season’s fashion! 🤑
More details below, if you dare!
— Finish (@0xFinish) February 21, 2025
The first inkling of trouble came from the ever-watchful Whale Alert, which reported a colossal transfer from Bybit to an unknown wallet—over 400,000 ETH, worth more than $1.1 billion! It was as if a digital heist movie was unfolding before our very eyes, complete with dramatic music and gasps of disbelief. 🎬
As the plot thickened, the infamous crypto detective, ZachXBT, took to his Telegram to confirm the chaos, declaring, “It’s a security incident!” Well, thank you, Captain Obvious! 🕵️♂️
As the clock ticked, Bybit remained silent, leaving the crypto market in a state of panic. Bitcoin, which had been flirting with the $100,000 mark, suddenly found itself in a downward spiral, losing over two grand in a heartbeat. The altcoins, bless their hearts, suffered even more grievous wounds, and the total market cap took a $70 billion hit faster than you can say “blockchain.” 💥
UPDATE:
In a dramatic turn of events, Bybit’s CEO, Ben Zhou, emerged from the shadows to shed light on the debacle. He confirmed the hack, explaining that an internal transfer between cold and hot wallets went awry, allowing a nefarious actor to seize control and whisk away the ETH to parts unknown. Talk about a bad day at the office! 😱
However, fear not! Ben assured us that all withdrawals are still operational, as only one wallet had been compromised. Phew! What a relief! 🙄
Bybit’s ETH multisig cold wallet just made a transfer to our warm wallet about an hour ago. It appears that this specific transaction was musked—yes, musked! All the signers saw the musked UI, which showed the correct address, but the signing message was a bit of a trickster…
— Ben Zhou (@benbybit) February 21, 2025
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2025-02-21 19:00