22.02.2025 10:53
Bybit CEO Ben Zhou announced that he lost $1.4 billion following a major hack of an Ethereum wallet. Zhou described the attack as "the worst in history," stating that security measures would be strengthened and that withdrawal operations have returned to normal.
Bybit's CEO Ben Zhou described the cyber attack on the platform's Ethereum cold wallet, which resulted in the theft of approximately $1.4 billion worth of digital assets, as "one of the worst hacks in history." Zhou announced that withdrawal operations have returned to normal capacity following the attack and that security measures will be increased. This incident raises concerns about cryptocurrency security once again.
Bybit CEO Promises to Increase Security Measures After Hack
The cyber attack on the Ethereum cold wallet of the cryptocurrency exchange Bybit led to one of the largest losses in the history of the industry. According to a statement from the exchange's CEO Ben Zhou, the attackers seized approximately $1.4 billion worth of Ethereum and various digital assets. Following the incident, a trading volume of $200 million in stETH was recorded in the markets.
Zhou stated that they quickly brought the effects of the attack under control, announcing that withdrawal operations returned to normal within just twelve hours. Apologizing to users, the CEO said, "We have overcome this challenging process. You can now carry out all your withdrawal transactions smoothly. The system is operating at full capacity, and we assure you that there will be no delays."
The exchange's management announced that a comprehensive report regarding the incident will be prepared and that security measures will be increased. Zhou emphasized that they received an unprecedented volume of withdrawal requests during the crisis, with 99.994% of these requests being successfully completed.
Stating that the Bybit team worked tirelessly throughout the crisis to answer customer inquiries, Zhou expressed that all of the exchange's services continued uninterrupted. The company committed to taking additional security measures to prevent similar attacks and to regularly inform its users.