Bybit Faces Biggest Hack in History
Bybit, the Singapore-based centralized crypto exchange, appears to have been hacked. Early estimates suggest the exchange has lost over $1.46 billion worth of ETH, though the investigation is ongoing.
The CEO described the hack on Bybit’s Ethereum multisig cold wallet, where attackers manipulated the signing interface to trick signers into approving a change in the wallet’s smart contract logic, allowing the theft of all ETH in that wallet.
Bybit, the Singapore-based centralized crypto exchange, appears to have been hacked. Early estimates suggest the exchange has lost over $1.46 billion worth of ETH, though the investigation is ongoing.
The CEO described the hack on Bybit’s Ethereum multisig cold wallet, where attackers manipulated the signing interface to trick signers into approving a change in the wallet’s smart contract logic, allowing the theft of all ETH in that wallet.
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