While the cadios of the 20th century involved determining a location, recruiting a person inside and having a daring flight driver waiting outside, the 21st century version is more like what Bybit has experienced Today. A pirate stole Nearly $ 1.5 billion in Ethereum (ETH) and marked Ethereum of one of the offline portfolios of the exchange, catching the largest transport of cryptocurrency of all time. A blockchain security expert said he was probably the biggest robbery of all times of all kinds, not just crypto.
CEO of bybit ben Zhou poster On X that the pirate took control of one of the cold (offline) portfolios of the exchange, handling a planned transfer and sending it to an unknown part. “The signature message was to modify the logic of the intelligent contract of our portfolio and ETH Cold,” wrote Zhou. He explained that the pirate “took control of the specific Cold Seth portfolio that we signed and transferred ETH to the cold portfolio at this unidentified address”.
Rob Behnke, co-founder and executive president of the security company Blockchain Halborn, said Bloomberg The robbery was probably the “biggest incident of all time, not just crypto”.
Bybit piracy eclipses the flights of previous records, including $ 620 million taken in 2022 of the Ronin network And $ 610 million in Poly Network in 2021. There was also the Sadly famous Mt. Gox Hack from 2011which took 850,000 bitcoins. This resulted in around $ 450 million in losses at the time. But an asterisk on the title “The biggest ever” by Bybit is that the transport of Mont Gox would be much more today: more than 81 billion dollars. It is difficult to imagine what figures might look like for similar incidents in a decade.
According to BloombergBybit had around $ 16.2 billion in assets before hacking, with an average of more than $ 36 billion in daily negotiations. Friday flight represented about nine percent of its total assets. While the news of the robbery was spreading, Ether dropped up to 6.7% of its summit of the day. Bitcoin also shaved about three percent reduction on its summit on Friday.
In what looks like the ultimate incarnation of the meme “This is fine”, Zhou crowned his post X by reassuring customers that everything is Okie-Dokie in Bybit. “Please rest assured that all the other cold wallets are sure,” he posted. “All withdrawals are normal.” (Normal in all caps is certainly a sign that things are fishing.)
To be fair, Zhou said that Bybit had already obtained around 80% of the funding necessary to cover the loss through partner bridge loans. Thus, perhaps the exchange based in Dubai will recover better from the incident than one imagines it. “Your money is safe and our withdrawals are still open,” he added on a live flow.
On the other hand, bybit’s X account poster A request for help. After declaring that his security team and his legal experts from the blockchain were on the case, he added: “All the teams with an expertise in the blockchain analysis and the recovery of funds that can help trace these assets are welcome to collaborate with us. “
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