According to cryptocurrency company Bybit, hackers may have committed the largest cryptocurrency crime in history, stealing $1.5 billion (£1.1 billion) in digital cash. The proprietor of the Dubai-based business assured customers that their money was secure and promised to reimburse anyone impacted.
It claimed that hackers had stolen from its digital wallet for Ethereum coins. After Bitcoin, Ethereum is the second-largest cryptocurrency in terms of value. Ben Zhou, the founder of Bybit, stated that the company or a loan from partners might provide the funds. Bybit has assets worth $20 billion (£15 billion).
According to Bybit, the hackers moved the funds to an undisclosed address after taking advantage of security flaws.
Ethereum’s value dropped about 4% on Friday following the theft, to $2,641.41 (£2,090) per coin. The robbery would surpass a previous record, set in 2022 when the Ronin Network was robbed of $620 million (£490 million) worth of Ethereum and USD coin.
Bybit was established in 2018. According to reports, two of its first investors were former Paypal CEO Peter Thiel and US President Donald Trump. Bybit claims to have over 60 million users globally and to provide access to a wide range of cryptocurrencies.
Also Read:
