The Bybit crypto heist surpasses a previous record in 2022, when hackers drained $620m (£490m) heist of Ethereum and USD Coin from the Ronin Network. In 2019, the Binance exchange suffered another major crypto heist with hackers making off with $41 million worth of Bitcoin.

Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what’s estimated to be the largest crypto heist in history.

The Dubai-based platform Bybit said an attacker gained control of an Ethereum wallet and transferred its holdings to an unknown address.

Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday.

Hackers stole about $1.5bn in crypto tokens from Bybit, in a heist the digital asset exchange described as the biggest theft to hit the industry. Ethereum coins were been taken from Bybit’s offline or “cold” wallet, the exchange’s chief executive Ben Zhou said in a post on X.

Dubai-based cryptocurrency exchange Bybit reported on Friday that hackers stole USD 1.5 billion worth of digital assets in what marks the largest crypto theft in industry history. Bybit CEO and founder Ben Zhou addressed the hack during an online chat,

Bybit replenished its $1.5 billion deficit within three days following the most significant crypto hack in history. The gap was filled using a combination of