Publish: 12:22, 22 Feb, 2025

Crypto exchange Bybit loses $1.5 billion in record hack

Online Desk
Crypto exchange Bybit loses $1.5 billion in record hack
Photo - Collected

Dubai-based cryptocurrency exchange Bybit reported on Friday that hackers stole $1.5 billion worth of digital assets in what marks the largest crypto theft in industry history, reports BSS.

Bybit CEO and founder Ben Zhou addressed the hack during an online chat, assuring users that "your funds are safe."

The company added on X: "We've launched a refund program for users affected by today's hack. Bybit is committed to protecting our community, and we will fully reimburse all impacted users."

According to the company, attackers exploited security protocols during a transaction, enabling them to transfer the assets to an unidentified address.

This compromised an offline "wallet" that stored Ethereum, and the hackers stole 400,000 ETH on Friday morning.

Ethereum is the second-largest cryptocurrency by market value after Bitcoin, and was worth $2,641.41 on Friday after the hack, down nearly four percent.

Zhou stated that Bybit holds $20 billion in client assets and pledged that any unrecovered funds would be covered through the company's treasury or a bridge loan from partners.

While the perpetrators remain unknown, the scale of the theft far exceeds the previous record: a $620 million heist of Ethereum and USD Coin from the Ronin Network in 2022, allegedly carried out by North Korea's Lazarus group.

Founded in 2018, Bybit counts prominent Donald Trump ally Peter Thiel among its early investors, according to Pitchbook.

Bd-pratidin English/Tanvir Raihan

More News
Mars dust poses severe health risks for astronauts
Mars dust poses severe health risks for astronauts
Neptune auroras captured in great detail by NASA’s Webb telescope
Neptune auroras captured in great detail by NASA’s Webb telescope
Scientists find amber-preserved insect that snatched prey
Scientists find amber-preserved insect that snatched prey
Judge greenlights newspaper copyright lawsuit against OpenAI and Microsoft
Judge greenlights newspaper copyright lawsuit against OpenAI and Microsoft
New Facebook feature helps content creators earn from Stories
New Facebook feature helps content creators earn from Stories
Chinese scientists identify membrane receptor for ceramide in adipocytes
Chinese scientists identify membrane receptor for ceramide in adipocytes
Dr Yunus orders launch of Starlink’s broadband within 90 days
Dr Yunus orders launch of Starlink’s broadband within 90 days
DeepSeek narrows China-US AI gap to three months
DeepSeek narrows China-US AI gap to three months
Paralyzed man controls computer with Neuralink chip in his brain
Paralyzed man controls computer with Neuralink chip in his brain
Webb Space Telescope captures a star in the making and a galaxy far, far away
Webb Space Telescope captures a star in the making and a galaxy far, far away
Samsung TV pioneer Han Jong-hee dead at 63
Samsung TV pioneer Han Jong-hee dead at 63
OpenAI updates advanced voice mode for ChatGPT
OpenAI updates advanced voice mode for ChatGPT
Latest News
WFP reverses decision to cut food aid for Rohingyas in Bangladesh
WFP reverses decision to cut food aid for Rohingyas in Bangladesh
3 hours ago | National
Term of five reform commissions extended
Term of five reform commissions extended
4 hours ago | National
Democracy to mark victorious if fascist forces can’t contest polls: Akhtar
Democracy to mark victorious if fascist forces can’t contest polls: Akhtar
4 hours ago | National
CA arrives in Beijing
CA arrives in Beijing
5 hours ago | National
200,000 Palestinians perform prayers at Al-Aqsa Mosque at Qadr night
200,000 Palestinians perform prayers at Al-Aqsa Mosque at Qadr night
5 hours ago | International
ACC files graft cases against Ashraful Alam Khokan, his wife
ACC files graft cases against Ashraful Alam Khokan, his wife
5 hours ago | National
NATO retracts comment on death of 4 US soldiers in Lithuania
NATO retracts comment on death of 4 US soldiers in Lithuania
6 hours ago | International
US grants initial approval for Qatar to acquire MQ-9 armed drones
US grants initial approval for Qatar to acquire MQ-9 armed drones
6 hours ago | International
Four state-owned banks to open on Friday
Four state-owned banks to open on Friday
6 hours ago | Business
144 more Bangladeshi nationals return home from Libya
144 more Bangladeshi nationals return home from Libya
6 hours ago | National
Australia opens new ‘Home Affairs Office’ in Dhaka
Australia opens new ‘Home Affairs Office’ in Dhaka
7 hours ago | National
CA now heading towards Beijing to hold talks with Xi
CA now heading towards Beijing to hold talks with Xi
8 hours ago | National
Holiday declared in 3-hill districts on April 13 for Chaitra Sangkranti
Holiday declared in 3-hill districts on April 13 for Chaitra Sangkranti
8 hours ago | National
Health ministry in Hamas-run Gaza says 855 killed since Israel resumed strikes
Health ministry in Hamas-run Gaza says 855 killed since Israel resumed strikes
8 hours ago | International
Hamza departs for England, promises to return in June
Hamza departs for England, promises to return in June
8 hours ago | Sports
Istanbul divided as Erdogan rival’s arrest sparks anti-govt protests
Istanbul divided as Erdogan rival’s arrest sparks anti-govt protests
8 hours ago | International
Country receives highest ever remittances in 26 days of March
Country receives highest ever remittances in 26 days of March
9 hours ago | Business
12-party alliance submits reform proposal to Consensus Commission
12-party alliance submits reform proposal to Consensus Commission
9 hours ago | National
Tarique Rahman extends Eid greetings to Chief Advisor
Tarique Rahman extends Eid greetings to Chief Advisor
9 hours ago | National
BB re-fixes MFS transaction limit
BB re-fixes MFS transaction limit
9 hours ago | Business
Taking oath as mayor depends on party decision: Ishraque
Taking oath as mayor depends on party decision: Ishraque
9 hours ago | National
It's high time to make investment in Bangladesh
It's high time to make investment in Bangladesh
9 hours ago | Business
France opposes 'any form of trade war', FM tells China
France opposes 'any form of trade war', FM tells China
10 hours ago | International
Ishraque Hossain declared mayor of DSCC
Ishraque Hossain declared mayor of DSCC
10 hours ago | National
CA seeks FAO support in fruit, farm products export to China
CA seeks FAO support in fruit, farm products export to China
10 hours ago | Business
‘Govt working to fulfill workers’ logical demands’
‘Govt working to fulfill workers’ logical demands’
10 hours ago | National
Russian deputy premier meets CA
Russian deputy premier meets CA
10 hours ago | National
Things to know about the limited ceasefire between Russia and Ukraine
Things to know about the limited ceasefire between Russia and Ukraine
11 hours ago | International
Neglected in times of peace, Germany preps for emergency response
Neglected in times of peace, Germany preps for emergency response
11 hours ago | International
Trump’s auto tariffs is a ‘direct attack’: Canadian PM
Trump’s auto tariffs is a ‘direct attack’: Canadian PM
11 hours ago | International
Most Read
Final banking rush before Eid as 9-day holiday begins tomorrow
Final banking rush before Eid as 9-day holiday begins tomorrow
13 hours ago | Business
CA urges Asian countries to map a path to collective prosperity
CA urges Asian countries to map a path to collective prosperity
15 hours ago | National
Shab-e-Qadr to be observed tonight
Shab-e-Qadr to be observed tonight
15 hours ago | National
Pakistani singer Mustafa Zahid to captivate Dhaka with live performance
Pakistani singer Mustafa Zahid to captivate Dhaka with live performance
14 hours ago | Entertainment
Dhaka’s air quality gradually improves as people leave the city
Dhaka’s air quality gradually improves as people leave the city
15 hours ago | City
9,500 tonne Indian rice shipment docks at Chittagong Port
9,500 tonne Indian rice shipment docks at Chittagong Port
13 hours ago | Business
BB allows startups to invest $10,000 abroad
BB allows startups to invest $10,000 abroad
12 hours ago | Business
Rajkummar Rao, Wamiqa starrer comedy film to release 9 May
Rajkummar Rao, Wamiqa starrer comedy film to release 9 May
17 hours ago | Entertainment
Feeling lost? Longing is a sign of your humanity, says expert
Feeling lost? Longing is a sign of your humanity, says expert
16 hours ago | Lifestyle
BRTA fines bus operators Tk 30,000 for overcharging Eid passengers
BRTA fines bus operators Tk 30,000 for overcharging Eid passengers
17 hours ago | National
Pre-Eid skincare tips for reviving sun-damaged skin
Pre-Eid skincare tips for reviving sun-damaged skin
14 hours ago | Lifestyle
Walking after meals beats early morning walks: Nutritionist
Walking after meals beats early morning walks: Nutritionist
12 hours ago | Lifestyle
Neptune auroras captured in great detail by NASA’s Webb telescope
Neptune auroras captured in great detail by NASA’s Webb telescope
14 hours ago | Tech
CJ Refaat Ahmed awarded honorary fellowship by Oxford
CJ Refaat Ahmed awarded honorary fellowship by Oxford
17 hours ago | National
Avengers Doomsday cast revealed: OG X-Men return, Robert Downey Jr. as Doctor Doom
Avengers Doomsday cast revealed: OG X-Men return, Robert Downey Jr. as Doctor Doom
15 hours ago | Entertainment
Judge greenlights newspaper copyright lawsuit against OpenAI and Microsoft
Judge greenlights newspaper copyright lawsuit against OpenAI and Microsoft
15 hours ago | Tech
Colorectal cancer: Early signs you shouldn’t ignore
Colorectal cancer: Early signs you shouldn’t ignore
11 hours ago | Lifestyle
Weather forecast: Dry weather over country
Weather forecast: Dry weather over country
13 hours ago | National
Country receives highest ever remittances in 26 days of March
Country receives highest ever remittances in 26 days of March
9 hours ago | Business
Hamza departs for England, promises to return in June
Hamza departs for England, promises to return in June
8 hours ago | Sports
'Shobar Agey Bangladesh' concert on Apr 11
'Shobar Agey Bangladesh' concert on Apr 11
11 hours ago | National
Chinese Exim Bank to support relocation of manufacturing plants in Bangladesh
Chinese Exim Bank to support relocation of manufacturing plants in Bangladesh
12 hours ago | Business
Probe body formed over significant presence of soil in imported coal
Probe body formed over significant presence of soil in imported coal
17 hours ago | National
US govt agency recommends blacklisting India, sanctioning RAW
US govt agency recommends blacklisting India, sanctioning RAW
17 hours ago | International
Russia keen to help Bangladesh ensure food, energy security
Russia keen to help Bangladesh ensure food, energy security
17 hours ago | National
Ban Ki-moon, Dongyu meet Dr Yunus
Ban Ki-moon, Dongyu meet Dr Yunus
12 hours ago | National
Ishraque Hossain declared mayor of DSCC
Ishraque Hossain declared mayor of DSCC
10 hours ago | National
Trump eyes tariff cuts for China to secure TikTok deal
Trump eyes tariff cuts for China to secure TikTok deal
16 hours ago | International
Russian deputy premier meets CA
Russian deputy premier meets CA
10 hours ago | National
Tarique Rahman extends Eid greetings to Chief Advisor
Tarique Rahman extends Eid greetings to Chief Advisor
9 hours ago | National