Bybit crypto exchange's ETH treasury/wallet hacked

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Bybit detected unauthorized activity involving one of our ETH cold wallets. The incident occurred when our ETH multisig cold wallet executed a transfer to our warm wallet. Unfortunately, this transaction was manipulated through a sophisticated attack that masked the signing interface, displaying the correct address while altering the underlying smart contract logic. As a result, the attacker was able to gain control of the affected ETH cold wallet and transfer its holdings to an unidentified address.

Our security team, alongside leading blockchain forensic experts and partners, is actively investigating the incident. Any teams with expertise in blockchain analytics and fund recovery who can assist in tracing these assets are welcome to collaborate with us.

We want to assure our users and partners that all other Bybit cold wallets remain fully secure. All client funds are safe, and our operations continue as usual without any disruption.

Transparency and security remain our top priorities, and we will provide updates asap
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Bybit has suffered one of the largest crypto hacks in history, with over $1.46 billion worth of Ethereum and staked assets drained from the exchange’s cold wallet. According to ZachXBT, the blockchain analyst who first flagged the suspicious outflows, the hacker moved 401,346 ETH—worth approximately $1.1 billion—along with staked Ether (stETH-USD) and MegaETH (mETH) to a fresh wallet, where they have begun liquidating the stolen funds.
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Following the hack, the attacker quickly began offloading the stolen funds, selling around $200 million worth of stETH on decentralized exchanges, according to Etherscan. This sell-off contributed to a 4% drop in Ethereum’s (ETH-USD) price, while Bitcoin also slid by more than 1.5%.
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markets.businessinsider.com

Hacker Drains $1.46B from Bybit’s Cold Wallet in Massive Security Breach

Bybit has suffered one of the largest crypto hacks in history, with over $1.46 billion worth of Ethereum and staked assets drained from the exch...
markets.businessinsider.com markets.businessinsider.com
 
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