Bybit hit a Hack of $ 1.4 billion aimed at his wallet Ethereum Cold

crypto Exchange Bybit has confirmed a massive trick that turned out that more than $ 1.4 billion in cryptographic assets are draining the ethereum Cold wallet of the exchange. Despite substantial losses, CEO Ben Zhou insisted that customer money is safe and It will be covered.

The incident came to light after the chain analyst Zachxbt marked suspicious outputs of Bybit wallets, for a total of $ 1.46 billion at 10:20 am et. The researcher also shared a block chain ADDRESS associated with the outputs. The large sum of money involved has caused speculation about a possible violation or piracy of security. Bybit did not publish an official statement at that time.

Zachxbt also pointed out that the suspicious direction had changed methamphetamine and Seth for eth in decentralized exchanges. Later he learned of the sources that was a security incident.

Within 30 minutes of the initial alert of Zachxbt, the CEO of Bybit confirmed the security violation. In a statement, Zhou explained that the attackers probably used a “masked” transaction technique to carry out the exploit.

<blockquote class="twitter-tweet” data-width=”500″ data-dnt=”true” wp_automatic_readability=”10.253086419753″>

Bybit eth Multisig Cold Wallet has just transferred to our warm wallet approximately 1 hour ago. It seems that this specific transaction was musk, all the signatories saw the musk user interface that showed the right address and the URL was from <a target="_blank" href="https://twitter.com/safe?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>@sure . However, the signature message was to change …

– Ben Zhou (@Benbybit) <a target="_blank" href="https://twitter.com/benbybit/status/1892963530422505586?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>February 21, 2025

This involved deceiving the Bybit team to authorize a malicious transaction by showing a legitimate -looking user interface. The user interface showed the correct address and URL of SAFE, a widely used wallet management platform, which makes the transaction look authentic.

However, the real transaction signed by the Bybit team contained malicious code that altered the logic of the intelligent target of the target cold wallet. This effectively granted the control of the attackers, allowing them to drain eth from the wallet.

Bybit said that only a cold wallet was compromised and that all the other cold wallets remain safe. The exchange also assured users that retreats are normally proceeding.