#### ByBit Hack, What is publicly known so far? ####

Bybit, a prominent cryptocurrency exchange, suffered a significant hack on February 21, 2025, resulting in the theft of approximately $1.46 billion worth of Ethereum (ETH) and related tokens from a cold wallet.

##### Key Details: #####

- Amount Stolen: Over $1.4 billion in ETH and related tokens, including stETH and mETH.

- Nature of the Attack: The hacker exploited a "masked" UI and URL, deceiving Bybit's team into authorizing a malicious transaction.

- Impact on Market: marginal, ETH, the stolen asset had yesterday a drop close to 3% and today is up ATM sightly above 3%, which is within the usual volatile range, BTC had yesterday a 2.22%, again, not unusual. Monday will give a better idea of the impact in the case of BTC.

##### Bybit's Response: #####

- CEO Ben Zhou confirmed the hack and reassured users that their funds are safe and that withdrawals remain operational.

- Bybit is working with blockchain security experts and industry partners to investigate the incident.

The exchange has committed to providing maximum transparency and updating the community on the progress of the investigations

##### Historical Context: #####

- Previous Hacks: This incident is one of the largest crypto hacks in history, surpassing the 2022 Ronin Network hack, which resulted in a loss of over $600 million.

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