In a developing story, the Bybit exchange is suspected to have been hacked for over $1.4 billion. This comes following a report from on-chain sleuth ZachXBT about ETH outflows from the crypto exchange.
Bybit Suffer Hack Of Over $1.4 Billion
The Bybit exchange appears to have suffered a hack involving over $1.4 billion. Onchain sleuth ZachXBT reported suspicious outflows of over $1.4 billion from the top crypto exchange and listed certain addresses that were receiving these ETH outflows.
Meanwhile, the crypto exchange also reported an unauthorized transfer of ETH from its cold wallets due to masked UI spoofing accounts. However, it assured customers that other wallets remained secure.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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