The post Largest Crypto Hack Ever : The Story Behind Bybit’s $1.4 Billion Hack appeared first on Coinpedia Fintech News
In the largest hacking event in the history of the cryptocurrency industry, Bybit has lost approximately $1.4 billion in stETH, mETH, and ERC-20 tokens. The incident has sent shockwaves across the industry. It proves that even centralised exchanges with strong security tools are vulnerable to cyberattacks.
Top blockchain security analysts, including Arkham Intelligence, suspect the involvement of a North Korean hacker organisation, named Lazarus Group, in the hacking attack. Notably, Arkham Intelligence has announced a hefty bounty of 50,000 Arkham tokens, valued at around $31,500, to track those behind the attack. Here is everything you should know.
Bybit Hack: What Happened?
No fewer than $1.4 billion in liquid-staked Ether, Mantle Staked ETH and other ERC-20 tokens have been looted from Bybit, the prominent crypto exchange known for its robust s
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