Bybit Suffers $1.5 Billion Hack, the Largest Crypto Theft Yet

Cryptocurrency prices fell on Friday, with Bitcoin dropping to nearly $97,000 and Ether slipping below $2,700 following a security breach at Bybit. Bybit confirmed a hacker had stolen more than $1.46 billion in cryptocurrency from its ETH cold wallet, making it the largest cryptocurrency hack to date. Bybit reassured that all remaining cold wallets are secure, with the CEO guaranteeing that all client assets are fully backed despite the breach. A suspicious $1.4 billion ETH outflow triggered the security breach investigation conducted by Bybit's internal team and external experts.