Hackers have stolen $1.5 billion from cryptocurrency exchange Bybit in what may be the largest crypto theft in history. Founder Ben Zhou assured users their funds are safe and that the company will cover any losses.
The stolen assets were taken from Bybit’s Ethereum wallet, causing Ethereum’s value to drop 4% on Friday. Bybit, which holds $20 billion in assets, may cover the loss through reserves or partner loans.
This heist surpasses the $620 million Ronin Network hack in 2022. Founded in 2018, Bybit has over 60 million users and early investors, including Donald Trump and Peter Thiel.
