Crypto exchange Bybit, one of the world’s largest crypto exchanges, has been hit by a massive data breach. $1.5 billion is missing.
Around $1.5 billion worth of digital currency has disappeared, making it one of the largest online thefts ever.
Bybit said on Friday that a routine transfer of Ethereum, one of the most popular cryptocurrencies, between digital wallets was “manipulated” by an attacker who transferred the cryptocurrency to an unknown address.
The company sought to reassure customers that their crypto holdings at the exchange were safe, adding that news of the data breach had led to an increase in withdrawal requests, and that there could be delays in processing them.
Ben Zhou, CEO of Bybit, has assured on social media that the company will remain solvent even if the stolen cryptocurrency is not recovered.
“We can cover the loss,” he claims.