How Bybit Lost $1B: What It Means for DeFi Users
Photo: Coincu
In February 2025, Bybit disclosed a security incident that resulted in the theft of approximately $1.5 billion in Ethereum from its cold storage, making it the largest confirmed exchange hack in the history of digital assets. The U.S. Federal Bureau of Investigation subsequently attributed the attack to TraderTraitor, a North Korea-linked threat group, per a public service announcement issued by the Internet Crime Complaint Center on February 25, 2025. What makes this incident structurally different from prior exchange breaches is not the scale alone, but the attack vector: the theft did not originate from a broken smart contract or a…
Source: Coincu
