Bybit Hack, the top $ 5.3B of withdrawal, but ‘Reserves exceeds debt’ -hacken

Update February 22 at 1:45 pm UTC: This article has been updated to include the statement of BYBIT CEO Ben Zhou.

According to Defillama Data, Cryptocurrency Exchange BYBIT has maintained its reserves exceeding debt and exceeded the debt despite the decrease of $ 5.3 billion in total assets.

On February 21, hacking recorded the largest encryption stolen in history, and attackers stole more than $ 1.4 billion with liquid steak ether, mantle steak ETH and other ERC-20 tokens.

Since the incident, BYBIT’s total assets have fallen more than $ 5.3 billion, including $ 1.4 billion in hacking, Defillama Data said.

Despite the hacking and falling assets, BYBIT’s Exchange Reserves still exceeds debt, according to Hacken, an independent material proof (POR) auditor. On February 21, Hacken confirmed:

“Today’s hack was huge. It is a strong blow to the industry. But the conclusion is as follows: BYBIT’s reserves still exceed debt. As their independent auditor, we have confirmed that user funds are completely supported. ”

BYBIT handled more than 350,000 withdrawal requests within 10 hours, while BYBIT co -founder and CEO Ben Zhou completed 99.9%from February 22 x Post to 1:45 AM UTC.

“We faced the worst hack in the history of all central values ​​(banks, encryption, finance), but all BYBIT functions and products are functionally maintained, but the entire team has been awakened to deal with customers’ questions and concerns overnight. Zhou wrote.

Bybit Hack alone accounted for more than half of $ 2.3 billion stolen in 2024 encryption -related hacks, recording significant frustration in the industry.

relevant: 3 Cryptography prediction 2025: SOL ETF, AI transaction, new threat

$ 1.4b bybit hack: Must know

Blockchain security analysts, including Arkham Intelligence and Onchain Sleuth ZachxBt, have tracked a bit attack on the North Korean State Council Lazarus Group. It is also a major suspect of $ 600 million in Ronin network hacking.

According to Meir Dolev, co -founder and chief technical officer of CYVERS, this attack shares similarities with $ 230 million in Wazirx hacking and $ 58 million Radiant Capital Hack.

Dolev said that the Ethereum Multisig Cold Wallet was damaged through a deal, so that the signer was unconsciously deceived to approve the logic of malicious smart contracts.

“BYBIT’s ETH Multisig Cold Wallet seems to have been compromised through a deal that is noticed to unconsciously approve the change of smart contract logic.”

This allowed the hacker to control the cold wallet and move all the ETH to an unknown address. ”Dolev told Cointelegraph.

BYBIT’s Ether Cold Wallet Storage provider SAFE was infringed, but this incident did not affect Exchange’s internal system, BYBIT CEO Ben Zhou wrote on X on February 22.

relevant: Pig butcher fraud stole $ 5.5B from Crypto Investors in 2024 -Cyber

This attack says that even centralized exchanges with strong security measures are vulnerable to sophisticated cyber attacks.

According to a joint statement published by the United States, North Korea hackers have also been hacking $ 350 million in DMM Bitcoin, $ 50 million Upbit Hack, $ 50 million Radiant Capital Hack and $ 16 million Rain Management Hack It was in charge. Japan and Korea.

It was almost three weeks after the South Korean authorities sanctioned 15 North Korea, which were known to have created a fund for North Korea’s nuclear weapons development program through cryptocurrency and cyberstop.

https://www.youtube.com/watch?v=kynq5yofkwo

magazine: China’s ‘Point Running’ encryption fraud, pork butcher kidnapped children: Asia Express