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Crypto exchange ByBit hacked for over $1.4 billion, Ross Ulbricht calls for ‘Bitcoin Jesus’ Roger Ver to be pardoned, and other news.
Cryptocurrency exchange Bybit has been hacked for over $1.4 billion in liquid-staked Ether, Mantle Staked ETH and other ERC-20 tokens, according to pseudonymous onchain security analyst ZachXBT, who spotted the incident shortly after it occurred.
Following the exploit, the onchain sleuth warned users to blacklist addresses associated with the hack. Bybit co-founder and CEO Ben Zhou confirmed the incident and provided an update on the security breach.
Zhou confirmed that a transfer was made from the exchanges multisignature wallet to a warm wallet approximately one hour prior. The CEO also said the specific transaction was masked to appear legitimate but contained malicious source code designed to alter the smart contract logic of the wallet and siphon funds.
