Bybit said it replenished its reserves following a $1.5 billion hack last week, the largest in the history of the crypto industry. In less than 72 hours, Bybit pieced together hundreds of thousands of ether tokens through a mix of emergency loans and large deposits. While the rapid recovery restored the exchange’s balance and kept customer withdrawals open, it did not account for the stolen crypto.
The breach occurred during a routine internal transfer, when Bybit was moving funds from its offline “cold wallet,” designed for secure, long-term storage, to a “warm wallet,” which enables active trading. During that transfer, hackers exploited security gaps, intercepting the transaction and redirecting the funds to an unknown address.
Read more…
Source: CNBC News
Related:
- Chasing Eddies: New Rust- based InfoStealer used in CAPTCHA campaigns
May 30, 2025
Elastic Security Labs has uncovered a novel Rust-based infostealer distributed via Fake CAPTCHA campaigns. This malware is hosted on multiple adversary-controlled web properties. This campaign leverages deceptive CAPTCHA verification pages that trick users into executing a malicious PowerShell script, which ultimately deploys the infostealer, harvesting sensitive data such as credentials, browser information, and cryptocurrency wallet details. ...
- FBI: Infrastructure Used to Manage Domains Related to Cryptocurrency Investment Fraud Scams between October 2023 and April 2025
May 29, 2025
The Federal Bureau of Investigation (FBI) is releasing this FLASH to disseminate indicators of compromise (IOCs) associated with malicious cyber activities linked to Funnull Technology Inc. (Funnull). Funnull is a Philippines-based company which provides computer infrastructure for thousands of websites associated with cryptocurrency investment fraud (CIF) scams, commonly referred to as “pig butchering,” and other illicit ...
- Scattered Spider snared financial orgs before targeting shops in Britain, America
May 21, 2025
Scattered Spider snared financial services organizations in its web before its recent spate of retail attacks in the UK and US, according to Palo Alto Networks’ Unit 42. “We saw several instances in the financial services space, and now we’re starting to see instances in the retail-oriented, customer-facing space,” Unit 42 principal threat researcher Kristopher Russo ...
- Coinbase warns of $400m hit after data breach
May 15, 2025
Crypto exchange Coinbase has disclosed a significant cyber attack that could cost the company between $180m (£135m) and $400m (£300m), after hackers breached account data belonging to a “small subset” of its users. The news sent shares down three per cent in pre-market trading on Thursday. Coinbase said it received an email from an unknown threat ...
- France: Daughter of crypto boss escapes Paris kidnap attempt in latest in series of attacks
May 14, 2025
Passers-by helped to foil the attempted kidnapping by armed assailants of the daughter and grandson of a French cryptocurrency boss in Paris, in a brazen daytime attack that was caught on camera. The incident prompted Paymium, the Crypto firm owned by the father of the woman targeted, to demand “protections” for companies in France’s cryptocurrency sphere. ...
- Kidnappers in France target cryptocurrency entrepreneurs for ransom
May 4, 2025
French police rescued the father of a wealthy cryptocurrency entrepreneur in a nighttime raid after he was taken hostage for ransom, the latest alleged criminal effort in France to extort people involved in the management of digital assets. The man was kidnapped Thursday morning in Paris, the prosecutor’s office said Sunday. “The victim turned out to ...