Hackers hacked the Bybit crypto exchange

Crypto detective ZachXBT reported that as a result of a hacker attack, the Bybit exchange lost over $1.46 billion from accounts. The platform's CEO, Ben Zhou, confirmed the information about the exchange's hack.

It is noted that the exchange is still processing withdrawal requests, but due to increased activity, the processing may take longer than usual. According to Bybit's official statement, the hacker attack occurred when transferring ETH from the cold multi-sig storage to the hot wallet. The attackers altered the transaction signing interface, making only the correct address available to the participants of the procedure. Meanwhile, the logic of the smart contract was modified, and the hackers gained control of the ETH wallet and withdrew all funds to an unknown wallet.

The team is currently investigating the attack with experts and partners. Users have been assured that their funds are safe. The platform's operations have not been suspended.

Earlier, the Bybit cryptocurrency exchange announced that it would cease providing all services to users from France starting January 8, 2025.