Ethereum Price Dips After Bybit Reports Massive $1.4 Billion Hack
In a development that could have a significant impact on the Ethereum price, cryptocurrency exchange Bybit has confirmed a major security breach involving its ETH cold wallet. In a recent post on social media platform X (formerly Twitter), the exchange revealed that the incident reportedly occurred during a transfer from the ETH multisig cold wallet […]
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On February 21, 2025, the North Korean hacking group Lazarus managed to steal approximately $1.5B worth of Ethereum. Despite the initial whiplash effect, the $1.5B Bybit hack could paradoxically boost the best meme coins in 2025 and beyond. Let’s dig into it. Evidence Emerges of Bybit Hack’s Sophistication Subsequent investigations showed that the hackers used […]
Bybit, a popular crypto exchange, is reeling from the massive hack worth $1.5 billion in digital assets. According to reports, the hackers targeted the crypto exchange’s cold wallet, an offline storage system, to steal the exchange’s assets, primarily Ether. On-chain data reveals that the stolen funds were quickly transferred into different wallets and liquidated on […]
Ethereum Foundation lead developer Tim Beiko has dismissed the idea of an Ethereum blockchain rollback following the Bybit crypto exchange hack. In a detailed post on X, Beiko explained why such a proposal is impractical and unfeasible. Related Reading: Grayscale’s Ethereum ETF On The Brink Of Major Change With NYSE’s Staking Proposal Ethereum Network Too […]
Around $280M of the total of $1.4B lost in the ByBit hack on February 21, 2025, has now become untraceable, reiterating the importance of non-custodial storage options like Best Wallet. Lessons from the Biggest Crypto Theft in History ByBit’s co-founder and CEO, Ben Zhou, was the first to inform the public of the initial breach in […]
The colossal $1.5 billion hack of Bybit last week has set off fierce discussions across the crypto community, with some industry voices contending that Ethereum’s design might have played a role. The theft of approximately 401,000 Ether (ETH)— orchestrated by the North Korean Lazarus Group—has raised questions about whether Ethereum’s complexity makes its ecosystem uniquely […]