Bybit CEO Confirms Exchange Was Hacked for $1.46B, Says His Firm Can Cover The Loss

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of 'suspicious outflows,' according to blockchain sleuth ZachXBT. From a report: The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far. Bybit CEO Ben Zhou wrote on X that a hacker 'took control of the specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified address.'

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