ByBit, a cryptocurrency exchange platform, experienced the largest crypto theft in history with a staggering loss of $1.4 billion due to a security breach involving a 'musked transaction'. As a result of this heist, hackers managed to infiltrate the exchange's Ethereum-based holdings, compromising a significant stockpile of Ethereum. Although ByBit's CEO Ben Zhou assured that no user funds would be lost and withdrawals remained normal, the magnitude of the theft not only sets a new precedent in crypto crime but also raises severe concerns regarding the security of digital assets.
Source: https://www.wired.com/story/1-4-billion-stolen-from-bybit-in-biggest-crypto-theft-ever/
"id": "byb000022325",
"linkid": "bybitexchange",
"type": "Breach",
"date": "2/2025",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"