Bybit Hack: The Largest Theft in Crypto History

On 02/21/2025, Bybit – one of the largest centralized cryptocurrency exchanges (CEX) today – experienced a serious cyber attack. This incident led to the loss of nearly 1.5 billion USD in digital assets, mainly Ethereum, marking one of the largest hacks in the industry's history.

The attack on Bybit's cold wallet, with damages up to 1.46 billion USD in Ethereum (ETH), not only raises concerns about the security of trading platforms but also shakes the crypto market. This event raises many questions about the security capabilities of digital systems and the potential negative impact on the reputation of the blockchain industry.

In today's article, Viet Hustler will analyze in detail this incident that is buzzing the market:

• Details and Scale of the Incident

• Traces of the Hackers

• How Bybit Handled Communications and Reassured Users

• Lessons from the Incident