Bybit has reportedly been hacked for $1.4 billion worth of ETH and stETH. Cryptocurrency intelligence company Arkham was the first to highlight suspicious outflows of more than $1 billion less than an hour ago. “The funds have begun to move to new addresses where they are being sold. So far, $200M stETH has been sold,” the company wrote on X.
ALERT: $1B+ OUTFLOWS FROM BYBIT
$1.4B in ETH and stETH outflows from Bybit
The funds have begun to move to new addresses where they are being sold. So far $200M stETH has been sold.
Address: 0x47666Fab8bd0Ac7003bce3f5C3585383F09486E2 pic.twitter.com/TfGm2UCjM5
— Arkham (@arkham) February 21, 2025
The report was later corroborated by blockchain security firm SlowMist, who posted that Bitcoin “has been exploited”. The company also posted the hacker’s addresses, which you can check in this X post.
ZachXBT, one of the more reliable sources in the crypto community when it comes to scams, hacks, and other similar news, also notified his 55,000-strong following on Telegram that Bybit has likely been hacked. “My sources confirm it’s a security incident,” he wrote.
About 20 minutes ago, Bybit CEO Ben Zhou wrote that the hacked took control of one of their cold wallets and “transferred all ETH in the cold wallet to this unidentified address.” Zhou wrote that other cold wallets are secure and that the withdrawals continue to operate normally.
We’ll update the story with more information as things develop.
Source: https://coincodex.com/article/63540/bybit-hacked-for-14-billion-worth-of-eth-and-steth-according-to-multiple-sources/