The parbit in the cryptocurrency exchange was hacked for more than $ 1.4 billion in liquid ether (STETH), Mantle ETH (METH) and other ERC-20 tokens, according to ONCHAIN’s security analyst, ZACHXBT, who spotted the incident shortly after.
After the feat, the Sleuth Onchain warned users of blacklist Addresses associated with hacking. The co-founder and CEO of Bybit, Ben Zhou, confirmed the incident and provided An update on security violation.
METH AND STETH TOKES exchanged for the Eth Source: Etherscan
Zhou confirmed that a transfer had been made from the exchange of the exchange portfolio in a hot wallet approximately one hour before.
The CEO said that the specific transaction was masked to appear legitimate but contained a malicious source code designed to modify the intelligent contract logic of portfolio and siphon funds. Zhou reassured customers:
“Please, rest assured that all the other cold wallets are secure. All withdrawals are normal. I will keep you informed of more development. If a team can help us follow the stolen fund will be appreciated. »»
The incident follows several high -level hacks and security incidents throughout 2024 and at the beginning of 2025 which left crypto exchanges drained of funds.
Source: Ben Zhou
“The appeal is a solvent even if this loss of hacking is not recovered, all the assets of the customer are supported from 1 to 1 – we can cover the loss,” added the CEO of Bybit in a separate article.
In a declaration X, the exchange insured Customers that its cold portfolios “remain fully safe”, adding that “all customer funds are safe and that our operations continue as usual without any disruption”.
The price of the ether (ETH) fell by more than 3% following the confirmation of the hack as a violation – among the most important in the recent history of cryptography – sent shock waves through the market.
The price of Ethereum takes a hit after the hack. Source: Cointelegraph
Increase in security incidents and scams in February 2025
The cryptography industry experienced an increase in hacks and scam -related activities in the first weeks of February 2025.
Zklend, a monetary market protocol on Starknet, was hacked on February 14 in a feat that drained the protocol of $ 9.5 million.
According to the cybersecurity company cywrite, the malicious actor has filled the funds to Ethereum and the Railgun protocol to try to whiten them, but Railgun returned the stolen loot.
Jupiter, a decentralized exchange based in Solana, and the former Malaysian Prime Minister Mahathir Mohamad both suffered exploits on social networks on February 5.
In both incidents, threat stakeholders used compromise accounts to promote false same.
The founder of Eliza Labs, Shaw Walters, was another recent victim of social media hacking. The pirate took control of the Walters Walters account and began to publish scam ties.
Walters said the hack had taken place despite the two -factor security authentication on its X account.
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