The bybit in the cryptocurrency exchange called the “most brilliant minds” of cybersecurity to help it recover 1.5 billion dollars (1.2 billion pounds sterling) stolen by pirates in what is considered the largest digital flight in history.
The Dubai-based cryptographic platform said that an attacker had taken control of an Ethereum portfolio, one of the most popular digital currencies after Bitcoin, and transferred the content to an unknown address.
Bybit immediately sought to reassure his clients that their assets in cryptocurrency were sure, while his director general declared on social networks by Bybit would reimburse all those affected, even if the hacked currency had not returned.
“Parbit is a solvent even if this loss of hacking is not recovered, all customer assets are supported from 1 to 1, we can cover the loss,” said Ben Zhou, co-founder of Bybit and chief executive, Posted on X.
He added that the company held $ 20 billion in customer assets and would be able to cover non -covered funds or through partner loans.
Bybit, which has more than 60 million users worldwide and is the second exchange of cryptocurrency in the world in terms of negotiation volume, said that the news of the hack had led to an increase in withdrawal requests.
Zhou wrote that the company had received more than 350,000 customer requests to withdraw their funds, which could lead to delays in treatment.
Bybit said that the hack occurred when the company was transferring Ethereum routine from an offline “cold” wallet to a “hot” portfolio, which covers its daily exchange. An attacker has operated security checks and was able to transfer assets. Zhou said that all other exchange portfolios were not affected.
The price of Ethereum dropped almost 4% after the news of the hack on Friday, but has since returned to the previous levels.
The company called “the most brilliant minds of cybersecurity and the analysis of cryptography” to help it recover hacked funds, and offers a reward of 10% of the amount recovered, which could total $ 140 million if the entire pirated amount was recovered.
“Bybit is determined to go beyond the reverse and fundamentally transforming our security infrastructure, improving liquidity and being an unshakable partner to our friends of the cryptographic community,” Zhou said in a press release.
The hack is a setback for the cryptography industry, which has rebounded in recent months after having benefited from the return of Donald Trump to the White House, and its promises to make the United States the “cryptographic capital of the planet” in the midst of the more loose regulation.
Although the identity of the bybit striker is unknown, some reports have suggested that the authors could be pirates of North Korean state, such as the Lazare group, which was blamed for previous large-scale crampons, including the flight of $ 615 million from the Ronin Group Blockchain group in 2022.
