The market is broken after you face $ 1.5 billion from ETH Hack

The encryption market witnessed a significant shrinkage after it announced byBit, a prominent encrypted currency exchange, a devastating penetration of $ 1.5 billion in cryptocurrencies. This incident represents the largest psalm for encryption so far. Recent updates, including the CEO data, confirm that bybit is at risk, which led to a loss of about $ 1.5 billion in Ethereum.

Bybit faces the largest penetration in history

It seems that bybit, the central encryption exchange in Singapore, has been hacked. Early estimates indicate that the stock exchange lost more than $ 1.46 billion from ETH, although the investigation is continuing.

The hacker CEO described the ethereum Multisig Cold from the Bybit, where the attackers dealt with the signing interface to deceive the two positions to agree to a change in the logic of the smart contract of the portfolio, allowing the theft of each eth in that wallet.

CEO Ben Chu He said“A cool ethiig bybit Multisig wallet only transferred to our warm wallet about one hour ago. It seems that this specified deal was prepared, and he saw all the two positions the US user interface that showed the correct address and URL from safe. However, the signature message was Changing the logic of the Cold ETH wallet. ETH, which we have signed and transferred to all ETH in the cold wallet to this unknown address. Placement.

On Tuesday, the Stock Exchange announced that it will conduct maintenance maintenance on its direct servant, and extend from today to tomorrow. The penetration was first reported by ZachXBT, who indicated that according to the data on the series, METH and Steth were effectively exchanged with ETHEREUM on decentralized exchanges (Dexs).

The attacker transferred tens of thousands of Ethereum to 48 different titles. Zachxbt has invited exchanges and services to these blacklist addresses to prevent further movement from stolen money.

ETHEREUM price faces a sharp decrease

Money was first sent to a address starting with 0x476, which received assets with a total of more than $ 1.1 billion, including 400,000 ETH, 90,000 SETH, 15000 Cmeth and 8000 CTH. Then the majority was transferred to a second address, 0xa4B2F, where they were exchanged on decentralized platforms such as Uiswap, Paraswap and KybersWAP.

After the penetration, the ETHEREUM price decreased sharply. Coinmarketcap indicates that ETH witnessed a 5 % decrease, as it was a decrease at about 2680 dollars. Meanwhile, BYBIT CEO confirmed that customers affected by penetration will be compensated for their missing money.

He stated, “The hot pipe wallet, a warm wallet and all other cold wallets were good. The only cold wallet that was hacked was the cold ETH portfolio. All withdrawal is normal.”

He also said: “Bybit is a solvent even if this hack loss is not recovered, all customer assets are supported from 1 to 1, we can cover the loss.”

Unfortunately, this incident is the biggest breakthrough for encryption in history, bypassing the previous record that Ronin’s network kept, with $ 625 million.