Bybit Hack, withdraws the highest $ 5.3 billion, but “reserves go beyond the obligations” – HACKEN – TradingView News

February 22 update, 1:45 pm UTC: This article was updated to include a statement from the CEO of bybit Ben Zhou.

Cryptocurrency Exchange bybit has maintained reserves that exceed its obligations, despite being exposed to a penetration of $ 1.4 billion and a total decrease of $ 5.3 billion in total assets, according to Devillama data.

The penetration on February 21 is the largest encryption theft in history, as attackers steal more than $ 1.4 billion of ether liquid (STTH), Mantle Staked Eth (Meth) and other ERC-20 symbols.

Since the accident, the value of the total BYBIT assets has decreased by more than $ 5.3 billion, including 1.4 billion dollars lost to the penetration, as Defillama appears.

Despite the penetration and projection of assets, the BYBITEITEEEEE Reserves still go beyond its obligations, according to its independent content (Por), Hakin. In the February 21 publication on X, Hacken confirmed:

“Today’s penetration was tremendous – a difficult blow to this industry. But this is the minimum: Bybit reserves are still exceeding their obligations. As an independent auditor of Por, we confirmed that the user’s money remains fully supported.”

Bybit has processed more than 350,000 withdrawal requests within 10 hours, and completed 99.9 % of them by 1:45 AM UTC, co -founder and CEO of Bybit Ben Zhou on February 22.

“Although we were exposed to the worst penetration, perhaps in the history of any mediator (banks, encryption, and financing), all bybit and products are still functional, the entire team was awake all night to address the client’s questions and fears and answer them.

The leaders of the encryption and exchange industry rushed to help BYBIT with emergency transfers, including 50,000 Binance, 40,000 Bitget and 10,000 from du Jun, co -founder of the HTX group, among others.

The BYBIT penetration alone represents more than half of the amount of $ 2.3 billion in the breakthroughs related to encryption in 2024, which represents a large setback for the industry.

Beit 1.4 billion dollars: What you need to know

Blockchain security analysts, including Arkham Intelligence and ONSAIN Sleute Zachbt, follow a Bybit attack on the Lazarus Corean group that followed the country-which is also the main suspect in penetrating the Ronin 600 million dollar network.

According to Mair Dolph, co -founder and coach of Service, the attack is involved in similarities with the penetration of Wazirx Hack of $ 230 million and the penetration of Capital Radiant Capital worth $ 58 million.

Dolph said the ethereum Multisig Cold portfolio was at risk, deceiving the two positions to agree to change the logic of the malicious smart contract.

“It seems that the BYBITISIG COLD wallet has been at risk through a deceptive treatment that set the two positions to agree to change the logic of the malicious smart contract.”

This allowed the infiltrator to control the cold wallet and transfer each eth to an unknown address. “

Ben Chu, CEO of BYBIT, wrote on February 22 to X.

Analysts say the attack highlights that even central exchanges with strong security measures are still vulnerable to advanced electronic attacks.

Over the past year, the North Korean infiltrators were also responsible for penetrating the DMCOIN worth $ 305 million, hacking Upbit of $ 50 million, Capital Radiant Capital penetration of $ 50 million, and hacking of $ 16 million, according to a joint statement issued by the United States Japan and South Korea.

This statement came nearly three weeks after the approval of the South Korean authorities on 15 North Korea, claiming to generate funds for the North Korea nuclear weapons development program by stealing cryptocurrencies and electronic theft.