#LitecoinETF

🔥 On February 21, 2025, cryptocurrency exchange Bybit experienced a significant security breach, resulting in the theft of approximately 401,346 Ether (ETH), valued at around $1.4 billion. This incident stands as one of the largest crypto heists to date.

The breach occurred during a routine transfer from Bybit's Ethereum multisignature cold wallet to a warm wallet. Attackers executed a sophisticated manipulation, masking the signing interface to display the correct address while altering the underlying smart contract logic. This deception allowed them to gain control of the cold wallet and siphon its contents to an unidentified address.

In response, Bybit's CEO, Ben Zhou, assured users that all other wallets remain secure and that client funds are unaffected. He emphasized that withdrawals are proceeding normally and that the exchange maintains full solvency, with client assets backed on a 1:1 basis.

The exchange's security team, alongside external blockchain forensic experts, is actively investigating the incident to trace and recover the stolen funds. Notably, the attackers have already dispersed portions of the stolen ETH across multiple addresses, complicating recovery efforts.

This event underscores the persistent vulnerabilities within the cryptocurrency sector, even among platforms employing advanced security measures. It highlights the critical need for continuous vigilance and enhancement of security protocols to safeguard digital assets.