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Bybit Sees Over $4 Billion ‘Bank Run’ After Crypto’s Biggest Hack

Summary by Coin Desk
Major cryptocurrency exchange Bybit has seen total outflows of over $5.5 billion after it suffered a near $1.5 billion hack that saw hackers, believed to be from North Korea’s Lazarus Group, drain its ether cold wallet.The total assets tracked on wallets associated with the exchange plunged from around $16.9 billion to $11.2 billion at the time of writing, according to data from DeFiLlama. The exchange is now looking to understand exactly what h…
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Coin DeskCoin Desk

Bybit Sees Over $4 Billion ‘Bank Run’ After Crypto’s Biggest Hack

Major cryptocurrency exchange Bybit has seen total outflows of over $5.5 billion after it suffered a near $1.5 billion hack that saw hackers, believed to be from North Korea’s Lazarus Group, drain its ether cold wallet.The total assets tracked on wallets associated with the exchange plunged from around $16.9 billion to $11.2 billion at the time of writing, according to data from DeFiLlama. The exchange is now looking to understand exactly what h…

·Manila, Philippines
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TechmemeTechmeme

DefiLlama: Bybit experienced a “bank run” of over $4B after the ~$1.5B hack, leading to a ~$5.5B total outflow; CEO says “about 50%” of funds were withdrawn

Top news and commentary for technology's leaders, from all around the web.

·California, United States
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Coin Desk broke the news in Manila, Philippines on Saturday, February 22, 2025.
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