{"id":466649,"date":"2025-02-21T16:54:14","date_gmt":"2025-02-21T16:54:14","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=466649"},"modified":"2025-12-13T01:00:07","modified_gmt":"2025-12-13T01:00:07","slug":"bybit-suffers-1-5-billion-ethereum-heist-in-cold-wallet-breach","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bybit-suffers-1-5-billion-ethereum-heist-in-cold-wallet-breach\/","title":{"rendered":"ByBit suffers $1.5 billion Ethereum heist in cold wallet breach"},"content":{"rendered":"<p><span style=\"color: #333333;\">The crypto exchange\u00a0<\/span><a href=\"https:\/\/cryptoslate.com\/companies\/bybit\/\" target=\"_blank\" rel=\"noopener\">ByBit<\/a><span style=\"color: #333333;\">\u00a0has been hacked, and roughly $1.5 billion in\u00a0<\/span><a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a><span style=\"color: #333333;\"> (ETH) has been\u00a0<\/span>stolen \u2014 making this one of the biggest hacks in history.<\/p>\n<p>On Feb. 21, the crypto trading platform <a href=\"https:\/\/x.com\/Bybit_Official\/status\/1892965292931702929\">stated<\/a> on social media platform X that it detected unauthorized activity involving one of its Ethereum cold wallets.<\/p>\n<p>According to the firm:<\/p>\n<blockquote><p>&#8220;The incident occurred when our ETH multisig cold wallet executed a transfer to our warm wallet. Unfortunately, this transaction was manipulated through a sophisticated attack that masked the signing interface, displaying the correct address while altering the underlying smart contract logic.<\/p>\n<p>As a result, the attacker was able to gain control of the affected ETH cold wallet and transfer its holdings to an unidentified address.&#8221;<\/p><\/blockquote>\n<p>While the exchange did not reveal the total amount stolen, on-chain <a href=\"https:\/\/etherscan.io\/tx\/0xb61413c495fdad6114a7aa863a00b2e3c28945979a10885b12b30316ea9f072c\">data<\/a> shows that the attacker siphoned 401,346<b>.<\/b>76 ETH (worth approximately $1 billion).<\/p>\n<p>Meanwhile, blockchain analysis firm Lookonchain <a href=\"https:\/\/x.com\/CyversAlerts\/status\/1892961939422142868\">stated<\/a> that the stolen assets involved around $1.5 billion in different assets, including staked Ethereum.<\/p>\n<p>The platform added that the suspicious address has already begun swapping the stolen funds for ETH.<\/p>\n<h2>ByBit still operating<\/h2>\n<p>ByBit stated that all of its operations are still &#8220;normal&#8221; and that it was investigating the incident.<\/p>\n<p>The exchange said:<\/p>\n<blockquote><p>&#8220;Our security team, alongside leading blockchain forensic experts and partners, is actively investigating the incident. Any teams with expertise in blockchain analytics and fund recovery who can assist in tracing these assets are welcome to collaborate with us.&#8221;<\/p><\/blockquote>\n<p>Meanwhile, <a href=\"https:\/\/cryptoslate.com\/people\/ben-zhou\/\">Ben Zhou<\/a>, ByBit's CEO, corroborated the situation while <a href=\"https:\/\/x.com\/benbybit\/status\/1892963530422505586\">emphasizing<\/a> that:<\/p>\n<blockquote><p>&#8220;Bybit Hot wallet, Warm wallet and all other cold wallets are fine. The only cold wallet that was hacked was ETH cold wallet. ALL withdraws are NORMAL.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The crypto exchange\u00a0ByBit\u00a0has been hacked, and roughly $1.5 billion in\u00a0Ethereum (ETH) has been\u00a0stolen \u2014 making this one of the biggest hacks in history. On Feb. 21, the crypto trading platform stated on social media platform X that it detected unauthorized activity involving one of its Ethereum cold wallets. According to the firm: &#8220;The incident occurred [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":466650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,39,77968,16041],"tags":[77833,76128,72190],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ByBit suffers $1.5 billion Ethereum heist in cold wallet breach<\/title>\n<meta name=\"description\" content=\"ByBit seeks collaboration from blockchain experts to trace $1.5B in assets stolen from its Ethereum cold wallet.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bybit-suffers-1-5-billion-ethereum-heist-in-cold-wallet-breach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ByBit suffers $1.5 billion Ethereum heist in cold wallet breach\" \/>\n<meta property=\"og:description\" content=\"ByBit seeks collaboration from blockchain experts to trace $1.5B in assets stolen from its Ethereum cold wallet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bybit-suffers-1-5-billion-ethereum-heist-in-cold-wallet-breach\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-21T16:54:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-13T01:00:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/02\/bybit-hack.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bybit-suffers-1-5-billion-ethereum-heist-in-cold-wallet-breach\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bybit-suffers-1-5-billion-ethereum-heist-in-cold-wallet-breach\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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