Bybit has fallen victim today to one of the largest crypto hacks ever recorded, with hackers reportedly stealing over $1.4 billion worth of ETH.

Bybit has regained half of its Ether (ETH) reserves following a $1.4 billion cryptocurrency hack that sent shockwaves through the global Web3 industry. On Feb. 21, Bybit exchange was hacked for over $1.

In simpler terms, the hacked ether supply is likely lost permanently. Furthermore, Bybit, which has reportedly secured a bridged loan from unnamed partners to cover nearly 80% of the ether lost in the Friday hack, will likely need to purchase coins in the market.

Bybit’s $1.4 billion Ethereum hack has been reportedly linked to the notorious Lazarus group. As expected, this triggered a withdrawal frenzy as investors exited the crypto exchange en masse. In fact, according to Bybit’s founder and CEO Ben Zhou, the exchange saw record withdrawal requests, but they were all handled smoothly.

Ethereum (ETH) has dropped by 3.6% in the past couple of hours as Bybit, the second-largest exchange in the world by spot trading volume, confirmed that it was hacked.

Bybit Reveals 50% Increase in Ether Reserves After $295 Million ETH Purchase Bybit , a popular cryptocurrency exchange, has recently disclo

Over 405,000 ETH, valued at approximately $1.1 billion, were drained from the exchange and subsequently dispersed across multiple wallets. As expected, this incident has triggered speculation about potential sell-offs and buybacks, making Ethereum’s near-term trajectory uncertain.

There has been another crypto heist and this time, it's the biggest one in history. Here's everything you need to know about the Ethereum theft.

The cryptocurrency market took a hit after Bybit suffered what is now the largest hack in industry history, with over $1.46 billion in Ethereum (ETH) and staked Ethereum (stETH) drained from the exchange.