The hacking to Bybit underlines the urgent need to strengthen safety in cryptocurrency exchanges and reinforces the debate on the adoption of decentralized solutions for the protection of digital assets.
The Bybit cryptocurrency exchange suffered a large -magnitude cyber attack, with estimated losses at more than US $ 1,400 million in Ethereum (ETH). The incident, confirmed by the co -founder and CEO of the platform, Ben Zhou, generated great concern in the crypto community and revives the debate on the safety of centralized exchanges.
On-Chain Zackxbt security analyst was one of the first to alert about the hacking, noting that the attackers managed to subtract not only ETH, but also other digital assets such as Staked Ethereum (Steth) and Megaeth (Meth).
Ben Zhou explained that the attack occurred due to the manipulation of a transaction from Bybit’s multifirma wallet to a hot wallet of the platform. According to the manager, The transaction seemed legitimatebut in reality it contained malicious code that altered the logic of the intelligent contract and allowed the diversion of the funds.
How they managed to violate Bybit’s security
The first analyzes suggest that the attackers used an “interface pHishing” or “UI spoofing” tactics. This technique deceives transaction signatories by showing apparently legitimate information, while in reality they are approving critical changes in intelligent contracts or authorizing transfers to directions controlled by hackers.
The fraudulent transaction was designed for the signatories to see a manipulated interface that showed the right direction and a SAFE URL, a security platform for digital asset storage. However, the firm authorized a modification in the logic of the intelligent cold wallet contract, which allowed attackers to take control of the funds.
Bybit response and measures adopted
Given the seriousness of the attack, Bybit immediately implemented a series of measures to protect the remaining assets and strengthen their safety:
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Internal research: A thorough audit has begun to identify the vulnerabilities exploited by the attackers.
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Emergency maintenance: The platform has carried out updates in its systems to reinforce security.
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Users guarantee: Ben Zhou said that all other cold wallets remain safe and that retreats continue to operate normally.
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Call to the Community: Bybit has requested the collaboration of Blockchain security experts to track stolen funds.
Trojans Cellular Hack.webp
Impact on the crypto ecosystem
Bybit hacking adds to a series of security incidents that have affected the cryptocurrency industry in recent months. So far from 2025, attacks on exchanges and Defi protocols have increased significantly, which has led to a growing debate about security and the need to strengthen protection measures in the sector.
Despite the magnitude of the loss, Ben Zhou said that Bybit maintains its solvency and that customer assets are backed 1: 1, which guarantees the continuity of operations without affecting users. “We can cover the loss and continue operating normally,” the CEO said in a statement.
The Bybit case reinforces the need for exchanges to adopt more strict security measures and encourage the adoption of decentralized solutions that reduce the dependence of third parties in the custody of digital assets. Meanwhile, the crypto community remains attentive to new updates on the recovery of stolen funds and actions that may derive from this incident.
Source: Ambito
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