Breaking: Hackers Steal $1.4 Billion in Ethereum from Bybit in Cyberattack

(EPICSTORIAN) — Bybit has reported a security breach involving one of its Ethereum (ETH) cold wallets after a cyberattack allowed unauthorized transactions.

The exchange stated that attackers manipulated a transaction signature, enabling them to take control of the wallet and transfer funds to an unidentified address.

According to Bybit, the breach occurred when its ETH multisig cold wallet executed a transfer to a warm wallet.

The transaction was reportedly manipulated through an advanced attack method that masked the signing interface, displaying a legitimate address while altering the underlying smart contract logic.

The exchange confirmed that the attacker was able to gain control of the affected wallet before moving the assets.

Blockchain Forensic Experts Investigating the Incident

Bybit said its security team, along with blockchain forensic specialists and industry partners, is actively investigating the attack. The exchange called on experts in blockchain analytics and asset recovery to assist in tracking the stolen funds.

“We are working closely with leading security experts to analyze the breach and trace the transferred assets,” the company stated.

User Funds and Other Cold Wallets Remain Secure

Bybit assured customers that all other cold wallets remain secure and that user funds were not impacted by the breach. The exchange stated that its operations continue without disruption.

“All client funds are safe, and the platform remains fully operational,” Bybit said. “We continue to implement security measures to prevent further incidents.”

Ongoing Security Measures and Investigation

Bybit stated that additional security measures are being implemented in response to the attack.

While the exchange did not disclose the exact amount of ETH stolen, it said steps are being taken to mitigate risks and prevent future breaches.

The company said updates will be provided as the investigation progresses.