Crypto exchange Bybit says ether wallet hacked

WASHINGTON: Cryptocurrency exchange Bybit said on Friday that an attacker gained control of an ether wallet and transferred the holdings to an unidentified address.

Ether cold wallet was the only one that was attacked and all other wallets of the exchange were unaffected and withdrawals were proceeding normally, CEO Ben Zhou said, in a post on X.

“All client funds are safe, and our operations continue as usual without any disruption,” the company said, adding that its security team, along with forensic experts, was investigating the incident.

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Bybit caters to more than 60 million users worldwide and offers access to various cryptocurrencies, including bitcoin and ether.

“Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss,” Zhou added.

This is a developing story