By Crypto exchange Bybit suffered a massive security breach on February 21, 2025, resulting in the theft of $1.5 billion in cryptocurrency. The heist, one of the largest in history, has raised serious concerns about the security of digital asset platforms.
Bybit announced the breach in a statement, saying, “We are working with cybersecurity experts and law enforcement to investigate the incident and recover the stolen funds.” The exchange has temporarily halted withdrawals and deposits while it strengthens its security measures.
The breach has sparked calls for stricter regulations and better security practices in the crypto industry. “This heist underscores the vulnerabilities of centralized exchanges,” said crypto expert Michael Chen.
The price of Bitcoin and other major cryptocurrencies saw a slight decline following the news, as investors reacted to the breach.