Bybit hacked with $1.4 billion worth of ETH stolen

This is a very sad event when any exchange has both to the hack. Today Bybit exchange has been affected by the hack and their cold wallet for Ethereum is affected. The exchange has confirmed this news in social Media and they have announced it for the community.

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Hacking is never a good experience for the community but still it happens however the right approach is to come forward by the exchange and inform the community. The same approach has been adopted by the exchange and they have early mentioned that only there Ethereum cold wallet is affected and other coins are safe. Operations are normal as usual for now however maybe later they can think out haulting their operations.

Bybit, the Singapore-based centralized crypto exchange, has been hacked, according to its CEO Ben Zhou. In other words, the hacker appears to have tricked Bybit’s ETH cold wallet signers into approving a malicious transaction to surreptitiously gain control of the wallet.

It's true that no exchange should face this situation but still it's happening and it's because hackers are way more advanced in terms of technology.

Bybit is a leading crypto exchange and it's rank is second according to market cap and userbase. Let so that the exchange comfort be some idea as which can be in a way that they are more user oriented and people would have to face no loss because of this tragic event however there has been no update so far by the exchange because change must be trying something to figure out the solution.

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