Bybit Exchange Loses $1.5 Billion in a Hack: A Detailed Look at What Happened.
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A big cryptocurrency exchange called Bybit was recently robbed of a lot of digital money. Someone stole about $1.5 billion worth of cryptocurrency, which is one of the biggest online thefts ever.
Bybit said the thief tricked their system while they were moving Ethereum between wallets. This allowed the thief to take the cryptocurrency and send it to their own hidden account.
Bybit wanted to calm their customers down and said their money was still safe with them. They also said that because so many people tried to take their money out at once, there might be a delay in getting their money back.
The CEO of Bybit, Ben Zhou, said that even if they don't get the stolen money back, the company will be okay. He said they have enough money to cover the loss.
Stealing cryptocurrency is something that hackers do a lot, especially hackers from North Korea. In fact, North Korean hackers were blamed for stealing $308 million from a Japanese cryptocurrency company just last December.
Questions
What happened to Bybit?
Bybit was robbed of about $1.5 billion worth of cryptocurrency.
How did the thief steal the cryptocurrency?
The thief tricked Bybit's system while they were moving Ethereum between wallets.
What did Bybit say about their customers' money?
Bybit said their customers' money was still safe with them, but there might be a delay in getting it back.
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