On February 21, Bybit CEO Ben Zhou approved a routine transaction that inadvertently facilitated the largest cryptocurrency heist to date, with hackers stealing $1.5 billion in Ether. This breach was orchestrated by cybercriminals linked to North Korea, exploiting vulnerabilities in Bybit's reliance on a free software product for security. This incident not only resulted in devastating financial losses but also sent shockwaves through the crypto markets, significantly eroding investor confidence at a critical juncture as regulation discussions loom.
On February 21, Ben Zhou, CEO of Bybit, unintentionally authorized the largest crypto heist in history, totaling $1.5 billion, by approving a routine transaction.
The cyber attack exposed a significant vulnerability in Bybit's security; using a free software product, hackers linked to North Korea executed the unprecedented breach.
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