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On February 21, 2025, Bybit suffered a massive $1.5 billion hack, once again highlighting the risks associated with centralized exchanges. Hackers manipulated wallet signatures, taking full control of Bybit’s cold wallet and transferring funds to unknown addresses. While the exchange managed to recover $50 million, the incident raised serious concerns about the security of user funds.
On February 21, 2025, Bybit suffered a massive $1.5 billion hack, once again highlighting the risks associated with centralized exchanges.
Hackers manipulated wallet signatures, taking full control of Bybit’s cold wallet and transferring funds to unknown addresses. While the exchange managed to recover $50 million, the incident raised serious concerns about the security of user funds.
