Bybit's $1.5 Billion Breach

The Bybit exchange suffered the largest single crypto theft in history in February 2025, losing approximately $1.5 billion in Ether due to a private key leak in its hot wallet system or compromised workstation.

The top 3

  1. Largest Crypto Heist Ever Recorded: The Bybit breach on February 21, 2025, involved the theft of approximately $1.5 billion in Ethereum-based assets, making it the largest cryptocurrency heist in history at the time it occurred. Bybit
  2. How Attackers Manipulated Bybit's Multi-Sig Wallets: The Bybit breach involved sophisticated manipulation of its Ethereum multisig cold wallet. Attackers tampered with the transaction approval interface and used social engineering to trick authorized signers into approving a malicious transfer of approximately $1.5 billion in ETH and stETH during a routine internal fund transfer. Bybit
  3. Exploiting Hot Wallet Vulnerabilities and Transaction Signing: Attackers leveraged a private key leak in Bybit's hot wallet system and manipulated a transaction-signing process, reportedly through a compromised third-party developer's workstation, to steal 400,000 ETH.

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