Crypto exchange Bybit has apparently been hacked. Bybit, based in Singapore, reports over 60 million users worldwide and is said to be the world’s second-largest cryptocurrency exchange by trading volume. It was not immediately clear as to how much may have been stolen from the exchange. Bybit does not serve customers in the US.
According to a post on X, Bybit has “detected unauthorized activity involving one of our ETH cold wallets.”
The company said the “sophisticated attack” had “masked the signing interface, displaying the correct address while altering the underlying smart contract logic.” The hacker gained access to a wallet and transferred funds to an unidentified address.
“Our security team, alongside leading blockchain forensic experts and partners, is actively investigating the incident. Any teams with expertise in blockchain analytics and fund recovery who can assist in tracing these assets are welcome to collaborate with us. We want to assure our users and partners that all other Bybit cold wallets remain fully secure. All client funds are safe, and our operations continue as usual without any disruption. Transparency and security remain our top priorities, and we will provide updates asap.”
Bybit is hosting a live-stream on the incident in the coming minutes. The live-stream is available here.
Update: 401,000 ETH may have been stolen.
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