Bybit, a leading cryptocurrency exchange, was hit by a record $1.5 billion heist on February 21, 2025. The breach, which exploited a vulnerability in Bybit’s security systems, has raised alarms about the safety of digital asset platforms.
In a statement, Bybit said, “We are working with cybersecurity experts and law enforcement to investigate the breach and recover the stolen funds.” The exchange has temporarily suspended withdrawals and deposits as it works to secure its platform.
The heist has reignited debates about the need for stricter regulations and improved security measures in the crypto industry. “This incident is a wake-up call for the entire industry,” said crypto analyst Emily Zhang.
The price of Bitcoin and other major cryptocurrencies dipped slightly following the news, as investors reacted to the breach.
