Bybit’s $1.5 Billion Hack: Human Error, Industry Resilience, and Why Crypto Gets Judged Differently
On February 21, 2025, Bybit, one of the largest crypto exchanges, suffered an attack when hackers exploited a routine transfer from a cold wallet to a warm wallet—a standard process in crypto exchanges to ensure liquidity. The attackers managed to intercept this transfer, diverting approximately 400,000 ETH ($1.5 billion) to unknown addresses.
$1.5B Hack of Bybit Might Be the Largest Crypto Heist Ever
Following the revelation Friday from cryptocurrency exchange firm Bybit that hackers stole digital tokens worth about $1.5 billion – in what may be the biggest crypto heist of all time – CEO Ben Zhou wrote on X Sunday that it has replenished its reserves. Bybit was able to do this through a mix of emergency loans and large deposits.
This guide breaks down the Bybit hack of 2025, what happened, how Bybit responded, and what this means for the crypto market moving forward.
Bybit's forensic report reveals that a $1.5 billion hack was facilitated by a vulnerability in Safe{Wallet}'s infrastructure.
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