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.
This guide breaks down the Bybit hack of 2025, what happened, how Bybit responded, and what this means for the crypto market moving forward.
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Bybit exchange repays 40,000 ETH post-hack loan from BitgetOn-chain data highlighted that Bybit exchange transferred 40,000 Ethereum worth approximately $100 million back to Bitget.
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