The $1.5 Billion Crypto Heist: The Worst Hack in History?
In what is now being called the biggest cryptocurrency hack in history, hackers stole an astonishing $1.5 billion worth of Ethereum from Bybit, one of the world’s largest crypto exchanges. The incident has shaken the global digital finance community and raised urgent questions about the security of digital assets in 2025 and beyond. What Happened? On February 21, 2025, Bybit confirmed that it had been the victim of a massive cyberattack. The breach involved the theft of approximately 400,000 ETH—valued at around $1.5 billion at the time. This was not a small-scale phishing scam or a bug in a smart contract. Instead, this was a highly sophisticated operation that exploited vulnerabilities in Bybit’s multi-signature wallet system during a routine transfer between their cold and warm wallets. Who Was Behind It? Investigators wasted no time in tracing the origins of the attack. Leading blockchain analytics firms like Elliptic and Arkham Intelligence quickly pointed the finger at the...