Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

The crypto industry is rallying to recover funds stolen in the $1.5 billion Bybit hack, with exchanges freezing nearly $43 million just two days after the attack.

Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion worth of tokens in the biggest theft ever committed in the industry. Researchers believe North Korean hackers were likely responsible.

Bybit experienced a significant security breach, marking one of the largest hacks in cryptocurrency history. Hackers infiltrated one of Bybit’s Ethereum (ETH) cold wallets, stealing approximately 401,

The world's second-largest crypto exchange Bybit suffered an exploit Friday that saw it drained of about $1.4 billion worth of ethereum and staked ether.

A price chart on the Bybit website for the cryptocurrency Ethereum is displayed Friday on a computer screen in New York.

Bybit data breach is one of the biggest crypto attack in the history. Earlier in July 2024, WazirX suffered the worst cyberattack on an Indian cryptocurrency exchange, losing around $235 million. This hack was linked to North Korean hackers.

Analysts believe the attack is connected to North Korea's Lazarus Group, a state-sponsored hacking collective infamous for stealing billions from the cryptocurrency sector. Per Ben Zhou, CEO of Bybit,