Bybit suffers 1.4 billion US

• Bybit has used ETH for 1.4 billion US dollars, confirms CEO.
• Despite the massive loss, Bitbit remains solvent and can cover the losses, said Ben Zhou in one position on X.

Bybit has suffered a big exploit, with a hacker stolen more than 1.4 billion US dollars ETH and ETH.

The CEO of the Crypto Exchange Ben Zho confirms The hack over X on Friday and noticed that the attacker exploited a susceptibility to safety that made it possible for them to empty his ETH cold pocket.

Bybit has also released an update Details The incident:

"Bybit has found an unauthorized activity in which one of our ETH cold letters pockets was involved. The incident occurred when our ETH -multi -in -multi -cold letter pocket carried out a transmission to our warm wallet. The right address and the underlying intelligent contract logic changed.

during the exchange was hit by the attack, Zhou explained that Bitbit was "solvent" and that the exchange can cover these losses. Exchange's payouts are also not affected, he says.

"Bybit is solvent, even if this hack loss is not recovered" posted on x . "All of customers' assets are 1-to-1, we can cover the loss."

Several blockchain security platforms and investigators, including ZachxBT, found that the hacker had already started to transfer the funds to new addresses.

meanwhile the blockchain intelligence agency arkham arkham announced a premium as an ecosystem player try to expose the identity of the hacker.