Hackers Attack Crypto Exchange ByBit, Move $1.46bn ETH

The company also confirmed this incident, releasing a statement on the “unauthorized activity” of the hackers, who transferred the digital currency into several accounts.

In the notice obtained by Business Post, the crypto firm said it has started to delete the accounts involved in the “unauthorized activity involving one of our ETH cold wallets.”

ByBit explained that, “The incident occurred when our ETH multisig cold wallet executed a transfer to our warm wallet.”

“Unfortunately, this transaction was manipulated through a sophisticated ​attack that masked the signing interface, displaying the correct address while altering the underlying smart contract logic.

“As a result, the attacker was able to gain control of the affected ETH cold wallet and transfer its holdings to an unidentified address,” it added.

The company disclosed that, “Our security team, alongside leading blockchain forensic experts and partners, is actively investigating the incident. Any teams with expertise in blockchain analytics and fund recovery who can assist in tracing these assets are welcome to collaborate with us.”

The statement assured “our users and partners that all other Bybit cold wallets remain fully secure. All client funds are safe, and our operations continue as usual without any disruption,” stressing that, “Transparency and security remain our top priorities.”