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$1.5B stolen from crypto exchange Bybit

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Cryptocurrency exchange Bybit disclosed a cyberattack in which $1.5 billion worth of Ethereum was stolen.

“Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss,” said Ben Zhou, Bybit’s co-founder and CEO, in a post on X.

The incident is thought to be the largest single digital theft in history.

Read more from The Guardian.

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