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

Bybit, one of the world’s largest cryptocurrency exchanges, experienced a hack Friday in which over $1.4 billion worth of crypto was stolen, according to blockchain-analytics firms. It’s the latest incident for an industry struggling with security concerns that present hurdles to mainstream adoption.

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,

Dubai-based exchange Bybit has fallen victim to a monumental security breach, resulting in the theft of approximately $1.5 billion worth of digital as

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.