Feb 22, 2025
Bybit Addresses Security Incident: Reports of Significant ETH Outflow
Recent reports highlight a significant outflow of ETH from cryptocurrency exchange Bybit. Blockchain analyst ZachXBT flagged approximately $1.46 billion in ‘suspicious outflows’. The activity appears to involve the movement of a substantial amount of ETH (401,346 ETH, valued around $1.1 billion) and related staked ether assets to a new wallet. This wallet has reportedly been actively converting…