$1.5 Billion Ethereum Heist: Inside the Biggest Crypto Theft in History

XRP Whale Alert: $51,849,820 XRP Withdrawn From Major Crypto Exchange

In a significant transaction that has captured the attention of the cryptocurrency community, 20,000,000 XRP, valued at $51,849,820, was transferred from the Gemini exchange to an unknown wallet. This movement, reported by blockchain tracker Whale Alert, has sparked speculation about its purpose. Large withdrawals like this often suggest accumulation by whales, potentially reducing selling pressure and signaling long-term holding intentions. This could be a bullish indicator for XRP. According to U.Today, the number of whale and shark wallets holding XRP has increased by 261 over the past 10 weeks, reflecting growing confidence among key stakeholders. Despite this, XRP's price has remained relatively stable, trading within a narrow range of $2.30 to $2.83. Analysts predict that a breakout from this range could lead to a significant price movement.

Source: U.Today (https://u.today/xrp-whale-alert-51849820-xrp-withdrawn-from-major-crypto-exchange)

Hackers Steal $1.5 Billion in Ethereum in Largest Crypto Heist

The cryptocurrency exchange Bybit has suffered what is being called the largest digital theft in history, with hackers stealing $1.5 billion worth of Ethereum. The attack occurred during a routine transfer from a cold wallet to a warm wallet, as reported by The Guardian. Bybit CEO Ben Zhou assured users that all client assets are backed 1:1 and that the company remains solvent despite the loss. The exchange has processed over 350,000 withdrawal requests since the incident and is offering a 10% reward for the recovery of the stolen funds. The hack has raised concerns about security in the crypto industry, with some experts suspecting North Korean state hackers, such as the Lazarus Group, to be behind the attack.

Source: The Guardian (https://www.theguardian.com/technology/2025/feb/23/crypto-exchange-seeks-bybit-ethereum-stolen-digital-wallet)

Bybit CEO Reassures Users After $1.4 Billion Hack

Following the massive $1.4 billion Ethereum theft, Bybit CEO Ben Zhou has confirmed that the exchange is solvent and capable of covering all user assets. According to The Daily Hodl, the hack, which affected 401,000 Ethereum, is being described as the largest heist in crypto history. Zhou stated that all withdrawal requests have been processed without delays, and the exchange is working with blockchain forensic experts to trace the stolen funds. Bybit has also launched a recovery bounty program, offering up to 10% of the recovered amount as a reward to ethical hackers and security experts.

Source: The Daily Hodl (https://dailyhodl.com/2025/02/23/bybit-ceo-says-crypto-exchange-is-solvent-all-user-assets-backed-11-following-largest-heist-of-all-time/)

Details Emerge on Bybit's $1.5 Billion Crypto Hack

Business Insider reports that Bybit's recent hack, which resulted in the theft of $1.5 billion worth of Ethereum, occurred during a routine transfer from a cold wallet to a warm wallet. The attackers exploited a vulnerability in the signing interface, allowing them to manipulate the transaction. Bybit has since processed over 580,000 withdrawal requests and is collaborating with blockchain experts to recover the stolen funds. The exchange has also announced a recovery bounty program, offering rewards to those who assist in retrieving the assets.

Source: Business Insider (https://www.businessinsider.com/what-we-know-bybit-crypto-ethereum-hack-2025-2)

eXch Denies Involvement in Laundering Bybit's Hacked Funds

Crypto exchange eXch has denied allegations of laundering $35 million from the Bybit hack, which has been linked to North Korea's Lazarus Group. According to Cointelegraph, eXch admitted to processing a small portion of the stolen funds but stated that it was an isolated case. The exchange has faced criticism from blockchain analysts and security firms for its alleged involvement. Bybit CEO Ben Zhou has urged eXch to assist in blocking the outflow of stolen funds, emphasizing the importance of industry-wide cooperation against hackers.

Source: Cointelegraph (https://cointelegraph.com/news/crypto-exchangexch-denies-laundering-bybit-hacked-funds)

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