$1.5 billion stolen from Bybit exchange in biggest crypto heist ever. Meanwhile, Argentina’s Milei under investigation
$1.5 billion.
That’s the amount of money that has just been stolen by hackers from one of the world’s biggest crypto exchanges.
On Friday, Ben Zhou, cofounder and CEO of the crypto exchange Bybit, shared that hackers had gained control of Bybit’s ETH (Ethereum) wallet and transferred all of its holdings to an unknown crypto wallet address.
Bybit ETH multisig cold wallet just made a transfer to our warm wallet about 1 hr ago. It appears that this specific transaction was musked, all the signers saw the musked UI which showed the correct address and the URL was from @safe . However the signing message was to change…
— Ben Zhou (@benbybit) February 21, 2025
According to Bybit’s holdings, that amounts to $1.5 billion in cryptocurrency that was stolen from Bybit and its customers, making this the largest ever cryptocurrency theft. However, as Molly White of Web3IsGoingGreat points out, the hacker can’t exactly cash out $1.5 billion in Ethereum, because an amount that high would crash the value of ETH. [Continue reading…]
Argentine President Javier Milei was reported on Tuesday to a Spanish prosecutor’s office for his involvement the $LIBRA cryptocurrency scandal. The Argentine president is already facing legal challenges in the United States and his native Argentina after promoting a token that subsequently plummeted, leaving thousands of investors with losses for millions of dollars.
Developers of $LIBRA withdrew around US$100 million from the project during this period, driving accusations that the operation constituted a “pump and dump,” along with allegations of insider trading.
“Today we are filing a complaint against the possible frauds of Milei’s cryptobrothers in Spain,” Gerardo Pisarello, the Spanish deputy who presented the criminal complaint, said in a speech to Congress.
Pisarello urged the prosecutors to “investigate the consequences in Spain of fraudulent operations” he alleges the Argentine president helped perpetrate. [Continue reading…]