Bybit Hack Update: Reasons Behind the Breach and How It Affects the Crypto Market

Quick Summary:

Bybit Hack Update: Bybit cryptocurrency exchange is facing a severe security incident that has left the crypto community concerned.

The Bybit hack, which involved the compromise of a multi-signature cold wallet, has resulted in significant financial losses.

This manipulation allowed the attacker to gain control over the Ethereum cold wallet used by Bybit, which held a significant amount of ETH.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: IndiaMali

Topics: Crypto hack 24/7 Cryptocurrency News Bybit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-21 @ 18:01:29 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 634 words

Reading Time: 4 minutes read

Sentences: 48 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 26322029

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 21 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #59

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