cnbc
Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what’s estimated to be the largest crypto heist in history.
The attack compromised Bybit’s cold wallet, an offline storage system designed for security. The stolen funds, primarily in ether, were quickly transferred across multiple wallets and liquidated through various platforms.
“Please rest assured that all other cold wallets are secure,” Ben Zhou, CEO of Bybit, posted on X. “All withdrawals are NORMAL.”
Blockchain analysis firms, including Elliptic and Arkham Intelligence, traced the stolen crypto as it was moved to various accounts and swiftly offloaded. The hack far surpasses previous thefts in the sector, according to Elliptic. That includes the $611 million stolen from Poly Network in 2021 and the $570 million drained from Binance in 2022. More
And that right there is why I would never invest into Crypto.
Rich is a big time investor, I’m really interested in his opinion and exposure.
Managements got to take a hard look at this new Google add (I’m pretty damn sure) that is killing your site. WTF? My right index finger is getting huge. WTF?
After being an electrical engineer and computer architect for over 50 years, I will not venture into the crypto market. TOO much hacking and exposure to crooks. I only invest in silver and gold and if you can get past my arsenal you will still be unlikely to walk off with it…
^^^^
I invest in lead friend. Well and some copper.
I know where all my gold and silver are. Nuff said.
^^^^^ Bad_Brad
Hollow point Teflon coated
Dumb Bunnies
We’re on the same page. I’m still prepared for the worst.
And our democratic crooks want to have digital currency. That will break your savings. And most likely it will end up in their pockets, after a long journey around the dark internet web. But don’t bad mouth them they know whats best for themselves.
I thought a premise of crypto was supposed to be that it was totally fraud and theft proof, being all high-tech and such.
Hey, anybody seen my $1Trillion coin? I had it in my pocket yesterday.
….and it’s gone! Next, please.
I’m pretty sure it’s not sitting on the floor of the bank in the French town of Clermont…. or in Fort Knox.
Which reminds me, has anyone heard what Trump did or did not find in Fort Knox?
Magic numbers, (i.e. crypto,) is still a thing?