[Chapman]

There is a news circulating that some hacker hacked bybit and moved stETH? Anyone else have an idea about it?

Source : https://cointelegraph.com/news/bybit-exchange-hacked

[campusminger]

jesus christ 1.4 billlionnn, wtf

[Chapman]

jesus christ 1.4 billlionnn, wtf

Yes bro, i also shocked and worried now because if it's true, market gonna be crash. Let's see.

[SIM-2501407]

aaand just like that there goes our 2.8k eth and 99k btc.

oh well, these things happen all the time it seems. It also isnt clear from the article what amts were taken. Says ethereum tokens so may not impact ETH as directly as you may think

[Mewtwo]

Wouldn’t be surprised if it was done by DPKR. Always those guys who have a whole full squad of hackers just stealing crypto left and right

[The_Orange_Badger]

This is why we don't keep crypto on exchanges.

[Helltoy]

Imagine the emotions you go through when you steal $1.4 billion. Are you scared? Are you happy?
On the other hand, imagine the emotions of the person who loses $1.4 billion or persons who was responsible for it. Are they scared? Are they happy?

Announcements from bybit.
https://announcements.bybit.com/en/artic...4d26e9140/
https://etherscan.io/txs?a=0x47666Fab8bd...9486E2&p=5

[peldon]

I'm impressed by this hack ! A cold wallet ! Amazing !

[SUI-3183372]

Wouldn’t be surprised if it was done by DPKR.

It was

[Mewtwo]

It was

I wonder how they even figure out it was done by them. Laundering tactics? Or IP address leaks?

[SUI-3183372]

I wonder how they even figure out it was done by them. Laundering tactics? Or IP address leaks?

Laundering tactics is generally one of the major indicators. Lazarus group follows a pretty rigid playbook when securing the stolen funds.

I'm not sure how they made the determination it was Lazarus yet, but SEAL (SEcurity ALliance) had it pegged to them pretty quickly after it happened.

[Braco22]

Crypto generally will recover from this. I don't know the panic sellers selling Bitcoin and other ALTs when Ethereum was stolen mostly.

[SUI-3183372]

Crypto generally will recover from this. I don't know the panic sellers selling Bitcoin and other ALTs when Ethereum was stolen mostly.

In the past a big hack like this would have had market wide implications. Bybit would halt withdrawals, people would lose access to funds, the entire market would tank.

Bybit are handling this responsibly though. They pulled out a bridge loan to replenish their ETH to continue processing withdrawals. Looks like they're doing their best to not let this impact their customers or the broader market.

Luckily for us, this happened to an exchange who's more than prepared to take and on weather this sort of storm. Bybit have impressed in response to this.

Crypto generally will recover from this.

This

Lost $1.5b, didn't stop processing withdrawals, didn't crumble under the overwhelming number of requests. Kudos to Bybit.

[Omniscient]

In the past a big hack like this would have had market wide implications. Bybit would halt withdrawals, people would lose access to funds, the entire market would tank.

Bybit are handling this responsibly though. They pulled out a bridge loan to replenish their ETH to continue processing withdrawals. Looks like they're doing their best to not let this impact their customers or the broader market.

Luckily for us, this happened to an exchange who's more than prepared to take and on weather this sort of storm. Bybit have impressed in response to this.

This

Lost $1.5b, didn't stop processing withdrawals, didn't crumble under the overwhelming number of requests. Kudos to Bybit.

Huge hack, maturing market naturally without regulation. And because it's public ledger, I think the stolen stETH can be marked as such and hopefully stay off main exchanges.

[ep1capple]

if somehow the hacked funds are successfully isolated and stay in the hacked wallet it's potentially bullish isn't it? it's a massive supply that is now forever locked in place with no real way to cash it out. I don't see how they can successfully withdraw.