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BYBIT Hack & BYBIT Warning (Patreon)

Published:
2025-02-21 17:47:18
Imported:
2026-06
Tags:

Content

Bybit Security Breach: Urgent Warning

A major security breach has hit Bybit, one of the largest cryptocurrency exchanges, on February 21, 2025. Users are strongly advised to consider withdrawing their funds immediately due to the following reasons:

  • Massive Hack: Approximately $1.4-$1.5 billion worth of cryptocurrency, primarily ETHEREUM and ETHEREUM related tokens, was stolen from Bybit's cold wallet.

  • Sophisticated Attack: The hackers manipulated the user interface seen by wallet signers, tricking them into approving a malicious transaction.

  • Potential Bank Run: There are concerns about a possible "bank run" as users may rush to withdraw their funds, potentially leading to liquidity issues.

  • Uncertainty: While Bybit claims to have sufficient reserves to cover liabilities, the situation remains volatile and uncertain.

Given the severity of the breach and the potential for further complications, users should seriously consider moving their assets off the Bybit exchange to secure personal wallets or other trusted platforms.

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Comments

Mark

Methodology TraderTraitor employs sophisticated social engineering techniques in order to establish an initial foothold. One common tactic is to create a fake recruiter persona and to reach out to employees via LinkedIn. More recently, TraderTraitor may also reach out over other platforms such as Telegram or Twitter. Once connected, TraderTraitor will work to establish trust before deploying malware on the target’s machine. This can come in the form of a technical interview, where the target is instructed to clone a git repository and to install the dependencies and/or run the project, or in the form of a malicious attachment sent by a seemingly trustworthy source disguised as a PDF or other benign file. From here, TraderTraitor will spend anywhere from days to months performing reconnaissance within internal systems in order to identify where private keys or other high value secrets are held, as well as who the high value targets are. TraderTraitor may also deploy additional malware, such as malicious Chrome extensions used to modify the contents of trusted websites.

Jay Jay

On the same day that I received my money from FTX via Kraken, I withdrew all my funds from ByBit and sent them to my Phantom wallet. I’m not letting this happen to me twice. Thank you, James.