The Bybit crypto heist surpasses a previous record in 2022, when hackers drained $620m (£490m) heist of Ethereum and USD Coin from the Ronin Network. In 2019, the Binance exchange suffered another major crypto heist with hackers making off with $41 million worth of Bitcoin.

"All client funds are safe, and our operations continue as usual without any disruption," the company said, adding its security team, along with forensic experts, was investigating the incident

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

Major cryptocurrency exchange Bybit has seen total outflows of over $5.5 billion after it suffered a near $1.5 billion hack that saw hackers,

Bybit, a major cryptocurrency exchange based in Dubai recently announced it had been hacked, losing $1.5 billion worth of the cryptocurrency Ethereum in the largest cryptocurrency theft of all time. Putting it into perspective,

The crypto industry is rallying to recover funds stolen in the $1.5 billion Bybit hack, with exchanges freezing nearly $43 million just two days after the attack. A coordinated effort among centralized and decentralized platforms has led to the swift blacklisting of hacker-linked addresses,

Bybit is a well-known cryptocurrency exchange with more than 60 million users. It’s regularly ranked among the top five cryptocurrency exchanges online by volume. The hack was disclosed on Feb. 21. The company said an attacker gained control of an Ethereum wallet and transferred the holdings in the wallet to an unknown address.

Cruel hackers have stolen over £1billion in cryptocurrency in what has been described as the "worst hack in history". Dubai-based Bybit exchange revealed that a hacker took control of an Ethereum wallet and transferred its assets to an anonymous address.