Biggest Crypto Theft, Hackers Stole UsD 1.5 Billion from bybit exchange, Bitcoin, Ether

In the last few years, cases of hacking of cryptocurrency firms have increased. In a similar case, the hacker has stolen a cryptocurrency of about $ 1.5 billion by breaking into the system of crypto exchange bybit. It has also had a major impact on the Crypto market. This has led to a decline in many cryptocurrency including Bitcoin.

It is being described as the biggest theft of cryptocurrency. This has led to a decline in the Crypto market. In terms of market value, the largest cryptocurrency Bitcoin’s price declined by about two percent to about $ 96,462. Ether has been stolen in bybit hacking. Due to this, the price of Ether has dropped more than 2.40 percent. On publishing this report, the price of the ether on the International Crypto Exchange Binance was around 2.42 percent to about $ 2,694.

The Chief Executive Officer of Bybit, Ben Zhou, said that the hacker had controlled one of the offline Ethereum Wallets of the exchange. However, the total damage to the exchange in this hacking has not been detected. Bybit may cause a loss of about $ 1.5 billion. The hacker has started selling stolen cryptocurrency. This cryptocurrency is being sold on a new address.

Recently, bybit had said that it has paid a fine of more than nine crore rupees in India. The Financial Intelligence Unit (FIU) imposed the fine on bybit for not following the rules. Along with this, this Crypto Exchange has also registered with FIU. It is mandatory for all Crypto firms doing business in the country to register with FIU. Bybit had informed its customers in the country that it was stopping its services temporarily. After this, FIU had said that this exchange did not follow the Prevention of Money Laundering Act (PMLA) and would have to pay a fine of about Rs 9.27 crore. Bybit has reported that it has completed regulatory shortcomings along with paying the fine. This Crypto Exchange in Dubai started in 2018. Bybit claims that it has more than four crore users in many countries.