The Bybit hack is officially the largest crypto heist in HISTORY.

$1.5B+ stolen and still counting. That's 16% of ALL previous crypto hacks COMBINED.

https://www.coindesk.com/business/2025/02/22/bybit-sees-over-usd4-billion-bank-run-after-crypto-s-biggest-hack

Bybit Sees Over $4 Billion ‘Bank Run’ After Crypto’s Biggest Hack

The Bybit hack is officially the largest crypto heist in HISTORY.  $1.5B+ stolen and still counting. That's 16% of ALL previous crypto hacks COMBINED.  https://www.coindesk.com/business/2025/02/22/bybit-sees-over-usd4-billion-bank-run-after-crypto-s-biggest-hack

Jerome Cody

Crypto hit by major hacks in Q1: According to web3 platform Immunefi, the crypto industry as a whole lost $1.64 billion due to hacks and security breaches in Q1, setting a new all-time record. It’s a bit of a misleading number, though, as $1.46 billion of those losses come from the February Bybit heist alone. In all, North Korea’s notorious Lazarus Group are believed to be responsible for a whopping 94% of the total losses.

https://www.theblock.co/post/348440/crypto-industry-worst-quarter-hacks-in-history-1-6-billion-usd-losses-immunefi?_bhlid=c8f4944f4cc098e293821322c58bf30b693c78ba

Crypto hit by major hacks in Q1: According to web3 platform Immunefi, the crypto industry as a whole lost $1.64 billion due to hacks and security breaches in Q1, setting a new all-time record. It’s a bit of a misleading number, though, as $1.46 billion of those losses come from the February Bybit heist alone. In all, North Korea’s notorious Lazarus Group are believed to be responsible for a whopping 94% of the total losses.  https://www.theblock.co/post/348440/crypto-industry-worst-quarter-hacks-in-history-1-6-billion-usd-losses-immunefi?_bhlid=c8f4944f4cc098e293821322c58bf30b693c78ba

BNB Chain surpassed Ethereum to become the most targeted network in Q1, accounting for 19 individual attacks.

Crypto industry set for worst quarter for hacks in history with $1.6 billion in losses: Immunefi

Nate

After the bybit hack... the only TRUE WAY to make sure your Safe transactions are 100% safe is to calculate the hash manually, OFFLINE! am i the only one doing this? 😁

Cyril

This whole episode sounds fishy.   

https://www.elliptic.co/blog/bybit-hack-largest-in-history

This whole episode sounds fishy.     https://www.elliptic.co/blog/bybit-hack-largest-in-history

Bybit, the largest theft in history. On February 21st 2025, approximately $1.46 billion in cryptoassets was stolen from Bybit, a Dubai-based exchange.

The Largest Theft in History - Following the Money Trail from the Bybit Hack

Not a controversial take IMO. It's a public ledger where everyone can easily track txs. Nothing bad about that IMO. 

If you want privacy, you can still achieve it though. Just create a new wallet -> fund it through mixer/cex -> don't disclose your wallet with anyone.

For big scale scam/fraud/heists it will be hard to "wash" money. Because major platforms can easily blacklist you

Controversial take on the Bybit hack: It proves that crypto is NOT censorship-resistant..?

Crypto was originally built on the idea of being censorship-resistant. But what happens now? The stolen funds are being tracked, addresses blocked, and authorities are doing everything to track the hackers down.

Don’t get me wrong: I fully support catching the attackers and stopping the stolen funds. But this just highlights once again: Crypto is not a It’s just a get-rich-quick casino, but is also not a censorship-resistant, free financial system. 

What do you think? Is true censorship resistance even possible... or has it always been a myth? 🤔

Controversial take on the Bybit hack: It proves that crypto is NOT censorship-resistant..?  Crypto was originally built on the idea of being censorship-resistant. But what happens now? The stolen funds are being tracked, addresses blocked, and authorities are doing everything to track the hackers down.  Don’t get me wrong: I fully support catching the attackers and stopping the stolen funds. But this just highlights once again: Crypto is not a It’s just a get-rich-quick casino, but is also not a censorship-resistant, free financial system.   What do you think? Is true censorship resistance even possible... or has it always been a myth? 🤔

Sam Mendoza

Not a controversial take IMO. It's a public ledger where everyone can easily track txs. Nothing bad about that IMO.   If you want privacy, you can still achieve it though. Just create a new wallet -> fund it through mixer/cex -> don't disclose your wallet with anyone.  For big scale scam/fraud/heists it will be hard to "wash" money. Because major platforms can easily blacklist you

Jerome Cody

A group of likeminded people in Crypto are talking about this.