Major Crypto Hacks: From Bybit to Mt.​ Gox - A Security Wake-up Call

馃攼 When Hackers Go Whale Hunting

By Flexswap
Feb 24, 2025, 3:31 PM
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Recent Bybit Hack Highlights Industry Vulnerabilities

On February 21, 2025, Bybit exchange suffered a $1.​5B hack, losing Ethereum from their cold wallet.​ The attack, potentially linked to North Korea's Lazarus Group, ranks among crypto's largest breaches.​

Historical Context:

  • Mt.​ Gox (2014): 850,000 BTC lost
  • Ronin Network (2022): $625M stolen
  • Poly Network (2021): $611M breached
  • Coincheck (2018): $534M compromised

Essential Security Tips:

  • Use hardware wallets
  • Enable 2FA
  • Keep passwords offline
  • Never share seed phrases
  • Diversify storage solutions

Despite Bybit's assurance of fund safety, this incident serves as a crucial reminder for enhanced security measures.​

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