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Crypto Exchange Bybit Reports Hack, Analysts Estimate $1.5 Billion Loss

  • Cryptocurrency exchange Bybit reported a hack in which a cyberattacker stole some of its holdings.
  • Analysts estimate the loss to total nearly $1.5 billion worth of tokens, making it one of the largest incidents in the crypto industry.
  • Bybit's security team is working with blockchain forensic experts to investigate the incident and trace the assets.
  • The exchange assured users that all other Bybit cold wallets remain secure and client funds are safe.

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