Bybit’s $1.4 billion hack, the largest in crypto history, might have unexpected implications for Ethereum. As the exchange moves to recover, could this be a bullish catalyst for ETH?

Bybit said it successfully navigated the biggest cryptocurrency heist ever recorded, in which hackers stole about $1.5B in digital assets from the crypto exchange's ethereum cold wallet. Hackers stole over 400,

Bybit suffered one of the largest crypto thefts in history, with $1.5 billion stolen from its cold wallet during a routine transfer. The hack triggered a surge in withdrawals, as users feared Bybit might not recover. The crypto market also reacted negatively, with Ethereum dropping 6.7% and Bitcoin falling 3%.

The world's second-largest crypto exchange Bybit suffered an exploit Friday that saw it drained of about $1.4 billion worth of ethereum and staked ether.

North Korea is behind the massive crypto hack, according to several blockchain monitoring firms and a well-known researcher

Bybit, one of the world’s largest cryptocurrency exchanges, has fallen victim to a $1.46 billion hack—the largest in cryptocurrency history. North Korea’s state-backed Lazarus Group is suspected to be behind the attack.