Bybit, one of the world’s largest cryptocurrency exchanges, fell victim to a significant cyberattack resulting in the theft of $1.5 billion worth of Ethereum assets.

A large-scale cyberattack targeted Bybit, one of the leading cryptocurrency exchanges globally.

The stolen assets mainly consisted of Ethereum (ETH) and its derivatives, totaling an estimated $1.5 billion as per initial investigations. Bybit’s CEO, Ben Zhou, confirmed the cyberattack through a statement on social media. Following the hack, Bitcoin markets experienced a sharp decline.