Bybit Sees Over $4 Billion 'Bank Run' After Crypto's Biggest Hack - Yahoo Finance

Summary

Bybit, a major cryptocurrency exchange, suffered a significant hack attributed to North Korea's Lazarus Group, leading to over $5.5 billion in outflows. The breach impacted ether holdings but prompted mainly stablecoin withdrawals. CEO Ben Zhou highlighted security measures and potential blockchain "rollback" discussions in response. The incident underscores key aspects of cryptocurrencies like decentralization, private currencies, and digital wallets, with tags reflecting these elements within the broader context of decentralized finance involving figures like Ben Zhou and exchanges like Bybit.