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?

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

A major cryptocurrency exchange says it was the victim of a sophisticated hack that stole about $1.5 billion worth of digital currency, marking one of the biggest online thefts of all time. Bybit said Friday that a routine transfer of Ethereum,

Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion worth of tokens in the biggest theft ever committed in the industry. Researchers believe North Korean hackers were likely responsible.

Bybit, one of the world’s largest cryptocurrency exchanges, experienced a hack Friday in which over $1.4 billion worth of crypto was stolen, according to blockchain-analytics firms. It’s the latest incident for an industry struggling with security concerns that present hurdles to mainstream adoption.

Bybit, a major cryptocurrency exchange based in Dubai recently announced it had been hacked, losing $1.5 billion worth of the cryptocurrency Ethereum in the largest cryptocurrency theft of all time. Putting it into perspective,

Analysts believe the attack is connected to North Korea's Lazarus Group, a state-sponsored hacking collective infamous for stealing billions from the cryptocurrency sector. Per Ben Zhou, CEO of Bybit,