Crypto Exchange Bybit Says Wallet Hacked, With $1.5 Billion Estimated Loss
ground.news
Crypto exchange Bybit announced on Friday that “a sophisticated attack” led to the theft of Ethereum (ETH) from one of the company’s offline wallets. Bybit’s chief executive and co-founder Ben Zhou said in a livestream that the hackers stole around 401,346 ETH, which at the time of the theft amounts to about $1.4 billion.

I’m not a crypto guy but the ceo says, “Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss”

And I’m just wondering, wtf, how?