Bybit Security Incident: Timeline of Events and FAQs

Introduction

Bybit suffered a major hacking incident on Feb 21, 2025, affecting one of Bybit's Ethereum cold wallets and resulting in almost $1.5 billion in losses. The exploit is linked to the North Korean state-backed Lazarus Group.

Timeline of Events

February 21, 2025, 13:30 UTC — Bybit conducted a routine transfer from one of our Ethereum multisig cold wallets to a warm wallet, first transferring an amount of 30,000 ETH.