PANews reported on February 21 that Bybit posted on the X platform that it had detected unauthorized activity involving an ETH cold wallet. When the incident occurred, the ETH multi-signature cold wallet was transferring funds to the hot wallet. Unfortunately, the transaction was manipulated by a complex attack that obscured the signature interface and changed the underlying smart contract logic. As a result, the attacker was able to control the affected ETH cold wallet and transfer its assets to an unknown address.

The Bybit security team, blockchain forensics experts and partners are actively investigating this incident. Any team with expertise in blockchain analysis and fund recovery who can assist in tracing these assets is welcome to cooperate. Bybit said that all other Bybit cold wallets are absolutely safe, all customer funds are safe, operations are proceeding as usual, there will be no interruptions, and updates will be provided as soon as possible.