Technology & Innovation

The stealing of the cryptocurrency of 1.1 billion pounds can be the largest of all ever


Faria Masoud

BBC Correspondent Business

Getty Images bybit with digital currency currenciesGety pictures

The cryptocurrency company, BYBIT, said that the infiltrators stole 1.5 billion dollars (1.1 billion pounds) of the digital currency in what could be the largest theft of encryption in history.

The founder of the Dubai -based company told users that their money was “safe” and that if any of the affected people recovered.

She said that the infiltrators were stolen from the Ethereum Coin digital portfolio. Ethereum is the second largest encrypted currency at the value after Bitcoin.

Best Ben Chu Founder said that the money can be covered by the company or a loan from the partners. Bybit holds $ 20 billion (15 billion pounds) in assets.

Beit said that the infiltrators took advantage of the safety features, and then converted money into an unidentified address.

After the theft, the value of the ETHEREUM fell by about 4 % on Friday, leaving it at a value of $ 2641.41 (2090 pounds) per currency.

The theft scale will exceed a record number, which was the theft of $ 620 million (490 million pounds) from ETAREUM and Coin from the Ronin network in 2022.

It was founded byBit in 2018.

Bybit says it has more than 60 million users worldwide and provides access to various cryptocurrencies.

“Bybit is a solvent even if this penetration loss is not recovered, all customer assets are supported from 1 to 1, we can cover the loss,” added Mr. Zhu.

The company said In a post on x She had reported the case to the authorities and that she was working “quickly and widely” to get to know the infiltrators.

The cryptocurrency, which has become common for investors, has sparked division because many of them criticize their value because they depend on pure speculation, allowing treatment easily their value.

Recently, Donald Trump has been criticized for launching his own digital currency while saying he “does not know much” about the encrypted currency.

The digital currency called Trump appeared on his social media accounts before its inauguration and soon became one of the most prominent encryption currencies, but it has decreased significantly since then.

It highlights security concerns in the digital currency market, which was hoping to renew confidence after Mr. Trump launched his stomach currency. His advisor and consultants also spoke to billions of Tesla, Elon Musk, also to Bitcoin.

In 2014, Crypto Excination MT Gox It was submitted to bankruptcy After a digital currency of $ 350 million (210 million pounds) was stolen due to a gap in its security.

In 2019, infiltrators It was stolen for $ 41 million from bitcoin Binance exchange in stealing other main encryption currencies.

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