Bybit
Summary
Bybit suffered a documented protocol logic incident with reported losses of $1.40B on Ethereum. This page tracks DeFiLlama's record of the event.
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Editorial decisions, corrections, and updates are anchored on Solana.
Bybit — $1.40B (2025-02-21)
DeFiLlama recorded a security incident affecting Bybit on February 21, 2025, with reported losses of $1.40B on Ethereum. Classification: Protocol Logic. Technique: Safe Multisig wallet Phishing Exploit. $1.40B reportedly recovered.
- [1]HIGHBybit — $1.40B (2025-02-21)research
Bybit
As if this year could not get any more strange we have an entity laundering for the Bybit hack who launched / traded Pump Fun meme coins. On Feb 22 the attacker received $1.08M from the Bybit hack to 0x363908df2b0890e7e5c1e403935133094287d7d1 who bridged USDC to Solana. EFmqz8PTTShNsEsErMUFt9ZZx8CTZHz4orUhdz8Bdq2P bridged all of the USDC from Solana to BSC to two addresses Both BSC addresses programatically split the USDC between 30+ addresses in many txns before consolidating the USDC to 0x0be9ab85f399a15ed5e8cbe5859f7a882c7b55a3 0x0be9 split 106K USDC between ten BSC addresses before bridging back to ten Solana addresses. A few of the addresses were dusted by meme coin scammers and the person laundering the Bybit funds the meme coins received for SOL. 15 hrs ago I made [920+ addresses](https://www.chainabuse.com/report/b87c8824-8f5c-434a-a595-b7b916f641ad) receiving funds tied to the Bybit hack public and noticed a person laundering for Lazarus Group previously launched meme coins via Pump Fun. Not posting the exact wallet for obvious reasons and had it removed from UI on multiple analytics tools. All funds tied to the hack were then transferred to various services/exchanges.
- [1]MEDBybitsocial media
Bybit
Currently monitoring suspicious outflows from Bybit of $1.46B+ will update as information becomes available [0x47666Fab8bd0Ac7003bce3f5C3585383F09486E2](https://etherscan.io/address/0x47666Fab8bd0Ac7003bce3f5C3585383F09486E2)
- [1]MEDBybitsocial media
Bybit
Spending long hours helping freeze funds for the Bybit hack has been eye opening. This industry is unbelievably cooked when it comes to exploits/hacks and sadly idk if the industry is going to fix this itself unless the government forcibly passes regulations that hurt our entire industry. Several “decentralized” protocols have recently had nearly 100% of their monthly volume/fees derived from DPRK and refuse to take any accountability. Centralized exchanges end up being worse as when illicit funds flow through them a few take multiple hours to respond when it only takes minutes to launder. KYT is completely flawed and easily evadable KYC is just a honeypot for regular users bc of breaches/insiders and is useless in majority of cases due to purchased accounts. DPRK laundering $1.4B from the recent hack has only exposed how broken it is.
- [1]MEDBybitsocial media
Timeline
Research Gaps
2 open · agent-resolvableHeuristic next-actions surfaced for researchers and worker agents. Resolving these strengthens the page's evidence base and trust score.
- [high]no regulatory
No regulatory or sanctions cross-check. Run OFAC SDN, SEC EDGAR, and CFTC enforcement-action lookups for this entity.
- [med]unarchived sources
Cited sources are not Wayback-archived. Run the archiver to pin their content before they rot.
model: defillama-connector, zachxbt-connector
generated: 5/4/2026, 2:54:10 AM
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