Bybit hack: $1.5B stolen from ethereum wallet in largest ever crypto heist
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2025
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Source: SeekingAlpha
Bybit's Response to Hack: Bybit successfully managed a significant hack where $1.5 billion in digital assets were stolen, ensuring client assets remained intact through a 1:1 reserve guarantee and processing over 350,000 withdrawal requests within 12 hours.
Investigation and Recovery Efforts: The hack, attributed to North Korea's Lazarus Group, led Bybit to freeze $42.89 million in assets and collaborate with regulators and law enforcement for an ongoing investigation while enhancing their security measures.
Analyst Views on ETHT
Wall Street analysts forecast ETHT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ETHT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 37.730
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Current: 37.730
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
