Bybit Hack: Real Breach or Financial Scam?
February 21, 2025 — Bybit reported a “hack” resulting in the theft of 401,346 ETH ($1.4–$1.5B). However, the swift response and lack of panic raise suspicions.

Red Flags:
Instant Compensation. Unknown sponsors covered losses immediately—who are they?
Prepared CEO Statement. Ben Zhou’s response seemed too polished.
Unusual User Calm. No rush to withdraw, unlike typical hacks.
Lazarus Group Blamed. A common but unproven scapegoat.
Possible Motives:
Fake Hack. An excuse to move funds secretly.
Liquidity Crisis Cover-Up. A way to erase debts.
Money Laundering. Assets vanished through mixers.
Regulatory Evasion. Convenient asset restructuring.
Conclusion:
Was this a real breach or a well-planned financial move? The evidence points to Bybit managing the situation too smoothly. Trust centralized exchanges at your own risk—self-custody is safer.

#Bybit #CryptoHack #Blockchain #CyberSecurity