Cryptocurrency theft of £1.1bn could be biggest ever

Cryptocurrency firm Baibit said that hackers stole $ 1.5BN (£ 1.1bn) to the price of digital currency, which could be the biggest crypto theft in history.

The founder of the Dubai -based company told users that their funds were “safe” and if any of them would be returned again.

It said that hackers stole their atherium coin digital wallet. The atherium is the second largest cryptocurrency by the price after bitcoin.

Baibit founder Ben Jhou said that money can be covered by firm or by loans from partners. The property in the bybit has $ 20bn (£ 15bn).

Bybit said the hackers exploited security facilities, then transferred the money to an unknown address.

After the theft, the value of the atherium fell nearly 4% on Friday, making it $ 2,641.41 (£ 2,090) per coin.

The theft scale would be higher than the previous record, which was $ 620m (£ 490m) of the Etharium and USD coins from the Ronin Network in 2022.

The bibit was established in 2018. US President Donald Trump and former PayPal chief Peter Thial were allegedly among its early investors.

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

“Bibit is solvent, even though this hack los has not been recovered, all clients assets are supported from 1 to 1, we can cover the loss,” said Mr. Jhow.

The company said In a post on X This reported the case to the authorities and was working “early and massive” to identify hackers.

Cryptocurrency, which has become popular with investors, has sparked the division, as many people have criticized their value for purely speculation, which can easily manipulate their value, which can easily manipulate their value .

Recently, Donald Trump has been criticized for launching his digital coin, saying “don’t know much” about Cryptocurrency.

The digital coin called Trump appeared on its social media accounts before its inauguration and quickly became one of the most valuable crypto coins, but has since fallen quite into the price.

This highlights security concerns within the digital currency market, which was expecting a new trust after Mr. Trump launched his coin. His advisor and tesla’s multiples owner, Elon Musk, has also spoken on bitcoin in the past.

In 2014, Crypto Exchange MT Gox filed for bankruptcy The price of the digital currency was stolen after £ 350m (£ 210m), stolen due to a flaw in its security.

In 2019, hackers Bitcoin stolen $ 41 meters stolen Another major Crypto-Mudra successor in the successor.