The cryptocurrency exchange Bybit has fallen victim to an attack resulting in the theft of digital assets valued at $1.5 billion. Experts estimate this to be the largest theft in the history of this sector.

Dubai-based cryptocurrency exchange Bybit Technology Ltd. has been hacked, with some $1.5 billion in cryptocurrency stolen in what is believed to be the largest single theft in cryptocurrency history.

The hack that rocked the crypto market and saw most prices tumbling was called the "largest crypto theft of all time, by some margin," by Elliptic's Tom Robinson, co-founder and chief scientist. "The next largest crypto theft would be the $611 million stolen from Poly Network in 2021. In fact it may even be the largest single theft of all time."