According to Bybit's holdings, that amounts to $1.5 billion in cryptocurrency that was stolen from Bybit and its customers, making this the largest ever cryptocurrency theft. However, as Molly White of Web3IsGoingGreat points out, the hacker can't exactly cash out $1.5 billion in Ethereum, because an amount that high would crash the value of ETH.

Lazarus Group, hackers based in North Korea, tricked Bybit CEO Ben Zhou into approving a transfer of 400,000 ethereum tokens from his company's cold wallet.

The crypto industry is rallying to recover funds stolen in the $1.5 billion Bybit hack, with exchanges freezing nearly $43 million just two days after the attack.