The Bybit crypto hack, the largest in history, shines a spotlight again on central crypto exchange security. DePIN, the rising star of Web3, could have prevented the hack.

Assets were stolen from Dubai-based cryptocurrency exchange Bybit earlier this month, in what's believed to be the largest-ever digital heist.

Bybit, one of the world’s largest cryptocurrency exchanges, experienced a hack Friday in which over $1.4 billion worth of crypto was stolen, according to blockchain-analytics firms. It’s the latest incident for an industry struggling with security concerns that present hurdles to mainstream adoption.

Following the revelation Friday from cryptocurrency exchange firm Bybit that hackers stole digital tokens worth about $1.5 billion – in what may be the biggest crypto heist of all time – CEO Ben Zhou wrote on X Sunday that it has replenished its reserves. Bybit was able to do this through a mix of emergency loans and large deposits.

It's only February but hackers have already stolen $1.6 billion in exploits, blockchain security firm Immunefi has said.

Ben Zhou, Bybit's CEO, said that the hack had affected around 401,000 Ethereum and sparked a surge in withdrawal requests.

Bybit has officially filled the $1.4 billion hole left by one of the biggest crypto hacks in history. CEO Ben Zhou announced that the exchange