The $1.5 Billion Crypto Heist: More ‘Inside Job’ Than Hack? | by Chip Mahoney | The Capital | Feb, 2025
It happened in seconds. One moment, Bybit’s cold wallet sat secure. The next, it was empty. A digital vault, holding over a billion dollars, drained without a single alarm blaring. No smashed glass, no getaway cars — just a clean, seamless transfer into the abyss of the blockchain.
To the untrained eye, it looked like a hack. But was it?
The sheer scale of this theft, $1.5 billion in Ethereum, suggests something far more sophisticated than your average cybercriminal. The precision. The timing. The knowledge of Bybit’s security setup. All of it points to one of two possibilities: either the greatest crypto hacker of all time just pulled off their masterpiece, or this was an inside job — a heist planned and executed from within.
Larry Fink’s Silent Crisis — But What About Regular Investors?
The biggest investors are moving fast. Tokenized assets on-chain — like Destiny Tech 100 (SpaceX) — are unlocking opportunities once reserved for the ultra-wealthy. Larry Fink warns about a silent crisis of saving, not investing. But now, you don’t have to sit on the sidelines.
