Cryptocurrency exchange Bybit suffered a sophisticated smart contract exploit on February 21, 2025, resulting in the theft of 401,346.76 ETH (approximately $1.2 billion at the time of the incident).
The attack vector leveraged advanced proxy contract manipulation through malicious delegatecall operations, marking one of the most technically complex exchange hacks in Web3 history.
https://gbhackers.com/bybit-hot-wallet-exploit/