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.

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

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.

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

The Federal Bureau of Investigation (FBI) asked for crypto industry help in tracking and blocking transactions intended to launder the $1.5 billion stolen from Bybit by North Korean hackers.

The malicious Javascript code used in the attack could secretly modify transactions for SafeWallet, a cryptocurrency wallet provider.

Dubai-based crypto exchange Bybit had recently become the victim of the world's largest-ever crypto theft worth $1.5 billion.