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Event File CRYPTO Bitcoin Cryptocurrency Exchanges Cyberattacks Bybit

Bybit Says AI Saved $700 Million After Record Crypto Hack

1 reports · First detected 2026-08-19 · Last active 2026-08-19

Bybit lost about $1.46 billion in crypto assets on Feb. 21, 2025, in an attack attributed to North Korean hackers, one of the largest thefts ever suffered by a cryptocurrency exchange. The breach underscored the operational risks facing centralized platforms: even assets held behind cold-wallet and multisignature safeguards can be exposed when attackers compromise the processes and people responsible for approving transactions.

One year after the breach, Bybit said its adoption of artificial intelligence had helped the company save $700 million, though the available disclosure did not provide a detailed breakdown of how the figure was calculated. The claim makes Bybit the first major centralized crypto institution to attach a concrete financial number to a recent argument in the Bitcoin community that AI can materially improve security and operating efficiency.

All Coverage

1 original reports
COINDESK.COM 2026-08-19
A year after losing $1.46 billion, Bybit says AI helped it save $700 million

The Backstory

The history behind this event
Binance Says AI Security Tools Prevented More Than $10 Billion in Fraud Losses2026-05-12 · 1 reports · similarity 0.82

Cryptocurrency exchange Binance has continued to integrate AI into transaction monitoring, risk detection and account protection as fraud rings use automated tools to scale up attacks. Because on-chain funds move quickly and are difficult to recover, the ability to intercept suspicious activity before a transfer directly affects the security of user assets and market confidence.

Binance said its AI-powered security tools helped prevent more than $10.5 billion in losses to user funds between 2025 and the first quarter of 2026. The company has launched more than 24 AI security initiatives in total, and AI now supports more than half of its fraud-prevention functions as Binance responds to increasingly sophisticated automated attacks.

Bybit Says AI Risk System Blocked $300 Million in Suspicious Withdrawals in Q4 20252026-03-03 · 1 reports · similarity 0.82

Crypto exchange Bybit has deployed an AI-assisted risk-monitoring system to identify and flag suspected fraudulent withdrawals in real time. Because crypto transfers are typically difficult to recover once completed, intercepting abnormal transactions before funds leave an exchange has become critical to protecting users’ assets and maintaining trust in the platform.

Bybit said the system blocked more than $300 million in suspicious, fraud-related withdrawals in the fourth quarter of 2025, from October through December. When it detects a risk, the system immediately alerts users and prompts them to cancel the transaction themselves. Bybit claims the system protected the assets of more than 4,000 users during the period.

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