$1.4 Billion Stolen From ByBit in Biggest Crypto Theft Ever

As the so-called Department of Government Efficiency continues to rampage through the United States government by making sweeping cuts to the federal workforce, numerous ongoing lawsuits allege that the group’s access to sensitive data violates the Watergate-inspired Privacy Act of 1974 and that it needs to halt its activity. Meanwhile, DOGE cut staff this week at the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency and gained access to CISA’s digital systems after the agency had already frozen its eight-year-old election security initiatives late last week. ByBit’s $1.4 billion is by that measure a far bigger loss and, considering that all crypto thefts in 2024 totaled to $2.2 billion, according to blockchain analysis firm Chainalysis, a stunning new benchmark in crypto crime. The British government earlier this month raised privacy alarms worldwide when it demanded that Apple give it access to users’ end-to-end encrypted iCloud data.