A prominent cryptocurrency exchange has reported that it fell prey to a sophisticated cyber-attack, resulting in the theft of approximately $1.5 billion worth of digital assets. This incident is recognized as one of the largest online thefts in history.

On Friday, Bybit announced that a standard transfer of Ethereum—a widely-used cryptocurrency—was “manipulated” by an attacker who redirected the funds to an unknown wallet.

The exchange reassured its users that their cryptocurrency balances remain secure. However, due to the news of the breach, there has been a notable increase in withdrawal requests, which may lead to potential processing delays.

Ben Zhou, the CEO of Bybit, shared on social media that the exchange would maintain its financial stability, even in the event that the stolen funds are not retrieved.

“We can absorb the loss,” he affirmed.

Cybercriminals often target cryptocurrencies, and North Korean state-sponsored hackers have been implicated in numerous significant crypto thefts in recent years. In December, a joint statement issued by the FBI, the Defense Department, and the National Police Agency of Japan attributed a theft of $308 million from a Japanese cryptocurrency firm to North Korean hackers.