Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what’s estimated to be the largest crypto heist in history.

It praised the work of industry groups that came together to help trace, block and recover some of the stolen funds. For example, the mETH Protocol team successfully recovered 15,000 cmETH tokens worth around $43m, Bybit said.

Hackers stole about $1.5bn in crypto tokens from Bybit, in a heist the digital asset exchange described as the biggest theft to hit the industry. Ethereum coins were been taken from Bybit’s offline or “cold” wallet, the exchange’s chief executive Ben Zhou said in a post on X.