Bybit and Crypto Smarts.

"The attacker used the "sweep ETH function," a smart contract mechanism designed to transfer all available tokens from one contract to another, which likely explains why the transferred amounts are round numbers. "

Therein lies the rub, as they say.

The function all Crypto Bros make out to be the one enormous advantage of cryptocurrencies: smart contract mechanisms.

Might need to be renamed dumb arse contract mechanisms.

Crypto exchange Bybit confirms hack as over $1.4 billion worth of ETH leaves wallets

Via The Block, published 21 February 2025