Dubai-based crypto exchange Bybit has suffered one of the largest hacks in digital currency history, losing approximately $1.5 billion worth of Ethereum. The security breach led to a "bank run" exceeding $4 billion in withdrawals.

Bybit, a major cryptocurrency exchange based in Dubai recently announced it had been hacked, losing $1.5 billion worth of the cryptocurrency Ethereum in the largest cryptocurrency theft of all time. Putting it into perspective,

Bybit, one of the world’s largest cryptocurrency exchanges, experienced a hack Friday in which over $1.4 billion worth of crypto was stolen, according to blockchain-analytics firms. It’s the latest incident for an industry struggling with security concerns that present hurdles to mainstream adoption.