Bybit Blocks 1 Billion DOT Fake Deposit Attacks

Bybit, the world's second-largest cryptocurrency exchange, successfully detected and blocked a series of coordinated fake deposit attacks across multiple blockchain networks on April 8, 2026. These sophisticated attacks aimed to exploit vulnerabilities in deposit scanning systems to deceive the exchange into crediting non-existent funds, with potential losses exceeding 1 billion DOT. Bybit's Group Risk Control team, led by David Zong, neutralized all attempts in real time, ensuring no user funds were affected. The attacks employed advanced techniques, including batch transaction mechanisms designed to fail large transfers while succeeding smaller ones, and multi-step transactions combined with ownership changes to simulate incoming funds. Bybit's multi-layered validation framework, which includes full on-chain visibility, precision filtering, a multi-layer validation engine, and anomaly detection, proved effective in safeguarding user assets. This incident underscores the evolving nature of cyber threats in the crypto industry, drawing parallels to historical exploits like the Mt. Gox transaction malleability and Silk Road deposit bug.