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.

The world's second-largest crypto exchange Bybit suffered an exploit Friday that saw it drained of about $1.4 billion worth of ethereum and staked ether.

Bybit experienced a significant security breach, marking one of the largest hacks in cryptocurrency history. Hackers infiltrated one of Bybit’s Ethereum (ETH) cold wallets, stealing approximately 401,