Bitcoin, Ether Slide Following Reports of a Massive $1.5B Hack at Bybit

Crypto Market Takes a Hit as Bybit Reports $1.5B ETH Outflow

Cryptocurrency markets faced a sharp downturn on Friday following reports that crypto exchange Bybit had recorded an unexpected $1.5 billion outflow of ether (ETH), raising concerns about a potential security breach.

Bitcoin (BTC) pulled back to $97,000 after nearing the $100,000 milestone earlier in the day, while ether (ETH) dropped nearly 4% to trade below $2,700.

The sudden sell-off triggered roughly $100 million in liquidations, primarily impacting leveraged long positions, according to data from CoinGlass.

On-chain investigator ZachXBT was among the first to highlight the massive ETH movement, calling it “suspicious.” Bybit CEO Ben Zhou later confirmed that the exchange had been hacked, further rattling investor sentiment.

  • Related Posts

    Bitcoin remains supported near $67,500 as Trump indicates a possible end to the Iran war despite Hormuz remaining blocked

    Bitcoin Holds $67,500 as Trump Signals Possible Iran War Exit Bitcoin BTC $67,545 stabilized Tuesday after briefly dropping below $65,200, its lowest point since the Iran conflict began in late…

    Continue reading
    Google: Bitcoin could be more exposed to quantum threats than anticipated, thanks in part to Taproot.

    Google Warns Bitcoin Could Be Vulnerable to Quantum Attacks Sooner Than Expected Bitcoin’s blockchain may be at greater risk from quantum computers than previously thought, and its Taproot upgrade —…

    Continue reading