16 hours ago
Cryptocurrency prices dropped connected Friday, reversing aboriginal gains connected reports that crypto speech Bybit was seeing $1.4 cardinal worthy of crypto outflows successful a imaginable information incident.
Bitcoin (BTC) slid to adjacent $97,000 aft hovering adjacent $100,000 earlier during the day, portion ether (ETH) slipped astir 4%, dipping beneath $2,700. The abrupt downturn liquidated astir $100 cardinal worthy of leveraged derivatives trading positions, overwhelmingly longs anticipating prices to rise, CoinGlass information shows.
The determination happened aft well-followed blockchain sleuth ZachXBT noted a "suspicious" $1.4 cardinal ETH outflow. Ben Zhou, CEO of Bybit confirmed the hack successful an X post.
UPDATE (Feb. 21, 16:07 UTC): Adds details astir liquidation and updates terms actions. Read more: Bitcoin and Ether Tumble connected Potential $1.46B Bybit Hack
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