BitcoinBybit Hack: $1.4b ETH Stolen, Bitcoin Dips To $95K...

Bybit Hack: $1.4b ETH Stolen, Bitcoin Dips To $95K & Ethereum Drops To $2,600

-


Key Points:-

  • Bybit’s CEO confirmed that Bybit lost around $1.5 billion ETH in a hacker attack.
  • Crypto prices dropped on Friday (21st Feb) on the Bybit crypto exchange after a security incident occurred.
  • Bitcoin and Ethereum cryptocurrency prices dropped, and Bitcoin and Ethereum slipped to $95,000 and $2,600 respectively.

Bybit CEO Ben Zhou confirmed on Friday that $1.4 billion was stolen from one of the platform’s offline Ethereum wallets. Bybit is the second largest exchange behind Binance. The theft is the biggest in the history of the industry, and this lost part is more than half of the lost part in 2024, according to a report by analytics company Chainalysis.

As a result, the market reacted with Bitcoin slipping by 3 percent and Ethereum down by 4 percent. Bybit Ceo Zhou attempted to calm down their client’s fear by saying that their assets remain safe.

The Bybit company said in a post on X that it had reported the case to authorities and that it was working “quickly and extensively” to identify the hackers.

Mr Zhou said, “Bybit is solvent even if this hack loss is not recovered, all of the client assets are 1 to 1 backed, we can cover the loss.”

bybit hack

Bybit Hack Update (via Live Stream)

According to Bybit’s latest live stream around 80% of the exchange’s ETH reserves have been affected. As a result, ETH withdrawals may face delays.

We recommend converting your ETH to other cryptocurrencies for faster withdrawals if needed. The team is actively working to resolve the issue and restore normal operations.

Stay tuned for further updates from Bybit.

Latest Update: Withdrawals Working

🚨 BYBIT HACK UPDATE: MASSIVE WITHDRAWALS PROCESSED! 🚨

🔹 Since the hack (10 hrs ago), Bybit has processed a record-breaking 350K+ withdrawal requests!

🔹 99.994% of withdrawals have been successfully completed. 💸

🔹 Only ~2,100 withdrawal requests are left to be processed.

Despite facing one of the worst hacks in financial history, Bybit’s team has been working NON-STOP to ensure all operations remain smooth. 💪

Header ad





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Bitcoin Stable, Ethereum Declines, Niche Tokens Rally

The median cryptocurrency investor saw their portfolio grow by $5,482 in 2024, according to a recent report by...

Binance Pay Transactions Hit $72.4 Billion as Crypto Adoption Accelerates

The use of cryptocurrency for payments has seen significant growth, as evidenced by Binance Pay’s expanding user base...

US AI Safety Institute could face big cuts

The National Institute of Standards and Technology could fire as many as 500 staffers, according to multiple reports...

Ye’s Crypto Gamble: Rumor Mill Links YZY to BNB Launch and Doginal Connection

Kanye West, legally known as Ye, plans to introduce a meme-inspired cryptocurrency named YZY — a move that...

Advertisement

Must read

Bitcoin Stable, Ethereum Declines, Niche Tokens Rally

The median cryptocurrency investor saw their portfolio grow...

Binance Pay Transactions Hit $72.4 Billion as Crypto Adoption Accelerates

The use of cryptocurrency for payments has seen...

You might also likeRELATED
Recommended to you