Cryptocurrency prices fell across the board on Friday, as markets reacted to the hack of Bybit, where more than $1.4 billion worth of Ethereum and other assets were stolen from the exchange.
اضافة اعلان
The CEO of Bybit revealed that the cryptocurrency platform had been hacked, resulting in the theft of over $1.4 billion in Ethereum and other assets.
Following the breach, the stolen funds began to be transferred to new addresses, where they are being sold.
As of now, $200 million worth of STETH has been sold, according to Arkham Intelligence.
Bitcoin lost over $3,279, reaching $95,262, a drop of more than 3% during Friday's trading session.
Ethereum saw a decline of more than 4%, falling to $2,638.
Similarly, Solana dropped more than 3.5%, reaching $168.
In this incident, the attackers modified the logic of the smart contract, which allowed them to gain unauthorized control and withdraw over $1 billion worth of funds. Reportedly, the stolen assets are being swapped for ETH as the hacker attempts to launder the stolen money.
The scale of the outflow has raised significant concerns within the cryptocurrency community, as security experts continue to monitor the hacker’s transactions, while efforts to trace the stolen funds and potentially recover them are ongoing.
