Cryptocurrencies experienced one of their best days in a long time. However, traders found themselves with a sense of unease. The price of BTC swiftly retreated to $97,000, while altcoins faced significant losses. Heightened concerns regarding a billion-dollar transfer led to increased selling pressure.
Was BYBIT Hacked?
ZachXBT recently reported a suspicious outflow of over a billion dollars from the BYBIT exchange.
“Currently, suspicious outflows exceeding $1.46 billion are being tracked from Bybit. mETH and stETH are now being swapped with ETH on DEXs. My sources confirmed this as a security threat incident.”
The price of ETH dropped to around $2,678, and hopes are that BYBIT will clarify the situation to allow for a market recovery. If the situation escalates further, it could lead to even greater losses in the coming hours.
