Cryptocurrencies prices dropped on Friday, overthrowing the first gains on the reports that Crypto Exchange Bybit saw $ 1.5 billion in crypto outings in a potential security incident.
Bitcoin (BTC) slipped to nearly $ 97,000 after hovering almost $ 100,000 earlier during the day, while Ether (ETH) slipped almost 4%, diving below $ 2,700.
The sudden slowdown has liquidated approximately $ 100 million in leveraging derivatives negotiations, which massively provides prices, according to Coinglass data.
The move occurred after the detective well followed Zachxbt noted an exit of $ 1.5 billion “suspect” of $ 1.5 billion. Ben Zhou, CEO of Bybit confirmed the hack in a post X.
Update (February 21, 16:07 UTC): Add details on the liquidation and updates prices actions.
Read more: Bitcoin and Ether fall on a bordeau hacking of 1.46b
