Crypto Market Slides as $1.5B ETH Exits Bybit in Suspected Hack
Bitcoin (BTC) and ether (ETH) slumped on Friday after reports emerged of a massive $1.5 billion outflow from crypto exchange Bybit, sparking fears of a potential security breach.
BTC fell to $97,000 after briefly nearing $100,000, while ETH dropped nearly 4% to trade below $2,700.
The sell-off triggered roughly $100 million in liquidations, mostly from leveraged long positions, according to CoinGlass.
Blockchain analyst ZachXBT flagged the unusual movement of ETH, raising concerns about a possible exploit. Bybit CEO Ben Zhou later confirmed the breach in a post on X, intensifying market anxiety.
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