Bitcoin, Ether Lose Ground as Reports Surface of a $1.5B Security Breach at Bybit

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.