DuJuns

CoinPhoton News – Du Jun, partner at ABCDE Capital, revealed on X on April 7, 2025, that they lost $30 million on ETH, emphasizing "Cash is king." The market is tense as ETH dropped from $3,400 to $2,100 due to Trump’s tariffs.

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Question What are the details and implications of ABCDE Co Founder #DuJuns recent significant Ethereum deposit?

Answer
Du Jun the co founder of the venture capital firm ABCDE has deposited 10000 ETH approximately 16 million USD into the cryptocurrency exchange Bybit on February 22 2025 He committed to not withdrawing these funds for at least one month

This move comes after a major security breach at Bybit on February 21 2025 where hackers stole over 14 billion in cryptocurrency assets

To support Bybit during this crisis other major players have also taken action

Bitget provided a loan of 40000 ETH approximately 1059 million USD to help Bybit handle withdrawal requests

MEXC transferred 12600 stETH approximately 3375 million USD to Bybits hot wallet

These collective actions show strong industry support aimed at restoring trust in Bybit and stabilizing the market after the attack However users are advised to stay cautious and follow security best practices when using cryptocurrency exchanges