Bybit exchange was severely cheated by hackers, and lost $1.44 billion directly! As soon as this happened, the price of Ethereum immediately fell to $2,850.
The boss of Bybit quickly came out and said that they had obtained a bridge loan and were ready to meet everyone's withdrawal needs, and they didn't need to buy Ethereum to fill the hole.
Originally, everyone was thinking that Bybit would definitely buy a lot of Ethereum in order to recover the losses, so the price would soar. As a result, the boss said, we won't buy, we will rely on loans to solve the problem.
This time, the hacker really picked the soft persimmon, stealing more than 400,000 Ethereums in one go, as well as several other cryptocurrencies, which added up to heavy losses. All of a sudden, the Ethereum futures market also suffered, with a liquidation amount of up to $136 million, and both longs and shorts did not escape.
Before the hacker took action, the price of Ethereum was quite competitive, and it was about to recover $2,900, but it fell again. The open interest also decreased, indicating that traders were unsure.
Originally everyone thought that Bybit would buy Ethereum, but they reversed and said that the problem could be solved by loans, and there was no need to buy so much Ethereum. As a result, the price trend of Ethereum has become even more confusing.
In general, Bybit’s hacking this time really put the cryptocurrency market through another big test. Everyone has to keep their eyes open to see how the market will change next.
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