The recent Bybit ETH theft incident, involving 31,090,486,479, has caused a huge stir in the cryptocurrency community, significantly impacting market sentiment. Hackers exploited platform vulnerabilities to steal over $1.5 billion worth of ETH, marking the largest theft in cryptocurrency history. As news broke, the cryptocurrency market collectively plummeted, with Bitcoin experiencing a sharp drop and Ethereum crashing by 6.7% within 24 hours, leading to over 170,000 liquidations and a pervasive sense of panic. Investors have begun to question the security of the platform, suffering a severe blow to their confidence, which has prompted a reevaluation of the risks in the cryptocurrency space. Many are now taking a cautious wait-and-see approach, with some even choosing to withdraw their funds.