Bybit Handles Record-Breaking Fund Outflow Amid Security Incident 🛡
Bybit has just witnessed one of the largest single-day withdrawals in cryptocurrency exchange history. CEO Ben Zhou reassured the community that all withdrawal requests have been processed seamlessly, with the platform operating normally and without delays.$XRP
Following the incident, the total capital outflow has reached nearly $5 billion, distributed as follows:
Hackers: Approximately $1.5 billion in unauthorized transactions.
Bybit’s Collateral Adjustments: Between $1.3–$1.5 billion allocated for loan security.
User Withdrawals: Around $2 billion withdrawn by customers safeguarding their assets.
This event sets a new precedent for large-scale fund movements within a single day. For context: During Binance's insolvency speculation in 2022, $7.3 billion exited the platform over a week, while FTX’s downfall triggered a $6 billion withdrawal frenzy in just 72 hours. The scale of this Bybit event underscores the magnitude of security concerns and investor reactions in today's crypto landscape.$ETH
#BybitSecurity #CryptoWithdrawals #MarketImpact #BybitSecurityBreach ExchangeSafety #BenZhou