Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»BYBIT causes confusion in encryption market in the face of $ 1.48B hacking.
ADOPTION NEWS

BYBIT causes confusion in encryption market in the face of $ 1.48B hacking.

By Crypto FlexsFebruary 28, 20253 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
BYBIT causes confusion in encryption market in the face of $ 1.48B hacking.
Share
Facebook Twitter LinkedIn Pinterest Email

Felix Pinkston
February 26, 2025 11:21

According to GlassNode, BYBIT’s large $ 14 billion hacking caused the sale of panic withdrawal and the entire market, which greatly affected Bitcoin and Etherrium prices.





According to GlassNode, BYBIT has experienced historical hacking, including $ 14.8 billion in digital assets, including 403,996 ETH in the Cryptocurrency market. The incident, which occurred on February 21, 2025, has drastically lowered the prices of Bitcoin (BTC) and Ethere due to a wide range of panic withdrawal and significant market selling.

Violation of large -scale security

This violation was executed through the cold wallet of the Smart Contract Exploit Targeting bybit, causing unauthorized fund transfer. Hacking not only affects Etherrium, but also affected other assets, such as Steth, Meth and CMETH. Bybit CEO Ben Zhou explained that a deceptive interface called “MusKed UI” was used to deceive the cause of death.

Market impact and exchange leakage

BYBIT HACK has significantly influenced market sentiment, and Bitcoin’s monthly performance has decreased 13.6%, while Ethereum and Solana decreased 22.9% and 40%, respectively. MEME Coin Index also decreased by 36.9%due to serious stagnation. This selling has worsened with the withdrawal of panic, which experiences a significant leak of BITCOIN, TETHER and other assets.

By February 24, 2025, Exchange’s Bitcoin reserves fell from 70,604 BTC to 49,356 BTC from 49,356 BTC, with net leaks 21,248 BTC. Similarly, tethers has declined $ 17.6 billion. This figure emphasizes the liquidity problem faced by BYBIT after hacking.

Recovery and stabilization effort

In response to the crisis, BYBIT has been actively working to supplement Etherrium reserves and has received a total of $ 1.55 billion. These efforts included strategic acquisitions and transfer of institutional liquidity providers. Despite these measures, as proved by continuous leakage and price drops, investors’ trust remains weak.

Short -term holders who are under pressure

The hacking shows that the value (STH-MVRV) ratio, in which the short-term holder market value is realized to 0.95, has a significant pressure on the short-term holders, indicating that the recent cost is 5%. This situation reflects significant losses and market stress.

The spending output profit ratio (STH-SOP) is also lower than the quarterly average, suggesting that many buyers are selling due to losses. Historically, these contractions in SOPR have led to a temporary stabilization of market, but the lack of current demand movement can extend the decline.

BYBIT HACK plays a role in completely informing the vulnerability in the Crypto ecosystem and emphasizes urgent demands for enhanced security measures and investor protection. As the market sails these turbulence, it is important for the next few weeks to decide whether or not to recover or further reduction.

Image Source: Shutter Stock


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Algorand (Algo) Get momentum in the launch and technical growth.

July 14, 2025

It flashes again in July

July 6, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Add A Comment

Comments are closed.

Recent Posts

Monarq Asset Management Appoints Sam Gaer As CIO To Lead Directional Strategy

July 21, 2025

Little PEPE surpasses $ 4 million in pre -sales, emerging as one of the main memes in 2025.

July 21, 2025

Bitcoin Price $ 123K Explosion -Trader Brace for Brake Out

July 20, 2025

Ether Lee Rium breaks $ 3K with 7,200% of the virus L2 coin eyes.

July 20, 2025

XRP Breaks Through $3.5! DL Mining Launches AI Cloud Mining Contracts, Earning Steady Profits Every Day

July 20, 2025

AAVE gains strength as AAVE dominates defect loans with net deposits of $ 50B or more.

July 19, 2025

As XRP Surges, DLMining Platform Opens New High-yield Cloud Mining Opportunities For Holders

July 19, 2025

Missed Out On Bitcoin At $9999? SIM Mining Cloud Mining Brings You New Opportunities For Wealth!

July 19, 2025

NFT is a rebound -there is a teenage NFTS this week.

July 19, 2025

MultiBank Group To List $MBG Token On Gate.io And MEXC During Official Token Generation Event

July 18, 2025

Earn $4,777 Daily! PaxMining Leads 2025’s Record-Breaking Bitcoin Mining Boom

July 18, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Monarq Asset Management Appoints Sam Gaer As CIO To Lead Directional Strategy

July 21, 2025

Little PEPE surpasses $ 4 million in pre -sales, emerging as one of the main memes in 2025.

July 21, 2025

Bitcoin Price $ 123K Explosion -Trader Brace for Brake Out

July 20, 2025
Most Popular

Ether Leeum Chart Pattern is the highest price -trader when supporting the ‘moon shot’ rally –

May 12, 2025

A Beginner’s Guide to Socrates: How ‘Cultural Combinations’ Can Reward Debate

December 25, 2023

Ethereum developers explore EIP 7742 and Pectra upgrades in ACDC Call #144.

October 18, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.