Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
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

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

InFocus Launches Digital Ventures Strategy With Mythos Group To Push Into Blockchain, AI And Bitcoin

September 1, 2025

WorldShards Announces Partnership With ByBit And TGE Date

September 1, 2025

EcoSync & CarbonCore Launch Full Stages Refi Infrastructure Linking Carbon Credits With Web3

September 1, 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

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025
Most Popular

Russia bans cryptocurrency mining in occupied Ukraine and Siberia

November 20, 2024

Comprehensive Online Brokerage Review

March 20, 2024

Development Release 36: BlockDAG Pioneers Off-Chain Proof-of-Work with Expected $30 by 2030

May 26, 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.