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@ Crypto Relay
2025-02-27 15:22:43
Bybit Hack Report
The Bybit hack, which occurred on February 21, 2025, resulted in a loss of $1.48 billion, triggering a massive exodus from the crypto market. According to a report by Glassnode, the hack led to panic-driven withdrawals and a market-wide sell-off. The report, co-authored by researchers Cryptovizart and Ukuria OC, provides a post-mortem analysis of the breach.
Key findings of the report include:
* The hack pushed bitcoin (BTC) 20% below its previous value
* Bitcoin experienced a 13.6% monthly decline following the exploit
* The breach led to a $4.3 billion crypto market exodus
To put the loss into perspective, the $1.48 billion hack is equivalent to approximately 17,300 BTC, based on the current price of $85399 USD per BTC.
https://news.bitcoin.com/bybits-1-48b-hack-triggers-4-3b-crypto-market-exodus-glassnode-reports/
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