Bitcoin and Ether Prices Drop Amid $1.4 Billion Bybit Hack Report
Cryptocurrency prices declined on Friday, reversing earlier gains due to reports of $1.4 billion in crypto outflows from exchange Bybit amid a potential security incident.
- Bitcoin fell to nearly $97,000 after reaching around $100,000.
- Ether dropped nearly 4%, falling below $2,700.
- The downturn led to liquidations of approximately $100 million in leveraged derivatives positions, primarily long positions.
- ZachXBT identified a "suspicious" $1.4 billion ETH outflow.
- Bybit CEO Ben Zhou confirmed the hack via social media.
For further details, refer to the full article on CoinDesk.