Bybit Hacker Becomes 14th-Largest Ether Holder with 489,000 ETH
The Bybit hacker, believed to be linked to North Korea, has become one of the largest holders of ETH, possessing 489,000 ETH valued at approximately $1.34 billion. This amount represents about 0.4% of the total ether supply, positioning the hacker as the 14th-largest holder, surpassing the Ethereum Foundation and Fidelity.
Key points:
- The hacked ether is likely lost permanently due to monitoring and blacklisting by exchanges.
- Bybit has secured a bridged loan to cover nearly 80% of the lost ether but will need to purchase additional coins in the market.
- Currently, Bybit is short 402,000 ETH.
- Ether's price increased by 2.6%, rising to $2,730 from a low of $2,614.
- Funding rates for perpetual futures tied to ether remain positive, indicating a preference for long positions.