Ether Price Rises 2.3% as Bybit Moves to Purchase 36,900 ETH
The price of ether (ETH) has increased by 2.3% in the last 24 hours, outperforming the CoinDesk 20 Index, which rose by 0.76%. Bitcoin decreased by 0.3%.
Key developments include:
- Bybit, a cryptocurrency exchange previously hacked for $1.5 billion worth of ether, has transferred 100 million USDT to new addresses, purchasing 36,900 ETH over-the-counter.
- The funds, valued at approximately $101 million, were moved to addresses identified as belonging to Bybit.
- Bybit’s CEO stated that the company’s assets exceed $1.5 billion and mentioned a cold wallet holding nearly $3 billion in USDT.
- The hacker now holds about 489,000 ETH, worth around $1.34 billion, making them the 14th-largest holder of ether.
- Hacker's addresses are monitored and blacklisted by major exchanges.
- Stolen funds are marked, complicating their use; any transfer attempts to major exchanges would be blocked.
- Some analysts suggest the hacker's holdings represent “essentially gone” supply due to restrictions on usage.