Today, the crypto world got another reminder of this golden rule: during Bybit's migration, a hacker managed to replace an address and gain control of one of the wallets. Panic? Maybe. But all other funds are secure.
Whatβs next?
- The hack already happened, and if the hacker decides to dump the ETH, most of it will likely just get absorbed by the market.
- A portion (or all) of the funds will likely be recovered in the coming days/weeks. This is a huge amount, fully visible on-chain, and there's no easy way to escape with it.
- Offramping this money is nearly impossible. Major CEXs, OTC desks, and stablecoin issuers will blacklist the addresses.
- Even if they try mixers or laundering schemes β good luck moving that size without getting caught.
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By a twist of fate, this hack might be the most bullish event to happen to ETH in recent years.
Bybit now has to buy back $1.4B worth of ETH to refill its cold wallets. Thatβs some serious buy pressure. Official statement.
The fact that nothing catastrophic happened is evident in BTCβs reaction: only -2% in the moment β despite all the FUD. In 2022, the market crashed way harder after FTX collapsed. Plus, buyers have already stepped in, proving that markets are stabilizing fast.
Realistically, $1.5B is not a death sentence for the 2nd largest exchange in the world. No one would let Bybit sink, and if things got really bad, the whole industry would bail them out.
Panic is the worst reaction to situations like this.
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Not a trader ENG
πΈ I didnβt withdraw anything from Bybit.
Was actually chill about it.
Study the physiognomy of Chad Ben, and maybe youβll understand why.
GM βοΈ
Was actually chill about it.
Study the physiognomy of Chad Ben, and maybe youβll understand why.
GM βοΈ
β€22π9π7β€βπ₯5π1
Not a trader ENG
The Bybit hack has been exposed
And Park Jin Hyok might be behind it.
This is the story behind the biggest crypto heist everπ§΅
(check comments)
And Park Jin Hyok might be behind it.
This is the story behind the biggest crypto heist everπ§΅
(check comments)
π35π€―14β€βπ₯8β€5π₯5π€3π₯°1
Yesterday, the biggest crypto hack in history happened π²
Today, crypto is green on the week.
The market showed strength despite the largest theft of all time.
My takeaway: if I looked at the daily chart without context, I wouldnβt have even guessed that something major had happened β just a standard bounce from mid-range.
And usuallyβ¦
- Good news marks the tops.
- Bad news marks the bottoms.
Letβs see how this agesπ
Today, crypto is green on the week.
The market showed strength despite the largest theft of all time.
My takeaway: if I looked at the daily chart without context, I wouldnβt have even guessed that something major had happened β just a standard bounce from mid-range.
And usuallyβ¦
- Good news marks the tops.
- Bad news marks the bottoms.
Letβs see how this ages
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Itβs safer to let the knife fall on the floor then pick it upβ¦.
π―44π20β€7β€βπ₯7π₯1
Once again, unusual transfers are being spotted β 650M USDT moved to unknown wallets
If this is indeed part of the hack, Bybit's total losses are now at $2B.
Someone just secured themselves the most expensive weekend in history.
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Hereβs what I like:
- Bitfinex has accumulated a record number of ETH longsβATH for the entire cycle.
- They've also started accumulating BTC longs.
Historically, these moments always led to growth. Not immediately, of courseβvolume needs to be built up, but after such longs, prices were always significantly higher.
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Right now sitting at $76.2K.
Eyes on it
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β€20π₯6π5π³3π2β€βπ₯1
Saylor still holds $40B in BTC
BlackRock still holds $50B in BTC & ETH
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π₯24β€9β€βπ₯3π³3π2π’2π1π1π1
The official @sticker_community X (Twitter) announced minting and trading stickers. A minute later, the post was mysteriously deleted (marketing trick or what?), but the internet never forgets.
As a distinguished sticker investor, Iβm open to offers for these digital masterpieces.
- Not Cap β $5000 per piece. A cultural treasure.
- Penguins β $2000. Timeless classic.
- Apes β $1000. Canβt go lower than this, guys.
If youβre ready to pay for pixels, hit me up. Stickers are like gold, but way more fun.
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π₯10π8β€βπ₯6β€5π3π3π€2π₯°1πΎ1
TonTrader β simple and hassle-free trading, no complicated interfaces. Just open the bot, tap a few buttons β and you're in the market.
Compete in tournaments, earn rewards for activity, and catch the momentum β listing ahead.
Got a balance in Blum? Take a screenshot and get the same amount of DOLLR in TonTrader. Max 50,000 DOLLR per account. Offer valid until the end of the week β donβt sleep on it.
Click here before itβs too late.
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π9β€βπ₯5β€4π₯2π2
$ETH April 2021 β $2.2k
$ETH May 2021 β $2.2k
$ETH June 2021 β $2.2k
$ETH July 2021 β $2.2k
$ETH Jan 2022 β $2.2k
$ETH May 2022 β $2.2k
$ETH Dec 2023 β $2.2k
$ETH Jan 2024 β $2.2k
$ETH Aug 2024 β $2.2k
$ETH Sep 2024 β $2.2k
$ETH Feb 2025 β $2.2k
$ETH Mar 2025 β $2.2k
If ETH were a person, it would still be wearing the same t-shirt since 2021
$ETH May 2021 β $2.2k
$ETH June 2021 β $2.2k
$ETH July 2021 β $2.2k
$ETH Jan 2022 β $2.2k
$ETH May 2022 β $2.2k
$ETH Dec 2023 β $2.2k
$ETH Jan 2024 β $2.2k
$ETH Aug 2024 β $2.2k
$ETH Sep 2024 β $2.2k
$ETH Feb 2025 β $2.2k
$ETH Mar 2025 β $2.2k
If ETH were a person, it would still be wearing the same t-shirt since 2021
1π47π34β€14π€6π₯1π₯°1π1