BTC
$98,277.93
+
0.39%
ETH
$2,733.60
–
0.22%
XRP
$2.6264
–
3.21%
USDT
$1.0002
+
0.01%
BNB
$659.95
+
1.28%
SOL
$174.23
+
0.58%
USDC
$0.9999
+
0.01%
DOGE
$0.2534
+
0.04%
ADA
$0.8059
+
0.60%
TRX
$0.2446
+
0.50%
WBTC
$97,916.68
+
0.28%
LINK
$18.41
+
1.60%
SUI
$3.4411
+
4.02%
AVAX
$25.53
+
3.74%
XLM
$0.3376
–
3.08%
LTC
$134.21
+
5.34%
SHIB
$0.0₄1567
+
1.27%
HBAR
$0.2203
+
0.47%
TON
$3.6406
+
0.87%
LEO
$9.7089
–
0.19%
By Krisztian Sandor|Edited by Aoyon Ashraf
Updated Feb 21, 2025, 4:08 p.m. UTCPublished Feb 21, 2025, 3:51 p.m. UTC
What to know:
- Crypto prices dropped on Friday on crypto exchange Bybit enduring a security incident.
- Bitcoin (BTC) slid to near $97,000, while ether (ETH) slipped nearly 4%, dipping below $2,700.
- Bybit saw a $1.4 billion ETH outflow in a hacker attack, Bybit CEO later confirmed.
Cryptocurrency prices dropped on Friday, reversing early gains on reports that crypto exchange Bybit was seeing $1.4 billion worth of crypto outflows in a potential security incident.
Bitcoin (BTC) slid to near $97,000 after hovering near $100,000 earlier during the day, while ether (ETH) slipped nearly 4%, dipping below $2,700.
The sudden downturn liquidated roughly $100 million worth of leveraged derivatives trading positions, overwhelmingly longs anticipating prices to rise, CoinGlass data shows.
STORY CONTINUES BELOW
The move happened after well-followed blockchain sleuth ZachXBT noted a “suspicious” $1.4 billion ETH outflow. Ben Zhou, CEO of Bybit confirmed the hack in an X post.
UPDATE (Feb. 21, 16:07 UTC): Adds details about liquidation and updates price actions.
Read more: Bitcoin and Ether Tumble on Potential $1.46B Bybit Hack
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University’s business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
