Bybit’s CEO confirmed on Feb. 21, 2025, that the platform lost a large portion of its crypto reserves in the attack, which targeted ETH, mETH and stETH holdings. The incident sent Ethereum’s value tumbling, with prices dropping sharply in its wake.

Ether (ETH) plunged to $2,675 immediately after the breach but later rebounded to $2,763. Before the hack was disclosed, ETH had traded at $2,837. Derivatives markets mirrored the chaos: Within one hour, $48 million in ETH-linked positions were liquidated, including more than $25 million from short contracts.

An additional $109 million in ETH derivatives positions evaporated over the next 24 hours. The fallout rippled beyond Ethereum, hitting assets like bitcoin and solana. On HTX’s BTC derivatives platform, a single trader absorbed a $45.8 million loss. Markets now appear to stabilize as investors digest news of the breach.

The breach at Bybit highlights persistent vulnerabilities in centralized exchanges, reviving concerns over custodial risks. Though markets show early signs of stabilization, the spillover into major assets illustrates the crypto sector’s interconnected exposure.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。