{"id":14359,"date":"2025-02-21T15:46:50","date_gmt":"2025-02-21T15:46:50","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14359"},"modified":"2025-02-21T15:46:50","modified_gmt":"2025-02-21T15:46:50","slug":"bitcoin-price-crashes-on-reports-of-alleged-1-5b-bybit-security-incident","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14359","title":{"rendered":"Bitcoin Price Crashes on Reports of Alleged $1.5B Bybit Security Incident"},"content":{"rendered":"<div>\n<p>Several reports emerged in the past minutes that one of the world\u2019s leading crypto exchanges, Bybit, was compromised for roughly $1.5 billion in digital assets.<\/p>\n<p>Although the news is yet to be officially confirmed, the panic spread rapidly, causing an immediate price crash for BTC and most altcoins.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Seems that <a href=\"https:\/\/twitter.com\/Bybit_Official?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">@Bybit_Official<\/a> hot wallet just got hacked.<\/p>\n<p>Though, it\u2019s a multi-sign $1.5B worth of <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$ETH<\/a> was withdrawn to the new address and is currently being sold<\/p>\n<p>More info below <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/72x72\/2b07.png\" alt=\"\u2b07\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <a href=\"https:\/\/t.co\/Xa3GHGDkvu\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/Xa3GHGDkvu<\/a> <a href=\"https:\/\/t.co\/GEYYUicl26\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/GEYYUicl26<\/a><\/p>\n<p>\u2014 Finish (@0xFinish) <a href=\"https:\/\/twitter.com\/0xFinish\/status\/1892956350247850029?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">February 21, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The first suspicion came after Whale Alert reported a massive transfer from Bybit to an unknown wallet for over 400,000 ETH (worth more than $1.1 billion). After a few more transfers to the same wallet, in total worth around $1.5 billion, mostly in ETH, the receiver started to swap the assets to stETH and mETH, <a href=\"https:\/\/x.com\/0xFinish\/status\/1892956662098514059\" data-wpel-link=\"external\" target=\"_blank\">according<\/a> to Finish.<\/p>\n<p>The most well-known crypto on-chain sleuth, ZachXBT, also highlighted the development on his Telegram account, indicating that his sources had confirmed \u2018it\u2019s a security incident.\u2019<\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-21-174245.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-384424\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-21-174245.jpg\" alt=\"\" width=\"421\" height=\"107\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-21-174245.jpg 421w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-21-174245-300x76.jpg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/Screenshot-2025-02-21-174245-50x13.jpg 50w\" sizes=\"auto, (max-width: 421px) 100vw, 421px\"><\/a><\/p>\n<p>As of press time, Bybit has not addressed the issue. However, the damage has already been done to the crypto market as prices headed south immediately after the reports went live.<\/p>\n<p>Bitcoin\u2019s price had approached $100,000 after a steady increase over the past few days but crashed immediately by more than two grand. Most altcoins suffered even more painful declines, and the total crypto market cap dropped by $70 billion in less than half an hour.<\/p>\n<figure id=\"attachment_384425\" aria-describedby=\"caption-attachment-384425\" style=\"width: 1835px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-384425\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20.png\" alt=\"BTCUSD. Source: TradingView\" width=\"1835\" height=\"827\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20.png 1835w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20-300x135.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20-1024x461.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20-768x346.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20-1536x692.png 1536w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-20-50x23.png 50w\" sizes=\"auto, (max-width: 1835px) 100vw, 1835px\"><\/a><figcaption id=\"caption-attachment-384425\" class=\"wp-caption-text\">BTCUSD. Source: TradingView<\/figcaption><\/figure>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/bitcoin-price-crashes-on-reports-of-alleged-1-5b-bybit-security-incident\/\" rel=\"nofollow\">Bitcoin Price Crashes on Reports of Alleged $1.5B Bybit Security Incident<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Several reports emerged in the past minutes that one of the world\u2019s leading crypto exchanges, Bybit, was compromised for roughly $1.5 billion in digital assets. Although the news is yet to be officially confirmed, the panic spread rapidly, causing an immediate price crash for BTC and most altcoins. Seems that @Bybit_Official hot wallet just got [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14359","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14359"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14359\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}