Cryptocurrency platform Bybit has been hacked, resulting in losses exceeding $1.46 billion. CEO Ben Zhou clarified the situation and discussed potential impacts on user funds.
CEO Bybit's Statement
Bybit's CEO, Ben Zhou, reported that the hack affected the company's assets. However, he assured that Bybit is financially strong, with all customer assets backed 1:1, enabling users to recover their losses even if funds cannot be retrieved.
Impact on Cryptocurrency Market
Following the incident, Bitcoin (BTC) dropped to around $97,000, down from its previous level of $100,000. Ethereum (ETH) also lost about 4% of its value, falling below $2,700.
Consequences for Traders
The sudden price drop led to the liquidation of approximately $100 million in leveraged positions, the majority of which were long positions betting on price increases.
The current situation with the Bybit hack has had a significant impact on the cryptocurrency market and investors, although the CEO has assured the protection of user funds.
