Bybit Hack Update: Massive ETH Transfers & User Withdrawals Explained

Quick Summary:

While the attack caused panic, it also led to massive fund transfers, with large amounts of BTC, ETH, XRP, and USDT pouring into Bybit.

The major concern is that the hacker now controls over 500,000 ETH, more than ETH Co-Founder vitalik buterin vitalik buterin Vitalik Buterin is a professional programmer and Co-Founder of Ethereum.

In a post on X, he denied any involvement, stating that the funds moving to Bybit were simply user transactions or whale activity, not Binance’s doing.

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Article Details

Author / Journalist: Zameer Attar

Category: Crypto

Markets: United StatesCanadaSingapore

Topics: News Exchange News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-22 @ 12:37:06 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 936 words

Reading Time: 6 minutes read

Sentences: 57 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 26331717

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