Oh, gather ’round, dear friends, for a tale of woe and wonder in the wacky world of cryptocurrency! It seems that our beloved BTC has taken a nosedive, plummeting faster than a goose on roller skates—over four thousand dollars since its peak! Can you believe it? 💸
And what’s this? The altcoins are joining the party, too! With liquidations soaring higher than a kite in a hurricane, we’re talking a staggering $600 million disappearing into the ether—poof! Just like that! 🎈
Now, let’s rewind to the drama of the day. Reports of suspicious transfers from Bybit’s hot wallets had everyone gasping like fish out of water. The CEO, Ben Zhou, confirmed it was indeed a hack—oh, the horror! A whopping $1.4 billion in ETH vanished like a magician’s rabbit! 🐇✨
“It appears Bybit’s ETH multisig cold wallet was compromised through a sneaky little trick that had the signers approving a dastardly smart contract without even realizing it!” – chirped the clever folks at Cyvers.
In a cheeky little chat with CryptoPotato, Cyvers revealed that the villain had planted a malicious contract two days prior, like a sneaky spider spinning its web. When the unsuspecting signers tried to make honest transactions, the malware swooped in like a hungry hawk, sending a nasty payload to their hardware wallets. And guess what? Bybit’s team signed it without a clue! Talk about blind signing—more like blindfolded signing! 🎭
Once the dastardly deed was done, the hacker took control of the wallet, leaving everyone else in a tizzy. The hack, now dubbed the largest in crypto history, sent shockwaves through the market. BTC, which was strutting toward $100,000 like a peacock, was suddenly shoved back down to $95,000—losing over $4,000 in the process! Ouch! 😱
And the altcoins? Oh dear, they took an even bigger hit! XRP, DOGE, and ADA all tumbled down by over 6% in just 24 hours. It’s like watching a bunch of clowns trip over their own feet! 🤡
Liquidations have skyrocketed to more than $600 million, with the biggest single order wrecked on HTC, worth a jaw-dropping $45.8 million. That’s enough to make anyone’s head spin! 🎢
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2025-02-21 23:53