The encryption prices fell after the $ 1.5 billion theft from Excination

(Bloomberg) – Bitcoin and Ether prices decreased, while small symbols have witnessed worse, as merchants’ reaction to nearly $ 1.5 billion to BYBIT exchange, which analysts say is the biggest theft of encryption ever.

Bitcoin reflects a previous profit of 1.4 % a day to decline by 2.1 % and trade at about 96.057 dollars at 2:32 pm on Friday in New York. Ether slipped – the distinctive symbol that was stolen in the BYBIT penetration – more than 7 % of the highest level of the day and was trading at about 2650 dollars. The largest cryptocurrency in the ranges where most of this month was traded. The smaller altcoins such as XRP, Solana and Dogecoin have deployed deeper decreases.

“It has caused a breach by a shrinkage in the market,” said Alexis Circukia, Chairman of Yellow Network and co -founder of Market Maker GSR. “As with the last CEX failure, panic and liquidity sale followed, and exposed the continuous risks of the central custody,” added, using a “CEX” shortcut to central exchanges such as bybit.

Coinbase Global Inc. shares declined. It is the largest encryption exchange in the United States, more than 5 % after the gathering earlier when the company announced that the US Securities and Stock Exchange Committee is ready to drop its case for years against the company.

Bitcoin and other major symbols have been traded in a narrow range in recent weeks with sphincter fluctuations for short -term Bitcoin contracts that have decreased to the lowest level since June. The sudden decrease in digital assets earlier this month led to a wave of upright references, with the ether decreased by 26 % on February 2.

BYBIT Ben Chu CEO confirmed control of an ETHEREUM governor on the stock exchange. While the full effect of penetration is still unclear, there is already a large amount of stolen encryption assets. Arkham Intelligence said that the money stolen from the stock exchange “began to move to new addresses where they are sold.”

The penetration is the largest encryption theft ever, according to Blockchain Analytics Elliptic, exceeding 611 million dollars stolen from the Poly network in 2021.

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