Market Update

Huge ETH transfers have been explained and users withdrawn

Latter Beit penetration She was shocked by the encryption industry, as attackers steal $ 1.4 billion in digital assets. The breach sparked widespread pan BTC, ETH, XRP and USDT It flowed to bybit. Many saw that this is a sign that investors and platforms were supporting the exchange despite the crisis.

Hacker now holds eth more than Vitalik Buterin

One of the main concerns is that the infiltrator now controls more than 500,000 ETH Vitalik Buterin 240,000 ETH holdings were reported. The stolen assets are spread across 53 wallets, which are closely monitored by security teams. Since this is a high -level attack, selling such a large amount without being arrested will be difficult.

Despite the situation, Ben Zhou CEO of Ben Zhou assured users that customer money has not been lost and that the stock exchange is still financially stable. He also emphasized that bybit has succeeded in treating more than 350,000 withdrawal requests after hacking.

Was Benans involved? CZ closes rumors

Some speculated that Binance has helped bybit to settle by transferring ETHEREUM to the stock exchange. However, the CEO of Binance Changpeng Zhao (CZ) denied this. In a publication on X (previously Twitter), he explained that ETH flows simply user transactions or whale activity, not intervention to help.

He praised the encryption analyst Andy Lyan Binance leadership But his followers advised to withdraw money from bybit, not because of a lack of confidence but as a preventive measure against any unexpected risks.

Meanwhile, the data on the series from Lookonchain showed that the whale pulled 11800 ETH ($ 31 million) from Binance and deposited in a cold bybit wallet. Soon after, 36,000 ETH ($ 96.5 million) moved from the Binance Hot Porter to Bybit. Reports indicate that these may be loans aimed at helping the BYBIT to manage clients withdrawal.

Whale moves shake the market

Despite fears, adult investors and competing exchanges supported with major deposits. Whale Alert reported that an unknown portfolio sent nearly 3000 BTC ($ 285 million) to Bybit, while another converted 39,998 ETH ($ 105.5 million).

Bitget has also contributed to large money, Jun Du, one of the founders of HTX, announced that he would deposit 10,000 ETH to Bybit, and promised not to withdraw it until next month as a sign of support.

The clouds rise with the reaction of the users

While some whales and platforms support bybit, many users remain careful. Arkham Intelligence reported that the Galaxy Digital UTC trading office withdrew 25000 ETH ($ 67 million) and $ 200,000 within hours of the attack. 700 BTC (68.8 million dollars) was also withdrawn by an unknown wallet, which increases the flow of increasing assets.

Bybit still holds billions of dollars – what’s the next?

Even after hacking and clouds, bybit still holds important reserves. Reports indicate that it has 450,462 ETH ($ 1.2 billion), along with BTC, USDT, USDC and MNT, with a total of billions of assets.

Bybit is now focusing on restoring confidence and stabilizing its operations. The market is closely monitoring to find out how the stock market recovers from one of the largest encryption breakthroughs in history.

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