Bitcoin (BTC), Ether (ETH) Slump as Crypto Prices Crumble on Report of Massive $1.4B Bybit Security Incident

Cryptocurrency prices dropped on Friday, reversing early gains on reports that crypto exchange Bybit was seeing $1.4 billion worth of crypto outflows in a potential security incident.Bitcoin (BTC) slid to near $97,000 after hovering near $100,000 earlier during the day, while ether (ETH) slipped nearly 4%, dipping below $2,700.The sudden downturn liquidated roughly $100 million worth of leveraged derivatives trading positions, overwhelmingly longs anticipating prices to rise, CoinGlass data shows.Crypto liquidations in an hour (CoinGlass) The move happened after well-followed blockchain sleuth ZachXBT noted a "suspicious" $1.4 billion ETH outflow. Ben Zhou, CEO of Bybit confirmed the hack in an X post.UPDATE (Feb. 21, 16:07 UTC): Adds details about liquidation and updates price actions.Read more: Bitcoin and Ether Tumble on Potential $1.46B Bybit Hackself.__next_f.push([1,"5.37 23.9901 115.38 25.0201V25.1501C115.04 24.9601 114.32 24.67 113.43 24.67C111.64 24.67 109.83 25.65 109.83 27.48C109.83 29.15 111.29 30.23 112.93 30.23C114.18 30.23 114.88 29.67 115.31 29.01H115.37V29.98H117.17V25.19C117.17 22.97 115.51 21.73 113.37 21.73H113.39ZM113.16 28.5801C112.55 28.5801 111.7 28.2701 111.7 27.5201C111.7 26.5601 112.76 26.19 113.68 26.19C114.5 26.19 114.89 26.3701 115.38 26.6101C115.24 27.7701 114.24 28.59 113.16 28.59V28.5801ZM123.74 22L121.6 27.42H121.54L119.32 22H117.31L120.64 29.5801L118.74 33.7901H120.69L125.82 22H123.75H123.74ZM106.94 30H108.81V17.5H106.94V30Z5:[\"$\",\"html\",null,{\"suppressHydrationWarning\":true,\"lang\":\"en\",\"children\":[[\"$\",\"head\",\"head\",{\"children\":[[\"$\",\"link\",null,{\"rel\":\"manifest\",\"href\":\"/manifest.webmanifest\"}],[\"$\",\"$Le\",null,{\"id\":\"gtm-script\",\"data-cookieconsent\":\"ignore\",\"strategy\":\"beforeInteractive\",\"dangerouslySetInnerHTML\":{\"__html\":\"$f\"}}],[\"$\",\"$L10\",null,{}],[[\"$\",\"$Le\",null,{\"data-cookieconsent\":\"ignore\",\"id\":\"freestar-init\",\"children\":\"\\n\\t\\t\\t\\t\\t\\t\\t\\t\\twindow.freestar = window.freestar || {};\\n\\t\\t\\t\\t\\t\\t\\t\\t\\twindow.freestar.queue = window.freestar.queue || [];\\n\\t\\t\\t\\t\\t\\t\\t\\t\\twindow.freestar.config = window.freestar.config || {};\\n\\t\\t\\t\\t\\t\\t\\t\\t\"}],\"$undefined\",[\"$\",\"$Le\",null,{\"async\":true,\"id\":\"freestar-pubfig\",\"src\":\"https://a.pub.network/coindesk/pubfig.min.js\",\"strategy\":\"lazyOnload\"}]],[\"$\",\"$Le\",null,{\"id\":\"cookie-consent\",\"data-cookieconsent\":\"ignore\",\"dangerouslySetInnerHTML\":{\"__html\":\"APP_ENV = \\\"production\\\";\"}}],[\"$\",\"$Le\",null,{\"id\":\"JWPlayer\",\"src\":\"https://cdn.jwplayer.com/libraries/6amZaWBZ.js\",\"type\":\"text/javascript\"}],[\"$\",\"$Le\",null,{\"id\":\"Cookiebot\",\"src\":\"https://consent.cookiebot.com/uc.js\",\"data-cbid\":\"0eadae03-33f1-4a15-97c4-7f82433a6838\",\"data-framework\":\"TCFv2.2\",\"type\":\"text/javascript\"}],[\"$\",\"$Le\",null,{\"id\":\"cookie-consent-fix\",\"type\":\"text/javascript\",\"dangerouslySetInnerHTML\":{\"__html\":\"\\n\\t\\t\\t\\t\\t\\t\\tsetTimeout(() =\u003e {\\n\\t\\t\\t\\t\\t\\t\\t\\tif (typeof Cookiebot !== \\\"undefined\\\" \u0026\u0026 Cookiebot.regulationRegions?.gdpr) {\\n\\t\\t\\t\\t\\t\\t\\t\\t\\tCookiebot.regulationRegions.gdpr.push(\\\"ch\\\");\\n\\t\\t\\t\\t\\t\\t\\t\\t} else {\\n\\t\\t\\t\\t\\t\\t\\t\\t}\\n\\t\\t\\t\\t\\t\\t\\t}, 100); // 100ms delay\\n\\t\\t\\t\\t\\t\\t\"}}],[\"$\",\"$Le\",null,{\"id\":\"google-recaptcha-v3\",\"src\":\"https://www.google.com/recaptcha/api.js?render=6LdD_vElAAAAAC4MH8sVjuaAFGSN1fmOs8QJv8jW\",\"defer\":true,\"async\":true}],[\"$\",\"$L11\",null,{}],false,[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://www.google-analytics.com\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://consent.cookiebot.com\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://consentcdn.cookiebot.com\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://cdn.sanity.io\"}],[[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://securepubads.g.doubleclick.net\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://adservice.google.com\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://a.pub.network/\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://b.pub.network/\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://c.pub.network/\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://d.pub.network/\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://c.amazon-adsystem.com\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://s.amazon-adsystem.com\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://btloader.com/\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://api.btloader.com/\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://confiant-integrations.global.ssl.fastly.net\",\"crossOrigin\":\"anonymous\"}],[\"$\",\"link\",null,{\"rel\":\"preload\",\"href\":\"https://a.pub.network/coindesk/pubfig.min.js\",\"as\":\"script\"}],[\"$\",\"link\",null,{\"rel\":\"stylesheet\",\"href\":\"https://a.pub.network/coindesk/cls.css\"}]],[\"$\",\"link\",null,{\"rel\":\"preconnect\",\"href\":\"https://connect.facebook.net\"}],[\"$\",\"link\","]) Source link