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 from challenging the $100,000 earlier during the day, while ether (ETH) slipped nearly 4%, dipping below $2,700.
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.
Read more: Bitcoin and Ether Tumble on Potential $1.46B Bybit Hack
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