Bybit cold wallet hacked - 1.4Billion ETH moved!

[dave_strider]

The point at which the hack could affect the general crypto-currency market is when it get exchanged into fiat but as far as the funds still in the wallet regardless of where it is it will definitely act in advantage of the higher price liquidity against what most people speculated in recent market conditions.

ByBit have replaced the lost funds back to the hotel wallet and everything seems to be normal with the exchange without any customers noticing that a hack ever happened in first place.

They did what they could, but the damage was done regardless.

It's an interesting case, even though it didn't affect the overall sentiment that much (in my opinion). There is lots in the world happening currently that makes investors not run for their money.

[Trongduy]

Bybit's response was very fast and was able to back up funds lost due to hacking. I am sure that Bybit's assets are very numerous because they are able to provide a positive effect to its users, even though hacking had occurred previously.

The fault wasn't with Bybit, but with the service they were using. Bybit rebounded strongly and quickly thanks to their internal strength and the help of the entire community. I really liked how the Bybit CEO interacted with the community during that difficult period.

Now, this event is rarely mentioned. Bybit has returned to normal operations, and few investors are worried that a large amount of ETH will be sold off in the market. As soon as ETH increases in price, everyone will FOMO again.

[tequilla_sunset]

Bybit's response was very fast and was able to back up funds lost due to hacking. I am sure that Bybit's assets are very numerous because they are able to provide a positive effect to its users, even though hacking had occurred previously.

The fault wasn't with Bybit, but with the service they were using. Bybit rebounded strongly and quickly thanks to their internal strength and the help of the entire community. I really liked how the Bybit CEO interacted with the community during that difficult period.

Now, this event is rarely mentioned. Bybit has returned to normal operations, and few investors are worried that a large amount of ETH will be sold off in the market. As soon as ETH increases in price, everyone will FOMO again.

As I saw, they also injected some stuff into the devs device, afterward, they switched parameters and voila, they are able to do anything with the funds.

[yohananaomi]

This news was almost 1 month ago but the effect is still felt now and Bitcoin is having a hard time moving up from $82,000 to its all time high.
In detail, I don't really understand how this hack happened, but I feel like it's all very hard to understand because billions of USD were hacked so easily in the form of Ethereum coins.
It seems like there is a weakness in the ByBit system itself so that hackers are able to steal Ethereum from ByBit's cold wallet, and in essence this is bad news for the crypto market which has caused all crypto prices to plummet, including the price of Bitcoin itself.

~snip~
If the Bybit hack could affect the market, it should have been as immediate as possible and not weeks later besides no matter how low the market goes it is still above the previous all-time.

In conclusion, for now, we may have to be patient with the current market conditions that are slowly falling from the all-time high. We are also confident that the crypto market will rise again to the desired price, which is the all-time high that previously exceeded the price of 109,000 dollars.

Btw, the hacked Ethereum is unlikely to return to ByBit because it has been sent to various wallets and laundered by the hacker.

Information about the Bybit hack clearly greatly affects the current movement. Even though, as Bybit said, it was able to handle everything well. I think this could be to provide peace of mind for investors so that there is no unrest that greatly affects the market later.
It could be that what was hacked cannot be returned, but it could be that there are some that can be repaired because of their internal problems and their internal problems can be resolved properly.

[tequilla_sunset]

Information about the Bybit hack clearly greatly affects the current movement. Even though, as Bybit said, it was able to handle everything well. I think this could be to provide peace of mind for investors so that there is no unrest that greatly affects the market later.
It could be that what was hacked cannot be returned, but it could be that there are some that can be repaired because of their internal problems and their internal problems can be resolved properly.

I don't see it affecting the market overall that much, due to it being resolved quickly and not escaled by any party involved.

We currently see the moves sideways which would eventually be broken - probably by the confidence enabled by some chain of events, where investors would start to pour the liquidity back in. At least that's how I see it.

[yohananaomi]

Information about the Bybit hack clearly greatly affects the current movement. Even though, as Bybit said, it was able to handle everything well. I think this could be to provide peace of mind for investors so that there is no unrest that greatly affects the market later.
It could be that what was hacked cannot be returned, but it could be that there are some that can be repaired because of their internal problems and their internal problems can be resolved properly.

I don't see it affecting the market overall that much, due to it being resolved quickly and not escaled by any party involved.

We currently see the moves sideways which would eventually be broken - probably by the confidence enabled by some chain of events, where investors would start to pour the liquidity back in. At least that's how I see it.

You could say that, and it's true that it has no effect, but I strongly believe that every piece of information has an impact on crypto, and it's hard to avoid, and it's just a matter of time, even if it's said there's no problem with it and no one can really explain it. I think investors are just holding on to the information and there's no ability to do anything while waiting for the next good news.

[Hisbullah]

Information about the Bybit hack clearly greatly affects the current movement. Even though, as Bybit said, it was able to handle everything well. I think this could be to provide peace of mind for investors so that there is no unrest that greatly affects the market later.
It could be that what was hacked cannot be returned, but it could be that there are some that can be repaired because of their internal problems and their internal problems can be resolved properly.

I don't see it affecting the market overall that much, due to it being resolved quickly and not escaled by any party involved.

We currently see the moves sideways which would eventually be broken - probably by the confidence enabled by some chain of events, where investors would start to pour the liquidity back in. At least that's how I see it.

You could say that, and it's true that it has no effect, but I strongly believe that every piece of information has an impact on crypto, and it's hard to avoid, and it's just a matter of time, even if it's said there's no problem with it and no one can really explain it. I think investors are just holding on to the information and there's no ability to do anything while waiting for the next good news.

Every information affects Crypto, moreover bad news is very bad on the Crypto market.
But it only has a short effect because the market will again take its role. And that's what I have been observed.
So a trader is always looking for news that will affect the cypto market because they choose short -term trading.

[Blaze]

Every information affects Crypto, moreover bad news is very bad on the Crypto market.
But it only has a short effect because the market will again take its role. And that's what I have been observed.
So a trader is always looking for news that will affect the cypto market because they choose short -term trading.

It is clearly evident that news has a significant effect on the price of crypto currencies especially in the short-run. Influence usually appears immediately new information, especially negative, which causes panic and then makes decisions instinctively. Nevertheless, it also always happen, and once the fluctuations leave the worst or the best, the market will be able to regain its footing. Such traders will always follow current events so that they can be in a position to grab them opportunities that are related to such a pattern. It is not unusual that they are searching for the kind of information that will give an indication of the likelihood of the next trend in price.

[yohananaomi]

Information about the Bybit hack clearly greatly affects the current movement. Even though, as Bybit said, it was able to handle everything well. I think this could be to provide peace of mind for investors so that there is no unrest that greatly affects the market later.
It could be that what was hacked cannot be returned, but it could be that there are some that can be repaired because of their internal problems and their internal problems can be resolved properly.

I don't see it affecting the market overall that much, due to it being resolved quickly and not escaled by any party involved.

We currently see the moves sideways which would eventually be broken - probably by the confidence enabled by some chain of events, where investors would start to pour the liquidity back in. At least that's how I see it.

You could say that, and it's true that it has no effect, but I strongly believe that every piece of information has an impact on crypto, and it's hard to avoid, and it's just a matter of time, even if it's said there's no problem with it and no one can really explain it. I think investors are just holding on to the information and there's no ability to do anything while waiting for the next good news.

Every information affects Crypto, moreover bad news is very bad on the Crypto market.
But it only has a short effect because the market will again take its role. And that's what I have been observed.
So a trader is always looking for news that will affect the cypto market because they choose short -term trading.

It's hard to avoid any information not to affect crypto both good or bad ones will always have an impact, but the impact is adjusted to the information situation at that time.
But usually, information that is not connected directly with crypto will be easily completed and sinked. Besides, there is indeed a direct relationship that can slow down the situation, but again, everything is usually able to be overcome and will return to normal besides the season is likely to be difficult to change.

[bitterguy28]

I don't see it affecting the market overall that much, due to it being resolved quickly and not escaled by any party involved.

i think it still affected crypto if not in price then in regulations

lots of exchanges may now be under scrutiny from customers and governments alike they are expected to not repeat what has happened to bybit though thankfully it was explained properly how the coins were stolen and bybit was able to cover the lost ones immediately so it did not scare off investors that much but they are still definitely on their toes

[dave_strider]

i think it still affected crypto if not in price then in regulations

lots of exchanges may now be under scrutiny from customers and governments alike they are expected to not repeat what has happened to bybit though thankfully it was explained properly how the coins were stolen and bybit was able to cover the lost ones immediately so it did not scare off investors that much but they are still definitely on their toes

I think big exchanges can still be hacked any day, and it will be resolved in the same manner.

It's always a juicy target to choose, and it will affect the confidence of some people, but only in the short term.

[yohananaomi]

I don't see it affecting the market overall that much, due to it being resolved quickly and not escaled by any party involved.

i think it still affected crypto if not in price then in regulations

lots of exchanges may now be under scrutiny from customers and governments alike they are expected to not repeat what has happened to bybit though thankfully it was explained properly how the coins were stolen and bybit was able to cover the lost ones immediately so it did not scare off investors that much but they are still definitely on their toes

Any news at this time will always affect the movement of crypto, especially with the problem of bybits.
But how much can all of this be suppressed so that it doesn't become wild news and make investors afraid? Although the problem has indeed been suppressed well until now, the fear of it happening again and the protection that is done so that it doesn't happen again really needs to be found a solution so that it doesn't happen again and can be suppressed well.