In a context already stretched by the recent record housing of Bybit, Binance, the largest crypto exchange in the world, makes massive sales of Ethereum (ETH). These movements arise as the Crypto ecosystem faces a series of worrying events, including suspicious transfers totaling $ 49.5 million.
Timing worrying for the Ethereum market
In recent hours, Binance, the world leader in cryptocurrency exchange platforms, has initiated significant sales of Ethereum. This decision comes in a context already weakened by the recent piracy of Bybit, which lost $ 1.46 billion in Ether and other tokens ERC-20.
Following this attack, the ETH price experienced a strong volatility: who left 2,850 dollars last Friday, he dived at $ 2,620 before regaining a balance relating to $ 2,723.
At the same time, Certik Alert has reported A particularly worrying transfer: 49.5 million dollars have been moved from an unaccompanied Ethereum contract. Even more worrying, these funds were immediately converted into Stablecoin Dai, a strategy typically used to hide the origin of cryptographic assets.
The chain of these events, the massive sales of Binance, the hacking of Bybit by the Lazarus group, and this new suspicious transfer, raises serious questions about their possible connections.
A quick response from the sector to threats
Bybit's reaction to this major crisis shows exemplary management. In less than 72 hours, the platform managed to fill the entire deficit of $ 1.4 billion in Ether.
Ben Zhou, CEO of Bybit, A announcement The complete reservations of reserves with a ratio of 1: 1, a feat made despite massive withdrawals reaching 6.1 billion dollars. To achieve this, Exchange acquired 446,870 ETH via strategic partnerships with major players in the sector, including Galaxy Digital, Falconx and Wintermute.
The platform has also set up a $ 140 million bonuse program to obtain information about this unprecedented cyber attack. Safe, the decentralized guard protocol used by Bybit, temporarily suspended its intelligent wallet features to strengthen the safety of the system.
Despite a significant drop in assets under management, from 16.9 to 10.8 billion dollars, Bybit has demonstrated its financial and operational solidity. This effective crisis management establishes a new standard in the crypto industry, proving that a rapid and transparent response remains possible in the face of the most sophisticated cyber attacks. The Exchange maintains its efforts to identify the hackers and recover the stolen funds.
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