The Ripple-associated cryptocurrency has seen a 54.05% spike in procuring and selling volume, reaching $5.76 billion, in step with CoinMarketCap.
XRP derivatives procuring and selling volume noticed a 51% amplify to nearly $8 billion. The cryptocurrency suffered $11 million outflows, in step with recordsdata equipped by CoinGlass.
At press time, XRP is traded at $2.57, having declined 3.38% in the final 24 hours. The loss is aligned with total market sentiment amid the Bybit hack, which Bybit CEO referred to as “the greatest in history.”
Recent recordsdata from blockchain analytics company Santiment signifies that orderly XRP holders, continuously referred to as “whales,” were actively amassing the cryptocurrency. Specifically, wallets holding between 10 million to 100 million XRP have critically elevated their holdings, suggesting a bullish sentiment among high-rep-price holders.
🚨 🚨 🚨 🚨 🚨 40,000,000 #XRP (102,602,454 USD) transferred from unknown pockets to #Bybithttps://t.co/EYSvqdYAbr
— Whale Alert (@whale_alert) February 21, 2025
Within the intervening time, in step with Whale Alert, over $100 million in XRP were transferred to Bybit from an unknown pockets.
Bybit sufferers greatest crypto hack in history
Bybit has reportedly suffered a vital security breach, main to the inability of roughly $1.4 billion price of Ethereum (ETH) and other tokens.
Following the attack, around $200 million price of stETH modified into exchanged for ETH on the start market, raising further issues over the dimensions and impact of the exploit.
Blockchain intelligence company Arkham Intelligence has attributed the attack to the North Korean hacker community Lazarus. In an investigative characterize, crypto analyst ZackXBT equipped compelling proof linking Lazarus to the hack.
BREAKING: BYBIT $1 BILLION HACK BOUNTY SOLVED BY ZACHXBT
At 19:09 UTC right this moment, @zachxbt submitted definitive proof that this attack on Bybit modified into conducted by the LAZARUS GROUP.
His submission integrated an intensive evaluation of test transactions and connected wallets outmoded sooner than… https://t.co/O43qD2CM2U pic.twitter.com/jtQPtXl0C5
— Arkham (@arkham) February 21, 2025
His findings, shared at 7:09 p.m. UTC on Friday, integrated an intensive evaluation of test transactions, associated wallets, forensic graphs and timing patterns that printed how the exploit modified into done. Arkham Intelligence confirmed that this proof had been forwarded to Bybit’s group to inspire of their investigation.
Bybit CEO Ben Zhou replied to the disaster by assuring users that withdrawal companies and products had totally resumed.
“Twelve hours from the worst hack in history, all withdrawals were processed. Our withdrawal device is now totally abet to same previous tempo—you would possibly withdraw any quantity and abilities no delays. Thanks to your patience, and we’re sorry that this has took space,” Zhou acknowledged.
Highlighting the dimensions of the attack and its impact on particular person job, Zhou printed that Bybit had processed an unheard of selection of withdrawals for the reason that breach, with over 350,000 withdrawal requests handled within hours.
“Since the hack 10 hours in the past, Bybit has experienced basically the most withdrawals we have ever seen. Up to now, around 2,100 withdrawal requests remain to be processed. Overall, Ninety 9.994% of withdrawals were achieved,” he reported.
Despite the severity of the attack, Zhou emphasized that every Bybit capabilities and companies and products remained operational. He praised his group’s swift response and dedication one day of the disaster.
