Crypto Chaos: XRP Soars While Bybit Faces Epic Hack!

It appears that the Ripple-associated cryptocurrency, that cheeky little rascal known as XRP, has decided to throw a party, with a staggering 54.05% spike in trading volume, reaching a rather impressive $5.76 billion, according to the ever-reliable CoinMarketCap. One can only imagine the confetti flying around in the XRP headquarters! 🎉

Meanwhile, XRP derivatives trading volume has also joined the festivities, boasting a 51% increase to nearly $8 billion. However, not all is rosy in the garden of digital currencies, as the cryptocurrency has suffered a rather unfortunate $11 million outflow, as reported by the ever-watchful data hawks at CoinGlass. Talk about a party crasher! 🥳

As of the latest gossip, XRP is trading at $2.57, having taken a slight tumble of 3.38% in the last 24 hours. This little dip seems to be in line with the general market sentiment, which has been rather gloomy, especially in light of the Bybit hack that the CEO has dubbed “the biggest in history.” One can only hope they have a good security system in place! 😬

In a twist worthy of a detective novel, recent data from the blockchain sleuths at Santiment reveals that the big fish in the XRP pond, affectionately known as “whales,” have been on a shopping spree, actively accumulating the cryptocurrency. Wallets holding between 10 million to 100 million XRP have significantly increased their holdings, suggesting a bullish sentiment among the high-net-worth crowd. Perhaps they know something we don’t? 🐋

Meanwhile, in a plot twist that would make even Agatha Christie raise an eyebrow, Whale Alert has reported that over $100 million in XRP were transferred to Bybit from an unknown wallet. One can only wonder who the mysterious benefactor might be! 🕵️‍♂️

Bybit Suffers the Biggest Crypto Hack in History

In a turn of events that has left many clutching their pearls, Bybit has reportedly suffered a significant security breach, resulting in the loss of approximately $1.4 billion worth of Ethereum (ETH) and other tokens. One can only imagine the frantic phone calls and the amount of tea consumed in the aftermath! ☕️

Following this dastardly attack, around $200 million worth of stETH was exchanged for ETH on the open market, raising further concerns over the scale and impact of the exploit. It’s enough to make one’s head spin! 🤯

Blockchain intelligence firm Arkham Intelligence has pointed the finger at the notorious North Korean hacker group Lazarus. In an investigative report that would make Sherlock Holmes proud, crypto analyst ZackXBT provided compelling evidence linking Lazarus to the hack. Elementary, my dear Watson! 🔍

ZackXBT’s findings, shared at 7:09 p.m. UTC on Friday, included an extensive analysis of test transactions, associated wallets, forensic graphs, and timing patterns that revealed how the exploit was executed. Arkham Intelligence confirmed that this evidence had been forwarded to Bybit’s team to assist in their investigation. A veritable treasure trove of information! 🗝️

Bybit CEO Ben Zhou, in a display of remarkable poise, responded to the crisis by assuring users that withdrawal services had fully resumed. “Twelve hours from the worst hack in history, all withdrawals have been processed. Our withdrawal system is now fully back to normal pace—you can withdraw any amount and experience no delays. Thanks for your patience, and we are sorry that this has happened,” Zhou stated, likely while sipping a calming cup of chamomile tea. 🍵

Highlighting the scale of the attack and its impact on user activity, Zhou revealed that Bybit had processed an unprecedented number of withdrawals since the breach, with over 350,000 withdrawal requests handled within hours. “Since the hack 10 hours ago, Bybit has experienced the most withdrawals we have ever seen. So far, around 2,100 withdrawal requests remain to be processed. Overall, 99.994% of withdrawals have been completed,” he reported, likely with a hint of pride. 📈

Despite the severity of the attack, Zhou emphasized that all Bybit functions and services remained operational. He praised his team’s swift response and dedication throughout the crisis. A true testament to the resilience of the crypto world, or perhaps just a well-timed marketing ploy? Only time will tell! ⏳

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2025-02-22 13:59