Crypto Money Market worth $ 1.4 billion Ethereum $2,682.11‘s (eth) stolen Bybit hack attackshaken by echoes. However, the market hardly reacted to this big attack. QCP CapitalAccording to the market, the reaction of the market showed that the crypto currency ecosystem matured and became stronger after the collapse of the FTX exchange in 2022. Bybit Stock Exchange quickly maintained its reliability by providing a bridge loan to overcome the liquidity crisis. Despite the huge demands for withdrawal, the survival of the stock market reveals the point of the sector.
How did the crypto currency market so strong?
QCP Capital, BybitThe big hack attack, which was targeted, underlined that the crypto currency market has taken lessons from past crises. Especially after 2022, it was emphasized that there were significant developments in security and corporate governance issues. After major events such as FTX’s bankruptcy, stock exchanges have taken serious steps to increase security.
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As a matter of fact, the ability to continue its activities despite the withdrawal of over $ 6 billion after the attack shows that liquidity is strengthened in the sector. In the past, similar sized events caused harsh price movements in the market. However, the market now has a more balanced structure. The increase of corporate investors and the development of the lending market increases their resistance to such major events.
While doubts about the identity of the hackers continue, the attack is connected to North Korea. Lazarus Group claimed by. According to QCP Capital, if this is true, cyber security measures worldwide will need to be further tightened.
Does the risk continue for ETH price?
Bybit’s weekend Eth Thanks to their purchases, there was no big decline in the price of the Altcoin king. However, with the end of these purchases, the risk on the market came up again. QCP Capital, option marketHe reported that the risk was reversed and that investors took a position by waiting for a price decrease in March.
On the other hand, Lazarus Group is known to have 0.42 percent of ETH supply. This makes them the largest 14th ETH owner in the world. According to analysts, if these funds are launched, Ethereum priceThe downward printing may increase.
QCP Capital emphasized which methods to use the Hackers to launder the ETHs stolen in the coming period. Although mobility has been limited so far, experts emphasize that hackers can try to lose their traces of funds they stole through crypto mixtures and defi protocols.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
