cryptd.in

LinkedIn alternativo para talentos amigos da criptografia

How Did Bybit’s $1.5B Hack Affect the Crypto Market? An In-Depth Analysis

-

por

cryptd.in
em

Less than two months ago, the crypto exchange Bybit fell victim to one of the largest attacks in the crypto sector’s history, losing about $1.5 billion in ether (ETH) to cyber criminals. While the leading trading platform has recovered significantly from the effects of the attack, market experts have analyzed data that showed how it navigated the incident.

A postmortem relatório obtained by the crypto institutional-grade research firm BlockScholes reveals how deeply the hack affected the broader crypto market, bid-ask spreads, and the role of Bybit’s new Retail Price Improvement (RPI) orders in the platform’s recovery.

How Bybit’s Hack Affected the Market

Recall that the attack targeted one of Bybit’s Ethereum cold wallets. BlockScholes disclosed that the sell-off that followed the incident was not unique to crypto because the market was already witnessing a significant de-risking across crypto assets due to several macro events, including tariff tensions and the launch of DeepSeek’s artificial intelligence (AI) model.

Analyzing the hack’s impact on spot trading volumes, analysts noted a short-lived spike in the hourly trade volume of all Tether (USDT) pairs away from the mean. After the spike, there was a significant drop in bitcoin (BTC) and altcoin trading volumes within the following days.

Bybit’s share in the spot trading volume market dropped from 11% to 4%, and the proportion of BTC traded fell from 50% to below 20%, while ETH volumes remained relatively stable. Although these volumes are yet to return to the high levels seen at the beginning of the year, there has been a significant recovery. The overall spot trading share has risen by a few points to 6-7%.

Despite the plunge in trading volumes, bid-ask spreads remained tight. This metric measures the difference between the lowest ask price and the highest bid price. A tighter spread indicates higher liquidity and lower execution risk.

Swift Recovery

After the hack on February 21, only Pepe (PEPE) and Official Trump (TRUMP) witnessed a significant change in order book depth; BTC and even ETH, the asset stolen during the attack, saw the lowest spreads, recording negligible changes after the incident. However, the order book depth of Bitcoin and Ethereum swiftly recovered within a week, a development attributed to Bybit’s RPI orders.

RPI orders aim to enhance liquidity exclusively for retail traders. The feature is a unique subset of orders placed by market makers or institutional participants that is open to only retail traders who manually interact with Bybit’s user interface.

Bybit introduced RPI orders on February 17, a few days before the hack. So, while the market tried to recover from the incident, there was a good depth of order books, deep liquidity pools, and tighter bid-ask spreads for retailers on Bybit.

A publicação How Did Bybit’s $1.5B Hack Affect the Crypto Market? An In-Depth Analysis apareceu primeiro em CryptoPotato.

Comentários

Deixe um comentário

O seu endereço de email não será publicado. Campos obrigatórios marcados com *

Feeds mais recentes

Categorias populares

pt_PT Português
pt_PT Português en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

Pesquisar no sítio Web

Histórias populares

Etiquetas

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (370) #BitcoinETF (3) #BitcoinFundamentos (1) #BitcoinHandling (1) #BitcoinPrice (5) #BitcoinPriceLevel (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #BitcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTCaquisição (1) #BullishPrediction (1) #BullishSentiment (1) #ChineseMining (1) #CPIPrevisão (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulamentação (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (64) #DogecoinGains (1) #DogecoinVolume (1) #ribunal holandês (2) #EComércio (1) #ElSalvadorBitcoin (1) #Ethereum (62) #EthereumDor (1) #EthereumPrice (1) #ExpertOpinião (1) #FedRateCut (1) #FiatMoeda (1) #Fimpacto financeiro (1) #FinancialPrivacidade (1) #FirmShutdown (1) #FrozenAccounts (1) 1TP5Fundos ilícitos (1) #InflationData (1) 1TP5Investimento (1) 1TP5Perdas de investimento (1) #Firma japonesa (1) #Acção legal (1) #Impacto jurídico (1) #Legislação (1) #LightningNetwork (1) #Manálise de mercado (3) #MMonitorização do mercado (1) #Mprevisão de mercado (1) #Mprevisões de mercado (1) #MProjecção de mercado (1) #MarketSupport (1) #MVolatilidade do mercado (1) #MCasamento (1) #MemeCoin (5) #MemeCoins (2) #MinerRentabilidade (1) #M Lavagem de dinheiro (2) #MtGox (3) #Coreia do NorteCriptografia (1) #NovogratzPrevisão (1) #PriceMilestone (1) #Previsão de preços (2) #PriceQuestion (1) #PriceSurge (1) #PrisãoSentença (1) #QuantAnalysis (1) 1TP5Pressão regulamentar (1) #SECAntiCripto (1) #ShibaInu (5) #SocialBuzz (1) #T Análise técnica (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) #TornadoCashDeveloper (1) #UKCriptografia (1) #UpsidePotencial (1) #USCongresso (1) #WyomingLand (1) #XRPPreço (1) #XRPupswing (1)

Ligações úteis

Ligações que considero úteis e que gostaria de partilhar.