4:51 PM Β· 21 February 2025

Sell-off in cryptocurrencies amid suspected hack of ByBit hotwallet πŸ””πŸ’£

The crypto market is witnessing a wipeout of strong gains from the first part of the day, returning to a downtrend. The situation is extraordinary, and the scale of the sell-off is significantly larger than in the stock market, which is also experiencing declines.

Initial speculation suggests that there may have been a hack targeting one of ByBit Official’s hot wallets, leading to the theft of nearly $1.4 billion in Ethereum. The funds were immediately transferred to another address and are currently being liquidated.

The reaction may be short-lived, as these are not substantial sums in the broader market context. However, the broader market declines indicate mild investor panic, further fueled by weaker sentiment in the U.S. stock market.

 

 

13 October 2026, 6:41 PM

Daily Summary: Earnings Season Kicks Off on Wall Street Amid Mixed Sentiment

13 October 2026, 1:02 PM

Market Wrap: European Stocks Rise as Banks Beat Earnings Expectations

9 October 2026, 6:41 AM

Morning Wrap: OpenAI Revenue Concerns Weigh on Wall Street

7 October 2026, 1:44 PM

Bitcoin Hits a Wall. Will β€œUptober” Bring a Crypto Correction?

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the ComissΓ£o de Valores MobiliΓ‘rios (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits