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A recent hack on the Ethereum network has resulted in a theft of $1.5 billion, leading to a 6% decline in Bitcoin's value and over a 10% drop in Ethereum (ETH). The incident has prompted discussions regarding the potential for Ethereum to reverse transactions, particularly in light of the $1.4 billion loss associated with the Bybit exchange. Analysts are examining the implications of this hack on the broader cryptocurrency market, including the potential risks faced by exchanges like Bybit, which is reportedly still short on ETH despite the recent price recovery.
💡 INSIGHT: Can Ethereum actually reverse transactions? The Bybit hack with $1.4B loss has sparked serious debate about whether Ethereum should roll back its blockchain. https://t.co/4liRjnRGXR
With ETH pumping, has anyone checked in on Bybit?
Bybit is playing a dangerous game They used intentionally misleading wording, they "closed the gap" with borrowed ETH This is the first time that the ETH price is higher than it was since the hack, and they still have A LOT to buy back Bybit is still effectively short ETH…
