Bitcoin (BTC), Ether (ETH) Slumps as Crypto Prices Crumble on Report of Massive $1.4B Bybit Security Incident

02/21/2025 22:52

The move happened as crypto exchange Bybit saw a sudden $1.4 billion worth of ETH outflow.

Feb 21, 2025, 3:51 p.m. UTC

Bitcoin continued its downtrend of recent days. (Getty Images) — Red arrows pointing down falling drop (Getty Images)

What to know:

Cryptocurrency prices dropped on Friday, reversing early gains on reports that crypto exchange Bybit was seeing $1.4 billion worth of crypto outflows in a potential security incident.

Bitcoin (BTC) slid to near $97,000 from challenging the $100,000 earlier during the day, while ether (ETH) slipped nearly 4%, dipping below $2,700.

Krisztian Sandor

Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.