The cryptocurrency exchange that refused to list Pi Network was recently hacked, resulting in losses of nearly $1.5 billion.

(NLĐO) - Following news of the Bybit hack, ETH lost nearly $100/ETH, fluctuating between $2,720 and $2,730.

According to D lnews , the second-largest cryptocurrency exchange on the market (according to CoinMarketCap statistics) has just been hacked, resulting in the loss of nearly $1.5 billion worth of Ethereum (ETH). On-chain activity indicates that the hackers sold the stolen funds in the past hour.

“Please rest assured that all other cold wallets are secure. All withdrawal transactions are normal,” said Ben Zhou, CEO of Bybit.

Hackers accessed Ether in the exchange's cold wallet – a secure offline storage device for cryptocurrency – and sent funds to an unknown address.

In a subsequent statement, Zhou said: "Bybit is able to pay even if the losses from this hack are not recovered. All customer assets are backed at a 1:1 ratio. We can offset the losses."

Bybit CEO writes on X to reassure customers after the exchange was hacked.

Ethereum experienced significant volatility after the Bybit exchange was hacked.

Following news of the Bybit hack, ETH lost nearly $100/ETH, currently fluctuating around $2,737.

Regarding Bybit, the exchange's CEO refused to list Pi Network, citing past problems with elderly people demanding their money back after losses. "Today many people asked me if I was going to join Pi. I said stop making fun of me," Ben Zhou wrote on X on February 12th.

In the post, Ben Zhou mentioned that he used to trade forex and struggled to make money, only to be frequently harassed by elderly people holding banners demanding their money back. "I really don't want to get involved in this cryptocurrency world . Stay away."

This has led to a backlash against Bybit's CEO from the Pi community.

Ben Zhou wrote on X, asserting that he will not list Pi Network.

On February 20th, Pi Network officially listed on several exchanges such as Okx, Mexc, and Bitget. A few hours after Pi was listed, Zhou posted on social media platform X to respond to criticism from the Pi Network community who argued that Bybit was losing ground for not listing the cryptocurrency.

In a post on his personal X page on February 20th, Ben Zhou asserted that Bybit never intended to list Pi Network, and completely denied rumors that his cryptocurrency exchange had been rejected by Pi Network or failed to meet the verification requirements.

"Bybit never requested to list $PI, and the claim that Pi Network rejected Bybit or that Bybit failed the KYB process is completely meaningless," Zhou emphasized.

Furthermore, the Bybit CEO cited an official warning from Chinese police in 2023, which accused Pi Network of being a scam targeting the elderly, exploiting them to collect personal data and steal assets.

Zhou asserted that Bybit would never list Pi Network.

According to reports, on the morning of February 22nd, the Pi Network cryptocurrency on exchanges OKX, Mexc, and Bitget continued to fall sharply compared to its initial listing price, hovering around $0.7 USD/pi, a decrease of approximately 65% ​​compared to the $2 USD listed price on February 20th. Notably, this marks the third consecutive day of this Pi price drop.

According to cryptocurrency experts, it's difficult to predict whether the price of Pi will increase or decrease in the short term, as it could be influenced by the team if Pi experiences a sharp drop. However, in the medium term, there is a risk that the value of Pi will continue to fall sharply, possibly below $0,xxx USD/pi.

"Before investing in Pi Network just because it's listed on an exchange, everyone needs to thoroughly research the Pi Network project. Listing on an exchange is only good news in the short term. Many coins have been listed and then delisted, and many people have lost everything. So, don't chase after it if you don't understand the cryptocurrency market; it's very risky."

In the cryptocurrency market, the prices of digital currencies are slightly decreasing. Bitcoin (BTC) is currently priced at $96,131/BTC, down 2% over the past 24 hours; BNB is priced at $649/BNB (down 0.6%); Ethereum (ETH) is priced at $2,683/ETH (down 1.8%)...

Source: https://nld.com.vn/san-tien-so-tu-choi-niem-yet-pi-network-vua-bi-hack-gan-15-ti-usd-19625022200330013.htm