Bybit Hacker Emerges as World's 14th-Largest ETH Holder, Creating Supply Squeeze
Ether trades 2% higher as the hacked ETH is seen as a permanently lost supply.
Recent reports have revealed a surprising development in the world of cryptocurrency, with the Bybit hacker emerging as the world's 14th-largest holder of Ethereum (ETH). This unexpected turn of events has sparked concerns about a potential supply squeeze in the Ether market.
The hacker's sizable holdings have caused a stir among investors and experts, as the hacked ETH is now considered as permanently lost supply. As a result, Ether has seen a 2% increase in trading value as market participants react to the news.
The revelation has raised questions about the security of cryptocurrency exchanges and the broader implications for the market. With the hacker's ETH holdings now in the spotlight, the crypto community is closely monitoring the situation to assess its impact on the overall supply dynamics of Ethereum.