Bitcoin, Ether Slump as Crypto Prices Dip on Report of Massive $1.5B Bybit Hack

Cryptocurrency prices fell on Friday after reports of a large outflow of cryptocurrency from the Bybit exchange, possibly due to a security breach. Bitcoin's price dropped to around $97,000 after being near $100,000 earlier in the day, and Ether fell about 4% to below $2,700. This sudden price drop caused approximately $100 million in losses for traders who had bet on prices rising. The drop followed a report of a suspicious $1.5 billion outflow of Ether, which Bybit's CEO later confirmed as a hack.