Cryptocurrency Exchange Refuses to List Pi Network, Just Hacked for Nearly $1.5 Billion

(NLDO)- After news of Bybit being hacked, ETH lost nearly 100 USD/ETH, fluctuating in the range of 2,720 - 2,730 USD.

According to D lnews , the second largest cryptocurrency exchange in the market (according to CoinMarketCap statistics), has just been hacked and lost nearly $1.5 billion in Ethereum (ETH). On-chain activity shows that the hackers have sold the stolen coins in the past hour.

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

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

In a later statement, Zhou said: “Bybit is solvent even if the loss from this hack is not recovered. All customer assets are backed at a 1:1 ratio. We can cover the loss.”

Bybit CEO writes on X to reassure customers after exchange hack

Ethereum fluctuates sharply after Bybit exchange was hacked

After the news of Bybit being hacked, ETH lost nearly 100 USD/ETH, fluctuating around 2,737 USD.

Regarding Bybit, the CEO of this exchange refused to list Pi Network when mentioning that he had been in trouble because the elderly asked for their money back when they lost. "Today many people asked me if I joined Pi. I said stop making fun of it" - Ben Zhou wrote on X on February 12.

In the post, Ben Zhou mentioned that he used to do forex trading and had a hard time making money but was often asked to take it back by older people holding banners. "I really don't want to participate in this world of cryptocurrency. Stay away."

This has caused Bybit's CEO to face backlash from the Pi gaming community.

Ben Zhou writes on X, affirms that he will not list Pi Network

On February 20, Pi Network officially listed on several exchanges such as Okx, Mexc and Bitget. A few hours after Pi was listed on the exchange, Zhou posted on social network X to respond to criticism from the Pi Network community that Bybit was losing its position because it did not list this coin.

In a post on his personal X page on February 20, Ben Zhou affirmed that Bybit never intended to list Pi Network, and completely denied rumors that his cryptocurrency exchange was rejected by Pi Network or did not meet the inspection requirements.

"Bybit has never requested to list $PI, and the claim that Pi Network rejected Bybit or Bybit did not pass the KYB process is completely meaningless" - Zhou emphasized.

Not stopping there, the Bybit CEO also cited an official warning from Chinese police in 2023, which accused Pi Network of being a scam model targeting the elderly, taking advantage of them to collect personal data and appropriate assets.

Zhou asserted that Bybit will never list Pi Network.

According to records, on the morning of February 22, Pi Network coins on the cryptocurrency exchanges OKX, Mexc, Bitget still decreased sharply compared to the price just listed, hovering around 0.7 USD/pi, down about 65% compared to the listed price of 2 USD on February 20. Notably, this is the 3rd day that this Pi coin has plummeted.

According to cryptocurrency experts, it will be difficult to determine whether Pi's price will increase or decrease in the short term because there may be an impact from the team if Pi drops sharply. But in the medium term, there is a risk that Pi's value will decrease sharply, possibly below 0.xxx USD/pi.

"Before investing money in Pi when seeing this coin listed on the exchange, everyone needs to carefully research the Pi Network project information. Listing on the exchange is only good news in the short term. It is normal for many coins to be listed on the exchange and then delisted, many people lost everything. So, don't follow if you don't understand the cryptocurrency market, it's very risky"-

In the cryptocurrency market, the prices of cryptocurrencies are decreasing slightly. Bitcoin (BTC) is currently priced at 96,131 USD/BTC, down 2% compared to the last 24 hours, BNB is priced at 649 USD/BNB (down 0.6%), Ethereum (ETH) is priced at 2,683 USD/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