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Ether Supply Squeeze? Bybit Hacker Emerges as World's 14th Largest ETH Holder

Summary by Coin Desk
Ether trades 2% higher as the hacked ETH is seen as the permanently lost supply.
DisclaimerThis story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.

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Coin DeskCoin Desk

Ether Supply Squeeze? Bybit Hacker Emerges as World's 14th Largest ETH Holder

Ether trades 2% higher as the hacked ETH is seen as the permanently lost supply.

·Manila, Philippines
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btcnewse.combtcnewse.com

Ether Supply Squeeze? Bybit Hacker Emerges as World's 14th-Largest ETH Holder - BTCNEWS - Bitcoin and Crypto News

The Bybit hacker, supposedly a North Korean entity, is now one of the world's largest ether holders, which may have bullish implications for the cryptocurrency's spot price. According to data from Arkham Intelligence and Coinbase executive Connor Grogan, this malicious actor holds 489,000 ETH, valued at approximately $1.34 billion, constituting about 0.4% of ether's total supply, making it the 14th-largest Ether holder globally. That puts the ha…

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Coin Desk broke the news in Manila, Philippines on Saturday, February 22, 2025.
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