Bybit hacker sells Ethereum worth $40 million; ETH price down 6% from previous day

A hacker who is believed to be the culprit behind the hack of the Bybit cryptocurrency exchange in February sold approximately 14,064 Ethereum (ETH), equivalent to 4 billion yen, on the 28th, sending shock waves through the market. According to a report by analysis companies Lookonchain and Arkham, a large amount of ETH was sold off from two newly confirmed wallets at an average price of $1,956.

As a result of this large-scale sale, approximately $27.5 million worth of DAI tokens were obtained, directly impacting the price of ETH. Experts point out that the token dump by the hacker may have contributed to the decline of the cryptocurrency market. At the same time, the entire cryptocurrency market...