Crypto crashhttps://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF7Ql0nvs-yNcFBwIZv7VNcp-ZXjwGSPZ0SRQrs0X7n0PTcq8uIpwMqRUxqK_ma3cdhlkmfNGgwJ9_Ve-rjjlTBdiMWgvTKz1N2hjzQ6eJMyIwky-nIVoYApBTiIPsJRf0ophyphenhyphenmOjU1idNojmsdoP6pVuNx7PGbV1cKXf3XdgmmFq8_O31XhyphenhyphenNlhdQ8sWI/w640-h638/Screenshot_19.jpgThe cryptocurrency market recently experienced a sharp decline, losing $325 billion in market value since Friday. On Tuesday, within just one hour, the market lost $100 billion without any major news triggering the sell-off. According to reports, $150 billion in assets were liquidated in the past 24 hours, with nearly all cryptocurrencies seeing significant drops. This widespread selling has affected not only major cryptocurrencies but also smaller assets, leading to a broader downturn.
One of the hardest-hit areas was the memecoin market, which suffered from a sudden loss of liquidity. Analysts believe this was largely caused by Solana's price drop of 22% since Friday. Solana had performed well during the recent memecoin frenzy, but as the hype died down, its momentum faded. With investors pulling out funds, the entire memecoin sector saw a steep decline, adding to the overall market losses.
The biggest factor behind this crypto crash was the security breach at Bybit, a Bybit user lost $1.44 billion through crypto scammers, making it one of the largest crypto thefts in history. This event significantly impacted investor confidence, causing panic in the market. The loss was nearly double the amount stolen in the PolyNetwork hack of 2021, which was previously the second-largest crypto heist. As concerns over security increased, many investors chose to sell off their holdings.
https://www.cryptocrit.xyz/2025/02/crypto-crash-experts-pointed-security.html 