Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion worth of tokens in the biggest theft ever committed in the industry. Researchers believe North Korean hackers were likely responsible.
I’m not sure I understand the question… Do you think the market value of these coins is made up (as in not directly related to demand), and you can’t actually go onto an exchange and trade it for actual USD? Because of course you can.
1 Bitcoin (not a token) is currently worth over $95,000
That was the supposed amount of ETH that was stolen. 1 ETH is currently around $2800. The value it has is because people are buying ETH for that price. So you take $2800 and multiply it by 400000. Carry the 5, etc. That’s $1 120 000 000.
There was some other stuff stolen too I think. I haven’t really looked into it.
That someone can just make off with that amount of digital “currency” sure inspires trust in that system, so the $2800 price tag might be a bit optimistic.
Well it does show that you really do own your own coins. You have to own something before you can lose it.
With government created currencies this is not really the case, banks can stop any transactions and even close your account, the government can freeze it if they desire, and all that kind of stuff.
how is $1.5 billion in worth calculated because no way bitcoin tokens are worth more than $20.
I’m not sure I understand the question… Do you think the market value of these coins is made up (as in not directly related to demand), and you can’t actually go onto an exchange and trade it for actual USD? Because of course you can.
1 Bitcoin (not a token) is currently worth over $95,000
They’re worth what you can sell them for. The US dollars they’re priced in don’t exactly inspire confidence these days, either.
401,347 ETH
You wanted to know how it’s calculated.
That was the supposed amount of ETH that was stolen. 1 ETH is currently around $2800. The value it has is because people are buying ETH for that price. So you take $2800 and multiply it by 400000. Carry the 5, etc. That’s $1 120 000 000.
There was some other stuff stolen too I think. I haven’t really looked into it.
Oh it I know! I as just joking that I still didn’t get it it was appreciated by my though thank you!
That someone can just make off with that amount of digital “currency” sure inspires trust in that system, so the $2800 price tag might be a bit optimistic.
Well it does show that you really do own your own coins. You have to own something before you can lose it.
With government created currencies this is not really the case, banks can stop any transactions and even close your account, the government can freeze it if they desire, and all that kind of stuff.