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.
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.
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.