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Comment on Crypto exchange Bybit says a hacker took control of one of its cold Ethereum wallets, resulting in what analysts estimate was the loss of ~$1.5B worth of tokens

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x00z@lemmy.world ⁨1⁩ ⁨week⁩ ago

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.

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cupcakezealot@lemmy.blahaj.zone ⁨1⁩ ⁨week⁩ ago
Oh it I know! I as just joking that I still didn’t get it it was appreciated by my though thank you!

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Treczoks@lemmy.world ⁨1⁩ ⁨week⁩ ago
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.

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