Market Reacts to Bybit Hacking Incident as Ethereum Prices Drop | The cryptocurrency market is in turmoil following the Bybit hacking incident. The hack that occurred on the 14th caused a decline in the price of Ethereum (ETH), with the total market capitalization of cryptocurrencies dropping by 2.25% to $200 billion as of 5 PM on the 23rd. Bybit's market capitalization also fell by 31.16%, while Bitcoin (BTC) rose by 1.39% to $96,629.62. Meanwhile, Ethereum's price dropped by 4.79% to $2,768.91. Bybit's CEO, Ben Zhou, announced that measures related to the hacking incident had been taken, and several exchanges pledged their support. The hack has heightened market anxiety and increased interest in enhancing security.