Bitcoin Options Giant Deribit Loses $28 Million in Hot Wallet Hack
The world’s largest bitcoin options exchange, Deribit, was hacked for close to $28 million, according to an update from the company’s official Twitter account on Nov. 2. Deribit says that the firm’s hot wallet was drained just before midnight the day prior. Crypto Derivatives Exchange Deribit Loses $28 Million — Company Says Customer Funds Are Safe and Business ‘Remains in a Financially Sound Position’ In terms of open interest and volume tied to bitcoin (BTC) and ethereum (ETH) options, Deribit has been the leading crypto options exchange for....
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Crypto exchange Deribit halted withdrawals following a hot wallet hack where hackers got away with $28 million in stolen funds. Major cryptocurrency derivatives exchange Deribit has halted withdrawals after suffering a $28 million hot wallet hack.Deribit exchange got its hot wallet compromised before midnight UTC on Nov. 1, the firm reported on Twitter.The exchange emphasized that client funds are safe as losses are covered by Deribit’s reserves, stating:“Client assets, Fireblocks or any of the cold storage addresses are not affected. It's company procedure to keep 99% of our user funds....
The Deribit hot wallet hacker has transferred 1,610 ETH (over $2.5 million) to Tornado Cash, according to data from the Ethereum block explorer Etherscan. In the aftermath of the $28 million Deribit hack, the unknown exploiter is moving stolen funds using the decentralized cryptocurrency mixer, Tornado Cash.The Deribit hot wallet hacker has transferred a total of 1,610 Ether (ETH), or around $2.5 million, to Tornado Cash, according to data from the Ethereum block explorer Etherscan.The funds were transferred in 17 transactions, with the first outgoing transaction occurring on Nov. 5 —just....
Deribit, a leading cryptocurrency futures and exchange, becomes the first victim of crypto hackers for November 2022 as its hot wallet was drained of $28 million. The cyber attack affected the exchange’s Bitcoin, Ethereum and USDC hot wallets. The company, however, has already given its assurance to immediately compensate the losses with the use of […]
This Friday’s unusual weekly $470 million Bitcoin options expiry seems bearish at first glance, but those bets have gone terribly wrong. On Nov. 4 the open interest on Bitcoin (BTC) options reached a new all-time high. As this occurred an even more curious case emerged. On Nov. 6, a total of $470 million in open interest is set to expire. This is rather unusual as usually monthly and quarterly concentrate the liquidity.At the moment, Deribit holds 75% of the open interest, followed by Bit.com with 13%. Oddly enough, on both exchanges, put options represent 65% of the outstanding notional.....
$540 million in Bitcoin options open interest will expire on Friday, and a $93 million imbalance shows bears are taking control. On Dec. 11, a total of $540 million in Bitcoin (BTC) options open interest is set to expire. This number mimics the past month's $525 million options expiry, as monthly and quarterly options typically concentrate the most volume. Although both dates present somewhat unusual activity, this time around, bears seem in control. Data also shows that the Bitcoin bulls appear to have become too optimistic.Currently, the exchange Deribit holds 85% market share for....