SAFE Plunges 12% After Bybit's Vulnerability Report
1min read SAFE, a leading cryptocurrency platform, experienced a temporary price drop of over 12% on February 26th, according to market data. The decline, which saw SAFE's price fall to $0.4681, was possibly influenced by a recent report released by Bybit.
Bybit's report suggested that the recent $1.5 billion theft was due to a vulnerability in Safe infrastructure. However, Safe responded to this by stating that the theft occurred because the Safe wallet developer's machine was compromised, and no vulnerabilities were found in the Safe smart contract or frontend and service source code.
The impact of Bybit's report on SAFE's price is a reminder of the volatile nature of the cryptocurrency market. As the market continues to evolve, investors and traders must stay informed about the latest developments and potential risks.
In other news, the cryptocurrency market has seen a range of price movements in recent days. Ethereum, for example, has been the subject of speculation about whether market maker Citadel Securities is shorting the asset. Meanwhile, sol experienced a steep decline, with on-chain analysis providing insights into the reasons behind the drop.
Bitcoin, too, has been volatile, falling below $90,000 again and raising questions about the end of the bull market or a temporary bearish turn. As the market continues to fluctuate, traders and investors must stay vigilant and adapt to changing conditions.
