The cost of the first cryptocurrency on Tuesday, March 18, unexpectedly dropped to $8,900 on the BitMEX exchange. The site is investigating the incident.

Within a few hours, one or a number of trading participants sold/sold about 1,000 bitcoins for $65 million. As a result, the cost of the first cryptocurrency dropped to a level unseen in several years, $8,920.

The abnormal drawdown lasted several minutes. Then the asset rate recovered and synchronized with the market. According to BitMEX administrators, the fall in the value of the cryptocurrency did not affect the cost of derivatives on the platform.

A market researcher under the nickname syq noticed that the Bitcoin dump caused $10 million in damage. Another, more well-known, anonymous analyst, ZachXBT, did not identify any dubious transactions on the platform.

Now we are working on the hypothesis that a hacker hacked the account of one of the major players on the exchange. The scammer sold the bitcoins, and the BitMEX technical service temporarily disabled the withdrawal function to prevent the criminal from transferring funds to his crypto wallet.

According to figures from the analytical portal Bitcointreasuries, by mid-March 2024, 93.6% of the total number of bitcoins (19,656,760 BTC) had already been mined. Miners have only 1.34 million BTC left to mine, which significantly limits the future supply of the asset.