February’s Crypto Market Faces Historic Losses as Major Events Shake Investor Confidence – BitRss

According to the latest report from Binance Research, the cryptocurrency market experienced a staggering 20.2% decline in February, marking one of the worst Februaries on record. Millions of investors were wiped out, and billions of dollars vanished due to a series of unfortunate events including President Donald Trump’s imposition of a 25% tariff on imports from Mexico and Canada, the largest hack attack in history targeting Bybit, and a severe drop in the memecoin market. Traditional financial markets also faced negative repercussions, with technology stocks, including giants like Amazon, Google, and NVIDIA, suffering significant losses.

Bybit Hack Attack

On February 21, 2025, Bybit fell victim to the largest hack attack in history, resulting in the theft of $1.46 billion in cryptocurrency from its wallets. The hack was attributed to the North Korea-based hacker group, Lazarus. The attackers gained access to Bybit’s Ethereum