There was a sudden sharp decline in Bitcoin Price! What is the Source of the Decline?

Matthew Lilley, CTO of decentralized exchange SushiSwap, made a post warning investors.

At this point, SUSHI CTO stated that investors should not interact with any dApp until further notice and announced that the platform was exposed to a security vulnerability caused by bad software.

SUSHI CTO Lilley also stated that the suspicious code originated from the GitHub page of the hardware wallet provider Ledger, and that this was not a single isolated attack, but a large-scale attack against multiple dApps. The CTO also stated that the library of the hardware wallet provider Ledger was compromised. he added.

Thereupon, there was a general decline in cryptocurrencies. While there was a retreat in Bitcoin, SUSHI and altcoins, BTC shot up to $ 41,400.

It was also observed that there was a decrease of more than 7% in the price of SUSHI.

During this sharp movement of BTC in a very short time, transactions worth $ 54 million in leveraged positions were liquidated and liquidated.

Of the $54 million liquidation, $50.2 million was in long positions and $3.7 million was in short positions.

*This is not investment advice.