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On 21 February, hackers stole about USD1.5bn in crypto assets from Bybit, a Dubai-based crypto exchange, marking the biggest-ever crypto theft. Redeye believes the ~8% sell-off in CoinShares share is from investors fearing CoinShares having exposure to the exchange. However, Redeye has confirmed with CoinShares that it has no exposure to the exchange. Thus, Redeye believes the sell-off is unfounded.
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