Ether slides below $3,600 after $100 million DeFi hack deepens crypto sell-off
Ether tumbled as much as 9% on Monday, breaking below a key technical support level at $3,600 after hackers drained over $100 million from a major decentralized-finance protocol on the Ethereum network. The sharp drop leaves the world’s second-largest cryptocurrency roughly 25% below its August 22 peak of $4,885, extending a volatile stretch for digital-asset investors.
The latest blow came after the Ethereum-based DeFi platform Balancer suffered a multimillion-dollar exploit — the latest in a series of cyber-incidents and macro headwinds battering sentiment across the crypto market. Analysts said the breach amplified selling pressure already building from recent policy uncertainty and investor risk aversion. Concerns around security…
