Major cryptocurrency exchange Bybit has seen total outflows of over ... move the $3 billion in stablecoin reserves, it was facing a bank run of “about 50%” of all the funds within the exchange.

Prior to Bybit’s breach, the withdrawal of around $1 billion from the Central Bank of Iraq is said to be the largest bank robbery of all time, according to the financial news site World Finance.

Bybit, one of the world’s largest cryptocurrency exchanges, experienced a hack Friday in which over $1.4 billion worth of crypto was stolen, according to blockchain-analytics firms. It’s the ...