Ethereum Sheds 7% After a Hacker Converted $288 Million Worth of the Crypto Into Bitcoin

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On Sunday, ether traded as low as $1,118.64. Bitcoin fell roughly 2% Monday to hover at $16,029.

Year-to-date, the world’s second largest crypto by market value has seen 75% of its value evaporate. Losses for the token and others like bitcoin and Solana have accelerated in recent weeks as fears of an FTX contagion spread.