Day: February 23, 2025

Bybit CEO Says Crypto Exchange Is Solvent, All User Assets Backed 1:1 Following ‘Largest Heist of All Time’

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The chief executive of the crypto exchange Bybit is assuring customers that the firm can meet all withdrawal requests following a massive cybersecurity incident. On Friday, Bybit witnessed a major security breach that allowed thieves to siphon $1.4 billion worth of Ethereum (ETH) and stETH from the exchange’s cold wallet. Coinbase executive Conor Grogan calls the attack the biggest theft in recorded history. “The NK (North Korea) hack of Bybit is the largest heist of all time, of any medium (Central Bank of Iraq heist was ~$1 billion). It’s ~10x…

Bybit Hack Funds Funneled Through Meme Coins, Onchain Sleuth Reports

The Lazarus Group, a North Korean-linked cybercrime entity, allegedly laundered $1.4 billion stolen from crypto exchange Bybit this week using meme coin platforms and cross-chain transfers, according to onchain investigator ZachXBT. $1.4B Bybit Hack Tied to Lazarus Group, Laundering Involved Pump Fun Meme Coins The Lazarus Group, notorious for high-profile crypto hacks, is accused of […] Source CryptoX Portal

SEI Climbs 16% As Market Wobbles Post Bybit Hack

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Este artículo también está disponible en español. The cryptocurrency token SEI has actually stood out as a noteworthy example of market endurance, which was further confirmed by this token posting a solid 16% within the previous week. Related Reading Obviously, the token’s performance came on the back of a gloomy mood in the cryptocurrency markets after the Bybit security breach and what came thereafter for crypto prices. Thus, SEI has successfully set its own pace to attract its own followers on the investor side and show great aptitude for growth…

Cryptocurrencies to watch this week: Optimism, Bitcoin, Sui

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Cryptocurrency prices were mixed last week as concerns about tariffs, interest rates and the $1.4 billion Lazarus Group hack on Bybit.  Bitcoin (BTC) price remained below $100,000, while Ethereum (ETH) crashed below the $3,000 mark. The crypto fear and greed index moved to the neutral point, while Bitcoin’s dominance was at 60%. This article explores why Bitcoin, Optimism (OP), and Sui (SUI) will be in the spotlight this week. Bitcoin BTC chart | Source: crypto.news Bitcoin, the biggest cryptocurrency, will be in the spotlight this week as technicals point to…

Does the US Hold Its Famous Gold Reserves? Polymarket Bets 21% That Fort Knox Gold Is a Mirage

Speculation over Fort Knox’s gold reserves grows as decades without full audits fuel doubts about the vault’s contents. On Polymarket, bettors now price a 21% likelihood the gold doesn’t exist, mirroring lingering public distrust despite official claims of security. Is America’s Iconic Gold Secure? 21% of Polymarket Bettors Say No Decades of conjecture have swirled […] Source CryptoX Portal

Bybit’s Record $1.5B Hack & How Best Wallet Token Is Redefining Crypto Security

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The famous crypto firm and exchange, Bybit, has been hit by possibly the biggest crypto theft in history. The Dubai-based company said that hackers managed to steal $1.5B worth of digital currency. The attack, which was apparently carried out by North Korea’s Lazarus Group, was a highly sophisticated one. Perpetrators were able to intercept a transaction taking place from the exchange’s cold wallet to the warm one. They manipulated the transaction’s signing interface and quickly diverted 401,000 $ETH to an unidentified address. Ironically, the breach affected Bybit’s cold wallet, which…

Will BNB Hold or Plunge to $214?

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

SKI, AVAIL and TST pump 50% while BTC struggles at $96k

The price of Ski Mask Dog, Avail and Test has surged over 50% in the last 24 hours amidst the overall muted market performance. According to the latest data from CoinGecko, these three coins have earned the spotlight as the top three gainers in the last 24 hours. Coming to SKI, who has earned the first ranking, has pumped 55% from a 24-hour low of $0.05286 to as high as $0.08254. The meme coin on the Base network has been trending on X recently. Source: CoinGecko There have been reports…

Crypto sector rallies behind Bybit, responds to $1.4b breach

Major cryptocurrency firms have launched a coordinated defense following Bybit’s recent security incident. The exchange’s CEO, Ben Zhou, announced that multiple industry leaders have joined forces to track, contain, and minimize the impact of the exploit. A Huge Thank You to Our Partners and Community After last night’s security incident, we’re incredibly grateful for the swift action and support from our partners, security teams, and the broader crypto community. Your dedication and collaboration helped us navigate the situation… pic.twitter.com/jvX683iA0U — Bybit (@Bybit_Official) February 22, 2025 The response has united both…

Cardano Remains In Consolidation – Expert Projects 25% Price Move

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Este artículo también está disponible en español. Cardano is trading above key demand levels after experiencing a volatile Friday. The market reacted sharply to the news of Bybit’s $1.4 billion hack, causing widespread fear and uncertainty. Prices across the crypto market, including Cardano, dropped from local highs, testing critical support levels. ADA fell over 7% on Friday as panic-driven selling took hold, but the market has since stabilized as Bybit reassured investors with a strong response. Related Reading Despite the short-term volatility, analysts remain optimistic about ADA’s next move. Top…