In a dramatic turn of events reminiscent of notorious hacks in the cryptocurrency arena, Bybit, one of the industry’s largest exchanges, has encountered a critical security incident. Reports surfaced about substantial withdrawals from its hot wallets, leading to confirmation from CEO Ben Zhou of an extensive hack that drained approximately $1.4 billion in ETH. This
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In a disturbing revelation, the cryptocurrency exchange ByBit has reported a catastrophic security breach that resulted in the theft of approximately $1.5 billion in Ethereum (ETH). This event, which unfolded on February 21, marks one of the most significant hacks in the cryptocurrency landscape. The platform announced via social media that unauthorized activities were detected
Ethereum, the leading platform for decentralized applications, has found itself in a tight spot, struggling to regain the crucial $2,800 mark. For days, traders have witnessed a tug-of-war between bullish buyers and bearish sellers, with the latter consistently applying downward pressure. The tug-of-war has resulted in a fascinating yet frustrating phase of price action, leaving
For more than three years, Ethereum has remained in the shadow of its all-time high, unable to replicate the explosive price movements seen in other cryptocurrencies, particularly Bitcoin. Despite being the second-largest cryptocurrency by market capitalization, Ethereum’s journey has been one of stagnation amid a broader market recovery. This has led to an atmosphere of
In a groundbreaking move, Altvest Capital Limited has emerged as the first publicly traded company in Africa to embrace Bitcoin not merely as an investment, but as a strategic component of its treasury management. This forward-thinking approach marks a significant departure from traditional asset management strategies, reflecting an evolving financial landscape where cryptocurrencies are increasingly
The collapse of the cryptocurrency exchange FTX sent shockwaves throughout the global financial landscape. As the dust begins to settle, representatives from the FTX Creditors’ group, like Sunil Kavuri, are focused on addressing the pressing issue of compensating creditors from various countries. Countries such as Russia, China, Egypt, Nigeria, and Ukraine have been identified as
In recent months, the cryptocurrency market has witnessed a significant shift in interest, particularly regarding the potential launch of spot exchange-traded funds (ETFs) focused on XRP in the United States. As major players like Grayscale, Bitwise, and 21Shares submit their applications, excitement is building among investors and the broader crypto community. With the approval from
In a significant development for the cryptocurrency sector, Coinbase has reached a preliminary agreement with the staff of the Securities and Exchange Commission (SEC) to dismiss an enforcement case against the firm, pending final approval from the broader Commission. This resolution follows a lengthened legal tussle that not only prompted fluctuations in market sentiment but
The crypto landscape is rife with debates surrounding the legitimacy of various projects, and recent statements from Bybit’s CEO, Ben Zhou, have escalated tensions regarding the Pi Network. Zhou has been vocal in his condemnation of Pi Network, labeling it a scam and firmly asserting that Bybit will not include its token on their exchange.
The cryptocurrency market is an ever-evolving landscape, and Bitcoin, the leading digital currency, has been experiencing a notable consolidation phase that maintains its position below the significant threshold of $100,000 since February. This stagnation raises questions among investors and analysts regarding the future trajectory of Bitcoin, particularly in light of changing political and economic sentiments.
