In a world increasingly reliant on digital assets, the recent security breach at Bybit has exposed glaring vulnerabilities within cryptocurrency exchanges. Recently, CEO Ben Zhou revealed that a staggering $1.07 billion—approximately 77% of the total $1.4 billion pilfered—remains traceable, sparking a renewed debate around transparency and accountability in the crypto landscape. While this figure may
Exchanges
In the ever-evolving world of cryptocurrency, few proposals elicit such fervent backlash as the recent attempt by Cronos to resurrect 70 billion CRO tokens that were previously burned. The overwhelming consensus during the early voting phase has been one of staunch opposition, with a staggering 87% of participants on Mintscan casting their votes against the
The CME Group recently announced its plans to launch Solana (SOL) futures contracts, a significant development in the cryptocurrency landscape. Slated for release on March 17, pending necessary regulatory approval, this move is a response to burgeoning demand from clients across financial markets. Notably, the new offerings will include both a 25 SOL micro-contract and
Dunamu, the company behind South Korea’s premier cryptocurrency exchange, Upbit, has recently found itself embroiled in a contentious legal dispute with the country’s Financial Intelligence Unit (FIU). This conflict emerged as part of a broader initiative by South Korean authorities aimed at tackling the growing prevalence of crypto-related infractions. The FIU issued a suspension order
The cryptocurrency sector in the United States is teetering on a precarious edge as regulatory scrutiny intensifies. Following a lengthy battle with the U.S. Securities and Exchange Commission (SEC), Gemini’s co-founder, Cameron Winklevoss, has passionately urged the agency not only to reimburse the exchange for its legal expenditures but also to terminate officials involved in
The United States Securities and Exchange Commission (SEC) has often been at the center of debates regarding cryptocurrency regulations. As the field navigates uncharted waters, the SEC’s investigative and enforcement actions have sparked significant concern among industry leaders and innovators. Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, has been particularly vocal about the ramifications
The recent cyberattack that preyed upon Bybit and Safe, resulting in an astonishing loss of $1.4 billion, has sent ripples through the cryptocurrency and blockchain security community. Although initial reports suggest that Bybit’s core infrastructure remained intact during the attack, a critical vulnerability in a developer’s machine proved to be the gateway for the hackers,
In a significant turning point, OKX has taken a bold step towards rectifying its regulatory missteps by agreeing to a settlement of $500 million with U.S. authorities. This decision comes in the wake of serious allegations regarding its compliance practices, spotlighting the broader challenges faced by cryptocurrency exchanges in adhering to regulatory standards. On February
In the realm of cryptocurrency exchanges, trust and security are paramount. A recent incident involving Bybit has thrown the spotlight on these critical elements. The platform found itself in a precarious situation following a security breach that resulted in the loss of a substantial amount of Ethereum. In a bid to aid Bybit during this
In a decisive move reflecting the European Union’s ongoing efforts to curb financial flows supporting Russia’s military operations, Garantex, a crypto exchange based in Russia, has become the focus of targeted sanctions. Announced on February 24, as part of the EU’s 16th sanctions package in response to the Ukraine crisis, this action highlights the growing
