Tag Archives: AA News

In what is considered now the largest hack within the cryptocurrency industry, Bybit’s hot wallet was compromised when trying to complete a legitimate transfer, and roughly $1.5 billion, mostly in ETH, was stolen by being sent to another address. Aside from the immediate impact on crypto prices, such a notable incident garnered the attention of the community, and now some prominent figures are calling for a rollback of Ethereum’s chain. Hayes, Mow Say Yes Arthur Hayes, the...

Base, the layer-2 network of the largest American crypto exchange, Coinbase, is facing tough times following the chain’s strong entrance into the market over a year ago. Data from the market analytics platform IntoTheBlock shows that the Base ecosystem is under pressure, a challenge driven by the market’s recent dip. Base Ecosystem Under Pressure After reaching a peak of $4 billion in total value locked (TVL) in mid-December 2024, Base is now struggling with a TVL of $3.2...

Bybit CEO Ben Zhou confirmed in a Friday livestream that the $1.5 billion hack against his crypto exchange lost the firm the vast majority of its customers’ ETH holdings.  “I believe it was around seventy percent,” Zhou told viewers, when asked how much was lost relative to the company’s ETH assets under management. “We normally keep sixty to  seventy prevent in the cold wallets, and I believe this was the amount.”  What Caused The Hack? The breach, first flagged by on-chain...

As the details around perhaps the largest hack in the cryptocurrency industry continue to unravel, BTC’s price has started to crash once again, falling by over four grand since today’s peak. With the altcoins in a similar state, it’s no wonder that the total value of liquidated positions has skyrocketed to over $600 million on a daily scale. Recall the events that took place earlier today when reports emerged about suspicious transfers made from Bybit’s hot wallets. Later on,...

The financial regulator also appears to be easing up or pausing its rafts of ongoing litigation against crypto companies. However, those with imminent deadlines may still be on the table. “I’m told by multiple legal sources that the SEC has been prioritizing cases with imminent court deadlines, which is one explanation for why we haven’t seen pause requests in the Ripple and Kraken cases,” reported Fox Business’s Eleanor Terrett on Feb. 19. Ripple’s next court deadline is...

Sam Bankman-Fried, the once crypto wunderkind turned convicted fraudster, appears to have found a new investment thesis – hitching his legal fate to the political winds. After years of playing the role of a prolific Democratic donor, the former FTX CEO is now parroting grievances against the Department of Justice, the judiciary, and the very system that held him accountable for one of the most spectacular financial implosions in recent history. Despite being sentenced to 25...

Altvest Capital Limited has become the first publicly traded company in Africa to adopt Bitcoin as a strategic treasury asset. The company announced its initial investment in Bitcoin (BTC) as part of a broader treasury management strategy, which aims to strengthen financial resilience, preserve shareholder value, and gain direct exposure to the world’s largest crypto asset. Bitcoin as Treasury Asset The company cited Bitcoin’s characteristics as its motive behind the...

Ethereum Layer 2 platform, Abstract, has released an initial post-mortem on a security incident that resulted in the compromise of approximately $400,000 worth of ETH across 9,000 wallets interacting with Cardex, a blockchain-based game on its network. The report clarified that the breach stemmed from vulnerabilities in Cardex’s frontend code rather than an issue with Abstract’s core infrastructure or session key validation contracts. Cardex Wallet Compromise The incident...

The leading cryptocurrency market maker, Wintermute, has revealed plans to expand its business to the United States amid the emergence of a more favorable environment for digital assets in the country. Wintermute’s CEO Evgeny Gaevoy disclosed the company’s plans in an interview with Bloomberg at the ongoing Consensus crypto conference in Hong Kong. Gaevoy said Wintermute is looking to open an office in New York and offer new products to crypto users in the country. Wintermute...

Barstool Sports founder Dave Portnoy launched a meme coin called $GREED today from his official wallet. However, he sold his entire position an hour later, causing the token’s value to crash by more than 90%. A Social Experiment In a February 19 post on X, the founder criticized the meme coin space, stating: “The entire ecosystem is Greed and nothing else. Go dump on each other peasants but don’t complain to me if you lose money. You are all greedy. At least admit it.” He...