Tag Archives: Bybit

Several Binance users have reported falling victim to an SMS spoofing attack. The phishing text appeared within Binance’s official message thread, making it nearly indistinguishable from legitimate communications. User Reports Binance Phishing Incident One user, Joe Zhou, shared his experience in a LinkedIn post, stating, “I want to report a recent scam related to the Bybit incident and Binance.” Zhou described receiving an SMS from the same Binance number where he typically...

US authorities have made significant progress in combating cryptocurrency-related crime by seizing approximately $31 million linked to the 2021 Uranium Finance hack. The announcement was made by the US Attorney’s Office for the Southern District of New York (SDNY) and Homeland Security Investigations (HSI) in San Diego this week, nearly four years after the attack. Uranium Hack Seizure The hack, which occurred on April 28, 2021, exploited a critical vulnerability in Uranium...

Thorchain, the interoperability-focused decentralized exchange protocol, is losing key developers as internal disagreements escalate over how to handle illicit funds flowing through the network. The issue gained urgency after reports confirmed that North Korea’s Lazarus Group has been using the protocol to launder Ethereum (ETH) stolen in the recent Bybit hack. Developers Look to Quit Over Failure to Block Illicit Funds Pluto, a core Thorchain developer, announced his...

Former Binance CEO Changpeng Zhao (CZ) has criticized Safe Wallet’s post-mortem update on the Bybit hack, calling it “not that great” and raising concerns about how attackers tricked multiple signers. His comments follow an audit report stating that the breach resulted from a compromise of Safe’s infrastructure rather than the exchange’s systems. Safe’s Response Forensic investigations found that compromised Safe Wallet credentials led to the nearly $1.5 billion Bybit...

FBI confirms North Korean hackers stole $1.5B from Bybit, urging crypto firms to block transactions and prevent the laundering of stolen crypto. The Federal Bureau of Investigation (FBI) has issued a security advisory confirming that North Korean hackers were responsible for a massive cryptocurrency theft. The Bybit exchange became the target of the attack, which resulted in digital asset losses amounting to $1.5 billion. Later, the FBI requested cryptocurrency service providers to adopt...

Bybit closes its ETH gap after a $1.4B hack, with a new Proof of Reserves report confirming full asset coverage. Bybit, a major cryptocurrency exchange, has successfully closed its Ethereum (ETH) gap after suffering a major hack on February 22. Ben, CEO of Bybit, shared this news on his official X account. The company expressed that an audited Proof of Reserves (POR) report will soon become available to the public. The newly formed audit demonstrates that Bybit controls 100% of client assets...

Bybit invests $1M in EthicHub to provide fair loans, boost coffee farmers’ productivity, and promote blockchain-driven financial inclusion for rural communities. Bybit, the second-largest cryptocurrency exchange by trading volume, has invested $1 million in EthicHub. It has entered the Blockchain for Good Alliance (BGA) which supports social implementations of blockchain technology. The company envisions blockchain technology will serve society by creating positive change. The Blockchain for...

Bybit launches a $140M bounty program, rewarding ethical hackers for recovering stolen crypto. The initiative strengthens security, transparency, and industry trust. Bybit has announced a $140 million bounty program to recover stolen cryptocurrency assets. The company works with ethical hackers and cybersecurity professionals to recover funds compromised through its platform. Bybit provides an incentive program that distributes 10% from recovered funds as a reward to those who participate....

Bybit freezes $42.89M in illicit funds with industry partners, halting crypto fraud. Swift action also blocks $26M meme token laundering scheme. In a significant move against crypto-related fraud, Bybit successfully froze $42.89 million in hqdk illicit funds within just one day. The collaboration between Tether and THORChain as well as ChangeNOW and FixedFloat with Avalanche Ecosystem and CoinEx and Bitget and Circle resulted in this accomplishment. Every partner took responsibility in...

The leading crypto derivatives trading platform, Bybit, has outlined potential challenges awaiting the Japanese yen carry trade in 2025 as the Bank of Japan (BoJ) implements policy changes and faces evolving economic conditions. According to the report, the yen’s status as a primary funding currency in the foreign exchange (FX) market could be questioned in the coming months. The evolving Japanese financial landscape could see an increased risk of rapid unwinding in yen carry...