bybitwallethack

🙄Hack A group of DPRK #hackers #LazarusGroup hacked a cold wallet on the exchange for 400k $ETH ($1.5 billion dollars)
Now they have more ether than Vitaliy Buterin, the creator of the token himself
😀The channels are already screaming that North Korea has announced a strategic reserve of ether😂

#BybitHack #BybitWalletHack

ByBit has suffered a major security breach. 401,346 wrapped $ETH (~$1.1B) was withdrawn from an exchange wallet and immediately swapped for regular ETH on DEX.

ByBit’s CEO confirmed that a hacker gained control of a cold Ethereum wallet and moved all ETH to an unknown address. 👀

🔎 ZachXBT also flagged this as a confirmed hack.

Stay alert – more updates to come! ⚠️

#BybitHack #BybitHacked #BybitWalletHack

1️⃣ Bybit Processes All Withdrawals, System Returns To ‘Normal Pace’: Ben Zhou 🔼
#BybitWalletHack
In a recent statement posted to X, Bybit CEO Ben Zhou reassured users that the crypto exchange is “fully back to normal pace” after being hit by the single largest hack in the crypto industry’s 15-year history. For context, the hack saw over $1.4 billion in crypto assets drained from the platform. Zhao stated the exchange is now processing all withdrawals. He assured users they could withdraw without limits or delays and apologised to his 200,900 X followers for the unexpected incident. A full incident report and a security assessment will reportedly be released in the coming days.

2️⃣ Coinbase, SEC Reach Agreement to Dismiss Lawsuit ‼️
#CoinbaseExchange.
The U.S. Securities and Exchange Commission (SEC) has reportedly agreed to dismiss its lawsuit against crypto exchange Coinbase. While the dismissal is still subject to approval by an SEC commissioner before the suit is officially withdrawn, Coinbase CEO Brian Armstrong said that the agreement was "hugely vindicating"

Armstrong stated,

If this goes through, it’s a really big deal, not just for us, but for the whole crypto industry, the 50 million Americans who hold crypto, and I think for the rest of the world because this is an important signal about where things are going.

3️⃣ ZachXBT Identifies Lazarus Group As Behind Bybit $1.4B Hack, Wins Arkham Bounty 🔍
#LazarusGroup
According to an announcement by Arkham Intelligence, the on-chain sleuth ZachXBT has identified North Korean hacker group Lazarus as being behind the $1.46 billion Bybit hack on Feb. 21. The finding was made as a submission by ZachXBT in a 50,000 ARKM (worth roughly $31,500) bounty posted by the on-chain intelligence firm. Additionally, later reports state that new on-chain findings have revealed that the same Lazarus Group-affiliated wallets were behind January’s $29 million Phemex hack in January.

4️⃣ Franklin Templeton Seeks SEC Approval For A Solana ETF Involving Staking ▶️

Asset manager Franklin Templeton’s recently filed S-1 registration statement for a Franklin Solana ETF reportedly includes language proposing staking of the assets held by the fund. The filing also states the shares would be listed on the Cboe BZX Exchange, and the custodian will be Coinbase Custody Trust Company, LLC.

The filing reads,

In consideration for any staking activity in which the Fund may engage, the Fund would receive certain staking rewards of Solana tokens, which may be treated as income to the Fund.

5️⃣ NFT Marketplace OpenSea Says the SEC Is Ending Its Investigation ☄️
#nft #BybitSecurityBreach
According to a Bloomberg report, the United States Securities and Exchange Commission (SEC) has concluded its investigation into the OpenSea NFT marketplace. Notably, the move comes shortly after the SEC decided to dismiss its case against Coinbase. The fact that both announcements were made in quick succession suggests the SEC may pull back from a number of its ongoing crypto-related investigations and lawsuits.