KeyTakeaways: CZ warns crypto exchanges about multi-sig cold storage vulnerabilities after Bybit hack.   Lazarus Group’s advanced tactics target multi-sig systems across multiple exchanges.   CZ advises pausing withdrawals post-breach to limit damage and restore user trust. Changpeng Zhao (CZ), former Binance CEO, recently expressed concern over hackers' increasing ability to target multi-sig cold storage solutions on…

Ben Zhou, Co-Founder and CEO of Bybit revealed that the Exchange received over 350,000 withdrawal requests since yesterday when it lost $1.46 billion to a hack.  Bybit completed an impressive 99% of the said withdrawal requests with over 2000 requests pending at the time of the report.  Ben Zhou shared the information on his X…

The Asian crypto community has rallied around the Bybit team as they navigate what is arguably the biggest hack ever in the Finance Space.  Binance and Bitget, both Asian-led Exchanges, donated a collective 50,000 ETH to Bybit in the aftermath of the hack that saw the exchange lose $1.46 billion.  Gracy Chen, CEO of Bitget,…

Paolo Ardoino, CEO of Tether, commended the Bybit management for exhibiting stellar crisis management while freezing $181,000 of loot.  The CEO of one of the largest Stablecoin Issuers in the industry hailed Bybit CEO Ben Zhou for effectively handling the crisis.  https://twitter.com/paoloardoino/status/1893256025681055852 Paolo announced later that Tether has frozen 181,000 USDT linked to the address of…

A Brazilian citizen accused of orchestrating a $290 million cryptocurrency fraud scheme has been extradited from Switzerland to the United States, where he faces a 13-count indictment for wire fraud and conspiracy.  Douver T. Braga, 48, appeared in U.S. District Court in Seattle on February 21 and pleaded not guilty to all charges. His trial…

Coinbase CEO Brian Armstrong discusses the future of meme coins, warning about scams while urging an open-minded approach to their potential role in crypto. Coinbase CEO Brian Armstrong has shared his perspective on the growing role of meme coins in the cryptocurrency space. While acknowledging concerns over scams and speculation, Armstrong emphasized the need for…

Bybit, a major cryptocurrency exchange, is moving to shore up approximately $1.5 billion worth of Ether (ETH) through loans after funds were stolen by North Korea-linked Lazarus Group, according to industry analyst Eric Wall.  Per Wall’s analysis in a February 21 X post, the exchange’s decision to take out loans instead of liquidating its assets…

Blockchain investigator ZachXBT has linked the recent $1.46 billion Bybit hack to North Korea’s Lazarus Group, according to a submission made to Arkham Intelligence at 19:09 UTC.  Notably, the finding, which includes an extensive forensic analysis of wallet movements and test transactions, has been shared with Bybit’s security team to support its ongoing investigation. BREAKING:…

Societe Generale-FORGE (SG-FORGE), a subsidiary of Societe Generale [a top commercial bank in France], has announced the expansion of its euro-backed stablecoin (EURCV) to the Stellar blockchain.  Notably, the move aims to enhance accessibility, speed, and efficiency for financial institutions and businesses leveraging digital assets. The decision aligns with the company’s multichain strategy, integrating the…

Russia’s bitcoin mining ban has reduced Siberia’s power grid strain, freeing up 300 MW and preventing outages. Learn how restrictions impact energy stability. Bitcoin Mining Ban Improve Energy Stability The Russian government’s ban on bitcoin mining has eased the strain on the Siberian power grid, preventing power shortages in a region prone to harsh winters.…