Safe Wallet, Bybit’s security partner, upgraded its infrastructure following the Bybit Hack, which cost the exchange $1.46 billion.  Safe (Wallet), a multi-signature wallet provider, announced that it was temporarily removing the Native Ledger Integration, the exact feature that the hackers compromised.  Phased rollout within the next 24 hours The Safe{Wallet} team is working diligently…

The U.S. Securities and Exchange Commission (SEC) is scaling back its cryptocurrency enforcement efforts, signaling a major shift in regulatory approach. With recent legal retreats and internal restructuring, former SEC enforcement chief John Reed Stark now predicts the agency will abandon its appeal in the high-profile ipple case. SEC Pulling Back on Crypto Cases Stark,…

Russia’s Supreme Court is pushing to classify cryptocurrency as property in penal cases, aiming to strengthen law enforcement’s ability to track, freeze, and confiscate illicit digital assets. Russia Supreme Court Seeks Legal Clarity for Crypto in Criminal Cases Russia’s Supreme Court is advancing efforts to classify cryptocurrency as property in criminal cases, a move that…

Award-winning Sleuth ZachXBT has revealed a serious fraud problem on Coinbase, the largest crypto exchange in the United States.  The onchain Security Expert whose work has helped recover millions of lost crypto assets believes the Coinbase exchange is quickly becoming a fraud hotbed.  ZachXBT revealed that Coinbase Users lose $150 million to theft only. He…

Former Safemoon CTO Thomas “Papa” Smith has pleaded guilty to fraud charges in connection to the $8 billion crypto project’s collapse. The case highlights one of DeFi’s biggest scandals. Guilty Plea Marks Major Development in Safemoon Scandal Thomas “Papa” Smith, former chief technology officer of the now-defunct Safemoon cryptocurrency project, has pleaded guilty to fraud…

Hong Kong-based stablecoin bank [Neobank] Infini experienced a major security breach on February 23 resulting in the theft of $49.5 million in USD Coin (USDC). The attack comes just days after the $1.4 billion hack of cryptocurrency exchange Bybit. Hacker Exploits Private Key to Drain Funds According to blockchain security firm PeckShield, the attacker gained…

Bybit has fully restored its Ethereum (ETH) reserves after a devastating $1.5 billion hack on February 21, according to CEO Ben Zhou.  Notably, the exchange plans to release an audited proof-of-reserve (PoR) report to confirm that client assets are once again held at a 1:1 ratio using a Merkle tree verification system. Latest Update: Bybit…

The SEC has dropped its investigation into OpenSea, opting not to pursue enforcement action against the NFT marketplace. This decision follows a similar move regarding Coinbase, signaling a shift in the agency crypto enforcement strategy. NFT Marketplace No Longer Faces SEC Scrutiny Amid Regulatory Changes The U.S. Securities and Exchange Commission (SEC) has reportedly closed…

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…