In recent events that sent shockwaves through the crypto sphere, Bybit confirmed that the staggering $1.4 billion hack did not compromise its internal systems. Instead, the breach originated from a vulnerability in a developer machine utilized by Safe, a decentralized wallet solution. Forensic analyses conducted by Bybit along with blockchain security experts such as Sygnia
Exchanges
In a noteworthy move following a significant security breach, Bybit has successfully repaid a substantial loan of 40,000 Ethereum, valued at approximately $99.98 million, that it had secured from competitor Bitget. The repayment, confirmed on February 25, underscores not only Bybit’s financial resilience but also reflects the trust shared between these two entities in the
OKX, a prominent player in the cryptocurrency exchange market, has made headlines for its recent $500 million settlement with U.S. authorities. This settlement arose from significant regulatory violations, including operating an unregistered money-transmitting business and a failure to implement necessary anti-money laundering safeguards. CEO Star Xu’s acknowledgment of past compliance issues underscores the exchange’s recognition
In a decisive move reflecting the escalating geopolitical tensions surrounding the Ukraine conflict, the European Union (EU) announced its 16th sanctions package aimed at curbing Russia’s ability to leverage its financial systems. Among the targeted entities is Garantex, a cryptocurrency exchange based in Russia, identified by the EU as a significant facilitator of Russia’s efforts
Citadel Securities, a well-known entity in traditional market-making, is reportedly setting its sights on the burgeoning cryptocurrency market. According to a Bloomberg News report from February 24, the firm is gearing up to provide liquidity on some of the most prominent exchanges, including Coinbase, Binance, and Crypto.com. This potential foray into the cryptocurrency landscape not
The cryptocurrency landscape is no stranger to scandals, and the recent upheaval surrounding OX.FUN is a stark reminder of the unpredictable nature of digital asset exchanges. Linked to the infamous Three Arrows Capital — overseen by Su Zhu and Kyle Davies, who are currently embroiled in bankruptcy proceedings — OX.FUN faces allegations of financial misconduct
In an era where digital currencies are rapidly gaining traction, security vulnerabilities remain a significant concern. The recent breach at ByBit, one of the leading cryptocurrency exchanges, serves as a stark reminder of these risks. The platform was targeted in a sophisticated cyberattack that resulted in the theft of approximately $1.5 billion in Ethereum (ETH)
The recent bankruptcy of FTX, once a notable player in the cryptocurrency exchange market, has raised significant concerns for its vast network of creditors worldwide. As Sunil Kavuri, a representative of the FTX Creditors’ group, outlines, the exchange’s current focus lies in devising solutions to compensate creditors scattered across various countries, including Russia, China, Egypt,
In the evolving landscape of cryptocurrency exchanges, Kraken has recently highlighted a substantial uptick in data requests from law enforcement and regulatory bodies in 2024. Their latest transparency report indicates that a total of 6,826 requests were submitted, marking an impressive 38.6% increase compared to the previous year. This surge underscores the intensifying scrutiny that
In recent years, the cryptocurrency landscape has experienced dynamic shifts, especially with the rise of memecoins—tokens often inspired by internet culture and memes. These digital assets, while entertaining to many, also harbor significant risks, particularly concerning insider trading. Recently, Brian Armstrong, CEO of Coinbase, voiced his alarm over this issue, highlighting the potential for legal
