Following the recent theft of $1.4B from Bybit’s reserves, the exchange has launched “Lazarus Bounty.” The bounty tracking platform aims to recruit the global crypto community to aid in the recovery of the stolen funds. The Bybit hack is said to have been perpetuated by the same group of North Korean-backed hackers responsible for the $620 million Ronin Network exploit in 2022. Now, the crypto exchange has gone on the offensive to deal with the group as best as it can, at least until law enforcement comes up with a more permanent solution. Bybit introduces the Lazarus Bounty platform Bybit’s Lazarus Bounty platform , named after the infamous North Korean hacking group believed to be responsible for the breach, is its latest effort to retrieve the cryptocurrency it lost. The North Korean hacking group was linked to the crime by popular blockchain investigator, ZachXBT. Arkham made a post on its X account stating that ZachXBT had “submitted definitive proof” linking the Lazarus group to the attack. The submission was shared with the Bybit team to aid their investigation into the matter. The Lazarus Group has a documented history of targeting cryptocurrency platforms and pulling off large scale heists. The group has been involved in other high profile incidents including the $620 million theft from the Ronin Network in March 2022 and a $41 million theft from Stake.com in September 2023. The methods and scale of these attacks have similar patterns with that of the Bybit incident, giving even more validity to ZachXBT’s accusation. Arkham continued to monitor the activity of the hacker’s account across the cryptocurrency network. “The Bybit Hacker is making 2-3 transactions per minute, and stops every 45 minutes for a 15 minute break. They move ETH from one address at a time, before moving onto the next one,” the blockchain data tracking platform said. On-chain sleuths continue to track the Bybit hacker’s transactions. Source: Arkham Intelligence . Bybit built the Lazarus bounty platform in two days due to the urgency of the situation. Ben Zhou, Bybit’s CEO, mentioned on X that a newer version of the site will be released soon as it makes more improvements to make the site look and function better. He also stated his openness to suggestions and feedback. We only pre entered some of your findings , which might not be full, if you have more, please help to submit a bounty on the site, or send to me through dm, really appreciate your help all the way. We want to give you the full credits for your hard work. The site was built in 2… — Ben Zhou (@benbybit) February 25, 2025 The Lazarus bounty platform serves as a centralized hub for cybersecurity experts, blockchain analysts, and ethical hackers to collaborate on a global scale. Each of these individuals can come together through the platform to track and recover the stolen assets. There’s also the attractive 10% incentive that would make anyone willing to help. 10% of the stolen $1.4B would amount to a whopping $140M, the largest bounty in the history of cryptocurrency. The 10% is split 50:50 between individuals that successfully freeze the stolen funds and those who contribute by helping trace the funds. Individuals can become bounty hunters by connecting their wallets on the site and helping to trace the fund. When a submitted trace leads to some of the funds being frozen the 5% bounty is paid upfront. Bybit also introduced a blacklisted wallet API that provides a continuously updated list of wallet addresses identified as suspicious or associated with the hack, enabling security pros and other cryptocurrency platforms to monitor and or prevent transactions involving these addresses. The aftermath of the Bybit heist On February 21, 2025, Bybit experienced a security breach during a routine transfer from its cold wallet to a warm wallet. Hackers exploited this process, seizing control of the cold wallet and siphoning 401K ETH, valued at around $1.5B, to an unknown address. This incident is now recognized as the largest cryptocurrency heist in history. Despite the significant loss, Bybit’s CEO, Ben Zhou, reassured the platform’s users of the company’s solvency. He stated that all client assets remained backed 1:1 and that wallets unaffected by the security breach and withdrawals from the platform would continue to operate normally. Bybit is actively collaborating with blockchain forensic analysts to trace the stolen funds, and so far, the exchange has been successful in recovering some of the lost funds. The mETH, Mantle, and SEAL teams successfully recovered 15K cmETH tokens worth around $43M. First recovery in the ByBit hack. ~$43m (15,000 cmETH) has been clawed back from the hacker. I saw the recovery possibility soon after the hack and SEAL connected me with Mantle/mETH team who made it happen. Huge shoutout to SEAL, Mantle, and mETH teams for their quick action. — Mudit Gupta (@Mudit__Gupta) February 22, 2025 Tether CEO Paolo Ardoino announced that his company froze 181K USDT connected to the hack as well. Bybit has also introduced a bounty program to aid the recovery of the stolen funds. The exchange is offering up to 10% of the recovered amount to ethical hackers who assist in the retrieval of the stolen cryptocurrency. Security professionals monitoring the situation have received thousands of tips about the hack and the hacker’s efforts to split up the loot. Bybit is also working with law enforcement agencies in Singapore and is in discussions with the Ethereum Foundation about potential solutions. Several cybersecurity firms and blockchain security teams such as Mandiant, Verichain ZeroShadow, and Chainalysis, to name a few, joined in the effort to trace bad actors and prevent the hackers from laundering the funds. Crypto exchanges such as Binance, Coinbase, and Bitget, along with blockchain networks including Polygon, Arbitrum, Optimism, and AVAX, are working to restrict the movement of the stolen assets. To prevent future security vulnerabilities and incidents, Bybit has committed to a comprehensive review and enhancement of its security infrastructure. This review entails implementing advanced authentication measures, conducting regular security audits, and educating its users on best practices to safeguard their assets. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Robinhood’s stock declined on Feb. 25, but chair and CEO Vlad Tenev remains confident. In an interview on “Bloomberg Crypto” with Sonali Basak and Tim Stenovec, Tenev said, “The business has been doing tremendously well.” He pointed to strong fourth-quarter 2024 results, highlighting a record $1 billion in revenue and $50 billion in customer deposits for the year. When asked about the market correction tracked by Bloomberg’s Magnificent Seven index, Tenev suggested the dip was temporary. Last week’s post-earnings rally faded into today’s broader market downturn, with Bitcoin ( BTC ) slipping below $87,000. Robinhood shares fell by 8%, closing at $45.92 but still up 16% since the start of the year. The stock dip followed a wider market slump, but Tenev did not attribute it to any specific cause beyond normal fluctuations. Despite the decline, Tenev remains optimistic about user engagement. “Our customers…have a long-term perspective on these things,” he said, noting that many see market declines as opportunities to buy technology stocks and cryptocurrencies like bitcoin at lower prices. You might also like: SEC bins Robinhood probe amid crypto oversight shift Trading stays active Tenev also noted that volatility benefits Robinhood . Active traders continue using tools like the new Robinhood Legend platform, which has generated $50 million in annual revenue since its launch. As major technology stocks enter correction territory, this trading activity could support steady revenue growth for the platform. You might also like: Robinhood aims to launch crypto offerings in Singapore by late 2025
In the rapidly changing crypto landscape, keeping up with the latest trends is crucial. Recent developments have highlighted the dynamic nature of the market. For instance, EOS experienced a significant one-day percentage loss of 13.63% on February 24, 2025, with intraday highs of $0.621921 and lows of $0.526266. Similarly, Stellar (XLM) saw an 11.90% decrease, trading between $0.323777 and $0.279481. These fluctuations underscore the importance of informed investment choices. Amidst these market shifts, Qubetics ($TICS) emerges as a beacon of innovation, addressing real-world challenges that its predecessors have struggled to overcome. By focusing on blockchain interoperability and offering a suite of decentralized services, Qubetics is poised to meet the future demands of digital finance and blockchain technology. Qubetics: Pioneering Blockchain Qubetics is revolutionizing the crypto landscape by serving as a Layer 1 Web3 multi-chain aggregator. This platform seamlessly connects major blockchain networks like Bitcoin, Ethereum, and Solana, enabling users to perform cross-chain transactions with ease. One standout feature of Qubetics is its Non-Custodial Multi-Chain Wallet. This wallet empowers users to manage assets across different blockchains without relinquishing control to third parties. For example, a business operating in Argentina can effortlessly transfer funds from Ethereum to Solana, optimizing transaction fees and speeds. Professionals in Brazil can securely manage their diverse crypto portfolios, ensuring they have full autonomy over their assets. In partnership with 1inch, a leading decentralized exchange aggregator, Qubetics enhances its platform’s liquidity and trading efficiency. This collaboration allows users to access the best token swap rates across multiple DEXs, ensuring they receive optimal value for their trades. Imagine an enterprise in Chile needing to convert large sums of Bitcoin to Ethereum; with Qubetics’ integration, they can achieve this seamlessly and at the most competitive rates. The numbers speak volumes about Qubetics’ traction in the market. As of February 25, 2025, during its 23rd crypto presale stage, Qubetics has raised over $14.1 million, with more than 21,300 token holders acquiring approximately 489 million $TICS tokens. The current token price stands at $0.0888, reflecting growing confidence and interest from the crypto community. SWFT The Secure Web3 Financial Transactions (SWFT) feature within Qubetics ensures fast, secure, and low-cost transactions across multiple blockchains. Unlike traditional payment systems, which involve long processing times and high fees, SWFT facilitates instant payments, making it highly beneficial for merchants and online service providers. Whether a retailer in El Salvador wants to accept payments in Bitcoin but settle in Ethereum or a freelancer in Cuba needs to receive stablecoins without expensive conversion rates, Qubetics’ SWFT bridges these gaps seamlessly. EOS: A Platform for Decentralized Applications EOS is a blockchain platform designed to support decentralized applications (dApps) with a focus on scalability and user experience. Its architecture allows developers to build dApps that can handle thousands of transactions per second without prohibitive fees. This capability is particularly beneficial for industries requiring high-speed transactions, such as gaming and social media platforms and becoming Top Cryptos to Buy This Month. Despite its technological advantages, EOS has faced recent market challenges. On February 24, 2025, EOS experienced a 13.63% decline, with prices ranging between $0.621921 and $0.526266. This significant drop marks the largest one-day percentage loss since that date. Investors are closely monitoring the platform’s developments and market strategies to assess its potential for recovery and growth. Stellar: Facilitating Cross-Border Transactions Stellar (XLM) is a blockchain-based platform aimed at simplifying cross-border payments. By connecting financial institutions and payment systems, Stellar enables quick, reliable, and low-cost international money transfers. This functionality is invaluable for remittances and businesses operating in multiple countries, as it reduces the time and cost associated with traditional banking systems. Recently, Stellar’s market performance has been under scrutiny. As of February 25, 2025, XLM is trading at $0.28117, reflecting an 11.90% decrease from the previous close, with intraday highs of $0.323777 and lows of $0.279481. Despite this downturn, analysts remain optimistic, projecting a potential surge of up to 16% in the near future, driven by bullish on-chain indicators. This optimism is fueled by Stellar’s ongoing partnerships and initiatives aimed at expanding its global reach and utility. Conclusion In the dynamic world of cryptocurrencies, Qubetics, EOS, and Stellar each offer unique solutions to pressing challenges. Qubetics stands out with its focus on blockchain technology and decentralized services, positioning itself as a frontrunner in addressing the evolving needs of digital finance. EOS and Stellar continue to contribute to the ecosystem with their respective strengths in dApp support and cross-border transactions. For investors seeking Top Cryptos to Buy This Month , these platforms present compelling cases. However, it’s essential to conduct thorough research and consider market trends before making investment decisions. For More Information: Qubetics: https://qubetics.com Telegram: https://t.me/qubetics Twitter: https://x.com/qubetics FAQs What is Qubetics, and how does it address real-life problems? Qubetics is a Layer 1 Web3 multi-chain aggregator that connects major blockchain networks, enabling seamless cross-chain transactions. It offers solutions like a Non-Custodial Multi-Chain Wallet and partnerships with platforms like 1inch to enhance liquidity and trading efficiency. How does EOS support decentralized applications? EOS is designed to facilitate the development and deployment of decentralized applications (dApps). Its architecture allows for high scalability, enabling thousands of transactions per second without significant fees. What makes Stellar suitable for cross-border transactions? Stellar connects financial institutions and payment systems, allowing for quick, low-cost international money transfers. This makes it ideal for businesses operating across multiple countries and individuals sending remittances. Why is Qubetics gaining traction in the crypto market? Qubetics has raised over $14.1 million in its presale and offers cutting-edge blockchain solutions such as SWFT payments and multi-chain wallet services. Is now a good time to invest in these cryptocurrencies? While market conditions fluctuate, Qubetics’ presale momentum, EOS’s dApp capabilities, and Stellar’s financial integrations make them top contenders. Investors should always conduct their own research before making financial decisions. The post Top Cryptos to Buy This Month: Qubetics Hits $14.1M, While EOS & Stellar Lead in Speed & Scalability appeared first on TheCoinrise.com .
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As Cardano and Solana face market pressure, investors are pivoting to Rollblock, a breakout gaming altcoin. Table of Contents Rollblock: The gaming platform set on disrupting the industry Cardano developers work on on-chain upgrades Solana loses 36% after meme launch scandals Conclusion The crypto market is firing again on all cylinders, and investors are scouring the charts for the next big opportunity. While Cardano (ADA) and Solana (SOL) remain popular plays, traders have recently been shifting to the transformative casino Rollblock (RBLK). Analysts predict a potential 50x rally for Rollblock, making it a must-watch token for savvy investors in 2025. Rollblock: The gaming platform set on disrupting the industry Rollblock is shaking up the online gaming sector with its fully transparent, blockchain-powered ecosystem. December saw an incredible 600% surge in new users and $1.75 million in wagered bids being placed. The gaming platform is currently live and generating massive revenue, with over 7,000 games and the launch of a new sports prediction league. The process of onboarding recently got even easier thanks to its integration of Apple Pay, Google Pay, and Mastercard to enable fiat deposits. Rollblock securely encrypts all of its user transactions onto the Ethereum blockchain to ensure that everything is fully verifiable and that there can be no hint of bet manipulation. What really makes Rollblock unique is its deflationary revenue-sharing model. The platform takes up to 30% of its revenue to buy back RBLK tokens on the open market, with 60% of these tokens burned forever and 40% distributed as staking rewards that offer up to 30% APY for holders. With a string of major exchange listings on the horizon in the coming months, stage 10 tokens are selling fast at $0.06. Investors can also take advantage of a limited-time 50% bonus on all RBLK purchases this week. You might also like: Is Solana heading back below $100? Why XRP, RBLK could be better alternatives Cardano developers work on on-chain upgrades Cardano has fallen by 7.63% the past week, currently trading at $0.6907. This brings Cardano’s monthly candle to a woeful 28.70% decline as the crypto was unable to hold its price above $1 in recent weeks. Despite this disappointing price performance, Cardano has continued to innovate and its upcoming Ouroboros Leios upgrade will introduce high frequency blocks and enhance the chain’s scalability and speed. Founder Charles Hoskinson has stressed that developers are working around the clock to ensure a successful launch, which could prepare the price of Cardano to reach as high as $3 in the coming months. Solana loses 36% after meme launch scandals Solana has also faced challenging trading conditions recently, falling by 14% this week to reach $145.50. In the past month, Solana is down by a worrying 40.46% as huge numbers of long-term holders have been selling following the recent scandal around insider trading. Meme coin launches on Solana, including Melania and Libra, were the victims of sniper bots enabled by the teams responsible for launching the tokens. While the dust settles on this controversy, Solana could well retest the resistance at $150. Conclusion While Cardano and Solana continue to battle downward momentum, Rollblock offers an alternative, with investors jumping in before the next price jump. For more information on Rollblock, visit the website or socials . Read more: Solana news: SOL gets oversold as network woes mount Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
The future of manufacturing is taking an exciting turn as Apptronik, a pioneering robotics firm based in Austin, Texas, announces a groundbreaking partnership that could redefine how robots are made. Imagine robots building robots – it’s no longer science fiction! Apptronik’s latest collaboration with manufacturing giant Jabil marks a significant stride in this direction, just weeks after securing a massive $350 million funding round to ramp up production of their flagship Apollo robot. But what does this mean for the future of robotics and automation? Let’s dive in and explore this fascinating development. Why is Apptronik’s Jabil Partnership a Game Changer for Humanoid Robots? Following closely on the heels of a March 2024 pilot program with Mercedes-Benz, Apptronik’s deal with Jabil signifies a doubling down on real-world testing and, crucially, manufacturing collaboration. While the Mercedes-Benz partnership is still in the pilot phase, the Jabil agreement goes a step further. Beyond deploying humanoid robots on Jabil’s factory floors for assessment, this partnership is designed to evolve into a full-fledged manufacturing alliance. Here’s the exciting part: once Apptronik’s Apollo robot proves its commercial viability within Jabil’s operations, Jabil will transition into a manufacturing partner, producing Apollo robots directly within their own factories. This sets the stage for a potentially revolutionary outcome – humanoid robots contributing to the creation of… more humanoid robots ! It’s a cyclical vision that could dramatically accelerate the growth and adoption of humanoid robotics across industries. What Tasks Will Apollo Humanoid Robots Perform at Jabil? For now, Apptronik is keeping specific deployment numbers under wraps. However, they’ve indicated that the pilot phase will involve an undisclosed number of Apollo systems tackling “simple, repetitive intralogistics and manufacturing tasks” within Jabil’s facilities. These tasks include: Sorting Parts: Precisely categorizing and organizing components within the manufacturing environment. Transporting Materials: Moving parts and materials efficiently across the factory floor, streamlining workflows. This real-world validation is critical. Each task Apollo successfully completes on Jabil’s factory floor brings it closer to proving its worth in large-scale manufacturing . The better Apollo performs, the faster it can transition from pilot project to an integral part of a production line – potentially one that will eventually produce more Apollos. The Race for Humanoid Robotics Leadership: Who are Apptronik’s Competitors? Apptronik is not alone in the quest to bring humanoid robots into industrial settings. They are part of a dynamic and competitive field that includes other notable companies like: Agility Robotics: A key player, and notably, the only one among the frontrunners to have moved beyond pilot phases with their robot deployments. Boston Dynamics: Famous for their advanced and dynamic robots, though their industrial applications are still developing. Figure: A well-funded startup rapidly making strides in humanoid robot development. Tesla: Leveraging its automotive and AI expertise to develop Optimus, their own humanoid robot project. While competition is fierce in this nascent robotics category, Apptronik possesses several advantages. Their substantial funding is a major boost, but so is their deep-rooted experience. Originating as a spin-off from the University of Texas, Apptronik boasts a decade of expertise in humanoid robotics , including their involvement with NASA’s Valkyrie robot project. This legacy provides a strong foundation of knowledge and technical skill. The Power of AI in Apptronik’s Humanoid Robots Adding another layer of sophistication to their approach, Apptronik announced a significant partnership with Google DeepMind in December. This collaboration focuses on developing advanced AI specifically tailored for humanoid systems. Integrating cutting-edge AI is crucial for enabling humanoid robots to perform complex tasks, adapt to dynamic environments, and ultimately, work alongside humans more effectively. By embedding sophisticated AI , Apptronik aims to create humanoid robots that are not just physically capable but also intelligent and adaptable – essential qualities for thriving in the diverse and often unpredictable world of manufacturing . What’s the Timeline for Self-Manufacturing Humanoid Robots? The vision of humanoid robots building themselves is undeniably compelling, but Apptronik emphasizes that it’s still a future prospect. The company is targeting 2026 as the year they plan to begin commercial manufacturing of Apollo robots. The Jabil partnership is a critical stepping stone in making this timeline a reality. The pilot programs and the subsequent manufacturing collaboration with Jabil are all geared towards rigorous testing, refinement, and scaling up production. The path to humanoid robots autonomously contributing to their own manufacturing process is iterative, requiring careful validation at each stage. However, Apptronik ‘s strategic partnerships and technological advancements are clearly laying the groundwork for this exciting future. Key Takeaways: Apptronik, Jabil, and the Future of Robotics Manufacturing Let’s recap the key points of this exciting development: Strategic Partnership: Apptronik partners with Jabil, a manufacturing powerhouse, for pilot testing and future robot production. Self-Manufacturing Vision: The ultimate goal is for Apollo humanoid robots to participate in their own manufacturing . Real-World Validation: Apollo robots will perform practical tasks at Jabil facilities to prove their capabilities in manufacturing environments. Competitive Landscape: Apptronik is a strong contender in the humanoid robotics race, backed by funding, experience, and AI expertise. Timeline to Commercialization: Apptronik aims to begin commercial manufacturing of Apollo robots by 2026. The Bold Future of Humanoid Robotics is Now Apptronik’s partnership with Jabil is more than just a business deal; it’s a bold step towards realizing a future where humanoid robots are not just working in factories, but also building the factories – and themselves. As robotics technology advances and AI becomes more integrated, the vision of self-replicating humanoid robots , once confined to the realm of science fiction, is inching closer to reality. Apptronik is at the forefront of this revolutionary journey, and the world is watching with anticipation. To learn more about the latest AI trends in robotics , explore our articles on key developments shaping AI features and institutional adoption.
The SEC is holding a closed meeting to discuss XRP investment products. Grayscale’s XRP fund conversion is undergoing a 240-day SEC review. Continue Reading: SEC’s Upcoming Meeting Sparks Anticipation for XRP Developments The post SEC’s Upcoming Meeting Sparks Anticipation for XRP Developments appeared first on COINTURK NEWS .
Long speculated and finally confirmed, gaming giant Activision said that Call of Duty: Black Ops 6 was created using generative AI.
Hold onto your hats, crypto enthusiasts! The world of digital assets is buzzing with news of a major development at Bybit, a leading cryptocurrency exchange. Just after weathering a staggering $1.5 billion hack, Bybit has received a lifeline in the form of a colossal $600 million Ethereum Deposit from Mirana Ventures. Let’s dive into this unfolding story and understand what it means for Bybit and the wider crypto landscape. Decoding the $600M Ethereum Deposit: What Happened? Imagine waking up to news of a massive security breach – that’s the reality Bybit faced. Reports from Arkham Intelligence revealed that a whopping $1.5 billion was compromised in a recent hack. In the wake of this alarming event, Mirana Ventures , a firm reportedly linked to Bybit’s co-founders, stepped in with a significant injection of capital. This wasn’t just pocket change; it was a substantial $600 million Ethereum Deposit , aimed at shoring up Bybit’s ETH reserves after the security incident. Here’s a breakdown of the key events: The Hack: Bybit experienced a massive hack estimated at $1.5 billion. Source of Funds: Mirana Ventures deposited $600 million in ETH to Bybit. Funding Method: Mirana Ventures reportedly funded this deposit by strategically selling off $500 million in Bitcoin (BTC) and $100 million in USDT. Bybit’s Response: The exchange has successfully addressed its Ethereum shortfall and implemented measures, including temporarily slowing down withdrawals, to manage the situation. Attribution: Initial reports suggest the notorious North Korean hacking group, Lazarus Group , is linked to this sophisticated attack, which specifically targeted ETH-based tokens. Bridge Loan: To further safeguard user assets amidst the crisis, Bybit reportedly secured a bridge loan, as reported by The Block. Why is the Mirana Ventures Ethereum Deposit Crucial for Bybit? The prompt and decisive action by Mirana Ventures to make this substantial Ethereum Deposit is more than just a financial transaction; it’s a strategic move with several critical implications: Restoring Confidence: In the volatile world of crypto, confidence is paramount. A major hack can erode user trust overnight. This Ethereum Deposit acts as a strong signal to the market and Bybit users that the exchange is financially robust and committed to rectifying the situation. Addressing the Shortfall: The hack resulted in a significant drain on Bybit’s ETH holdings. The $600 million Ethereum Deposit directly addresses this shortfall, ensuring Bybit can meet its obligations to users and maintain operational stability. Liquidity Assurance: By securing its ETH reserves, Bybit reinforces its liquidity position. This is crucial for maintaining smooth trading operations and processing withdrawals, even during periods of market stress. Mitigating Further Damage: Promptly addressing the financial fallout from the Bybit Hack helps to contain the damage and prevent a potential cascading effect of user panic and further withdrawals. The Shadow of the Lazarus Group: Understanding the Crypto Security Threat The alleged involvement of the Lazarus Group in the Bybit Hack casts a long shadow and highlights the escalating sophistication of cyber threats in the crypto space. Lazarus Group , a notorious North Korean state-sponsored hacking organization, has been linked to numerous high-profile cyberattacks, often targeting financial institutions and, increasingly, cryptocurrency platforms. This incident serves as a stark reminder of the challenges in Crypto Security : Advanced Persistent Threats (APTs): Groups like Lazarus Group represent APTs – highly skilled and well-resourced adversaries who can orchestrate complex and persistent attacks. Targeting Crypto Assets: Cryptocurrencies, with their decentralized nature and substantial market value, have become prime targets for cybercriminals seeking financial gain. Evolving Tactics: Hacker groups are constantly evolving their tactics, making it essential for exchanges and crypto platforms to continuously upgrade their security measures. Importance of Vigilance: The Bybit Hack underscores the critical need for constant vigilance, robust security protocols, and proactive threat detection within the crypto industry. Navigating Crypto Security in a Risky Landscape: Actionable Insights The Bybit Hack and subsequent Ethereum Deposit saga offer valuable lessons for crypto users and industry players alike. Here are some actionable insights: Due Diligence is Key: Choose cryptocurrency exchanges and platforms with a proven track record of security and transparency. Research their security protocols and incident response plans. Diversification of Holdings: Avoid keeping all your crypto assets on a single exchange. Diversify your holdings across multiple platforms and consider using hardware wallets for long-term storage. Stay Informed: Keep abreast of the latest Crypto Security news and best practices. Follow reputable security experts and news sources to stay ahead of potential threats. Enable Security Features: Utilize all available security features offered by exchanges, such as two-factor authentication (2FA), withdrawal whitelisting, and anti-phishing measures. Be Wary of Phishing: Lazarus Group and other threat actors often employ phishing tactics. Be extremely cautious of suspicious emails, links, and messages requesting your login credentials or private keys. The Road Ahead for Bybit and Crypto Exchanges: Enhanced Security Measures The Bybit Hack will undoubtedly serve as a catalyst for enhanced Crypto Security measures across the industry. Exchanges are likely to invest even more heavily in: Advanced Threat Detection Systems: Implementing AI-powered systems to detect and respond to sophisticated cyber threats in real-time. Regular Security Audits: Conducting frequent and rigorous security audits by independent cybersecurity firms to identify and address vulnerabilities. Collaboration and Information Sharing: Increased collaboration among exchanges and cybersecurity agencies to share threat intelligence and best practices. User Education: Investing in user education programs to raise awareness about Crypto Security risks and empower users to protect themselves. Conclusion: Resilience and the Future of Crypto Security The recent events at Bybit, from the shocking Bybit Hack to the reassuring Ethereum Deposit from Mirana Ventures , paint a picture of both vulnerability and resilience within the cryptocurrency ecosystem. While the $1.5 billion hack is a stark reminder of the ever-present cyber threats, Bybit’s swift response and the financial backing from Mirana Ventures demonstrate the industry’s capacity to weather storms and adapt. The focus now shifts to even stronger Crypto Security protocols and a renewed commitment to safeguarding user assets. This incident, though concerning, ultimately strengthens the resolve of the crypto community to build a more secure and trustworthy digital financial future. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum institutional adoption.
Tether CEO Paolo Ardoino says USDT will help to successfully keep the US dollar on top of the global financial power structure. In a new post to the social media platform X, Ardoino makes his argument for why USDT is the “most successful tool” for the US dollar maintaining its hegemony. “Tether built, over the last decade, the widest physical and digital distribution network, spacing from thousands of kiosks in Africa and South America to digital remittances platforms, from payment backbones to institutional tools. Every single day our teams and portfolio companies are with their boots on the ground in countless areas within developing countries, helping communities and growing utilization, trust and education into USDT and by reflection into the US economy.” Ardoino notes that USDT is held by more than 400 million people, growing at a pace of 35 million new wallets per quarter, or 140 million new wallets per year. He also says USDT is doing especially well in developing countries. Tether’s success, says Ardoino, has come at the price of a target on their back. “While our competitors’ business model should be to build a better product and even bigger distribution network, their real intent is ‘Kill Tether.’ Every single business or political meeting that they have culminates with this intent. While might seem an overstatement, it’s a fact and it’s being reported independently by hundreds of people inside and outside the digital assets industry in touch with the US administration.” The CEO frames any competitors’ attacks on the stablecoin firm as an attack on the sovereignty of the US dollar. And according to Ardoino, Tether is the 18th largest US dollar holder by the size of US treasuries. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Tether CEO Paolo Ardoino Says USDT Is the ‘Most Successful Tool for US Dollar Hegemony’ appeared first on The Daily Hodl .
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