In a significant gathering on February 26th, US President Donald Trump convened the inaugural Cabinet meeting of his second administration, welcoming notable figure Elon Musk, Secretary of Efficiency, despite his
The Berachain Foundation has made a significant leadership change, appointing Paul O’Leary as the new Chief Technology Officer (CTO). Previously, O’Leary held the CTO position at Polygon Labs, bringing with
Market volatility continues to plague the cryptocurrency sector as significant downturns in major assets signal a potential shift in investor sentiment. Recent data shows that selling pressure across major cryptocurrencies
Bank of America is planning a cryptocurrency launch linked to the U.S. dollar. Continue Reading: Bank of America Aims to Launch New Cryptocurrency in Response to Legal Developments The post Bank of America Aims to Launch New Cryptocurrency in Response to Legal Developments appeared first on COINTURK NEWS .
Safe{Wallet} has released a statement on Bybit’s targeted. The forensic report left former Binance CEO Changpeng Zhao with more questions than answers, and he heavily criticized them, claiming the report was written in vague language to brush over the issues. According to Safe’s investigation report , the forensic review into the targeted attack by the Lazarus Group on Bybit concluded that this attack targeted the Bybit Safe was achieved through a compromised Safe developer machine. The hack resulted in the proposal of a disguised malicious transaction that saw the hackers draw funds from Bybit’s wallet. According to the report, the forensic audit on external security researchers did not indicate any shortcomings in the Safe smart contracts or source code of the frontend and services. The report also indicated that the Safe team conducted a thorough investigation and has now reinstated Safe on the Ethereum mainnet with a phased rollout. The Safe team has fully rebuilt, reconfigured all infrastructure, and rotated all credentials, ensuring the attack vector is fully eliminated. The Safe frontend remains operational with additional security measures in place. However, the report cautioned users to carry out extreme caution and remain vigilant when signing transactions. CZ criticizes Safe’s forensics report for not being detailed enough I usually try not to criticize other industry players, but I still do it once in a while. 😂 This update from Safe is not that great. It uses vague language to brush over the issues. I have more questions than answers after reading it. 1. What does "compromising a Safe… https://t.co/VxywHyzqXb — CZ 🔶 BNB (@cz_binance) February 26, 2025 The report has received heavy backlash from Binance founder and former CEO CZ. According to CZ, the report is not detailed enough to address all concerns and has gaping holes as to how the occurrence happened. CZ first questioned what “compromising a Safe developer machine” means. He also questioned how the hackers compromised the subject machine and wondered if it was social engineering, a virus, or something else. CZ also expressed concerns about how a developer machine gained access to an exchange account. He asked if some code got remotely deployed from the developer machine straight to the prod. CZ also expressed his concerns about how the hackers bypassed the ledger verification step at multiple signers. He questioned if the signers failed to verify properly or if they did a blind signing. Bybit also embarked on a deep forensics investigation by contracting to blockchain security firms Sygnia and Verichains. The aim of the investigations centered around the three signers’ hosts as a follow-up on the $1.4 billion hack. CZ also questioned if the $1.4 billion was the largest address managed using Safe and why the hackers didn’t target other wallets. CZ also asked what lessons other “self-custody, multi-sig” wallet providers and users can learn from the ordeal. The investigations from Sygnia concluded that the cause of the incident was a malicious code emanating from Safe’s infrastructure. The report concluded that Bybit’s infrastructure was not affected or compromised in any way during the attack. The report highlighted that the investigations will deepen further to confirm the recent findings. Preliminary conclusions from Verichains revealed that the benign JavaScript file of app.safe.global was replaced on February 19th with malicious code aimed at maiming Bybit’s Ethereum Multisig Cold Wallet. Verichains investigators also recommended that further investigations be conducted to confirm the root cause. Lazarus Group reportedly launders Bybit funds via meme coins UAE-based Bybit exchange fell victim to hackers last week, resulting in the loss of $1.5 billion. The exchange’s CEO said the funds were drawn from one of Bybit’s cold multisig wallets. According to onchain data, North Korean hacking collective Lazarus Group, believed to be behind the attack, was observed to have been leveraging memecoins to launder the stolen funds. Cybersecurity researcher ZachXBT reported that Lazarus Group distributed several meme coins on Pump.fun. Binance has also been affected by malicious attacks from cyber criminals. Recently, Hong Kong-based crypto entrepreneur Joe Zhou reported that scammers sent him a message through the usual Binance number where he typically receives his verification codes, telling him his account was accessed from North Korea. Joe Zhou got on a call with the attackers who misled him into sending funds to a different wallet. Zhou managed to act fast and recover most of his funds before the hackers cashed out. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Ethereum (ETH) has seen a flurry of investment activity, especially from notable entities like the ‘7 Siblings’, amidst a recent market downturn. This group, known for its strategic buying, spent
At least market is seeing comeback of volatility
The cryptocurrency market is experiencing significant turbulence this week, with Solana (SOL) facing particularly steep challenges. As the excitement surrounding memecoins wanes, prices have dropped to their lowest levels in several months. Following the historic hack of the ByBit exchange and President Trump’s controversial tariff proposals, the overall crypto market has seen a downturn, with Bitcoin falling 12% in the past week. In contrast, Solana has plummeted 22%, reaching a new five-month low. Solana Struggles As New Data Shows Dramatic Drop As reported by Fortune, the decline in Solana’s value can be attributed to its association with recent celebrity-backed memecoin scandals, particularly the LIBRA incident. This cryptocurrency surged to a nearly $5 billion market cap before crashing, following promotion from Argentine President Javier Milei, whose involvement has sparked outrage and prompted an investigation. Related Reading: Avalanche (AVAX) Overextended—Is A Market Shakeup Imminent? Zach Pandl, head of research at the crypto asset manager Grayscale, noted that this incident has highlighted the volatility and risks associated with memecoins, stating, “The current phase of memecoin trading on Solana is over.” Solana’s rise as the preferred blockchain for memecoin development was largely due to its low transaction costs, high transaction speeds, and user-friendly infrastructure. Platforms like Pump.fun facilitated the rapid creation of cryptocurrencies on Solana, leading to a peak of over 71,000 memecoins launched in a single day. However, this number has since dwindled to just 26,000, according to data from analytics firm Dune. Analysts Warn Of Potential Drop Below $100 While many memecoins lack intrinsic value and are often linked to scams, Pandl suggested that the recent memecoin frenzy had some positive impacts on the Solana ecosystem. “It onboarded users, generated revenue, and helped stress test the Solana blockchain in various ways,” he explained. “In that sense, memecoin trading is one of the many building blocks to developing the next generation of financial infrastructure.” Adding to Solana’s woes, the open interest for Solana futures has declined by 44% over the past month, dropping from an all-time high of $6.39 billion to just $3.57 billion today. This decline indicates a reduction in investor confidence and interest in leveraging Solana positions. Related Reading: Panic Sell? Bitcoin’s $86K Fall Wipes Out $1 Billion In Trades CoinGecko data also shows a similar pattern from investors, as trading volume has dropped 54% in the last 48 hours, representing only $5 billion of Solana’s total market cap of $66 billion. Currently trading at $134, analysts have identified this price point as a crucial support zone in the ongoing downtrend. According to Crypto General, if this support fails to hold, the next support level could fall below $100, representing a drop of more than 65% from Solana’s all-time highs. Featured image from DALL-E, chart from TradingView.com
MARA Holdings is strategically positioning itself to capitalize on the burgeoning intersection of artificial intelligence (AI) and Bitcoin mining, signaling a decisive shift in its operational focus. The company has
Eric Trump backs the idea of buying the dip which aligned with '7 Siblings' who purchase ETH as price dropped to around $2400.