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…

Bybit, the second-largest crypto exchange in the industry, has lost $1.46 billion to a sophisticated attack on its cold wallet.  Ben Zhou, the CEO of the Exchange, confirmed the attack on his X page, sharing details of the hack and revealing that the hack took place during a transfer from Bybit’s ETH multi-sig wallet to…

Sam Bankman Fried (SBF), the Acerated Founder of the Now-Defunct FTX Exchange, revealed that the Exchange was never bankrupt but suffered a liquidity crisis.  In an interview from Prison, SBF  stated that the exchange had sufficient assets to repay all its customers. However, the repayment process was hindered by a Market Panic resulting from a liquidity…

American Rapper Kanye West is reportedly set to launch a Memecoin a few days after revealing how prominent figures have received offers to use their brand to promote Rug pull schemes.  Coindesk announced the development, citing three sources close to the project and revealing that the ‘YZY’ token was designed to bypass brands like Shopify,…

The United States Securities and Exchange Commission, under acting chairman Mark Uyeda, launched a special unit to combat fraud in Crypto and other Areas.  The Special unit called the Cyber and Emerging Technologies Unit (CETU) is tasked to combat fraud in various areas, including Blockchain, Social media and the Dark Web.  The announcement was made…

Bitcoin ETFs experienced a second day of no inflows, losing $64.1 million in the process.  The 11 Bitcoin ETFs recorded a net outflow of $64 million from 4 ETF products, while the rest recorded no transaction.  Over the past two weeks, the Bitcoin ETF products have recorded more net Outflows than inflows reflecting the bearish…

Vitalik Buterin, co-founder of the Ethereum Blockchain, shared an emotional message lamenting the growing criticism of the Ethereum project.  The Ethereum Co-founder and a leading advocate for a utility-focused industry posted a message on Tako, a Chinese tech-based Social media platform.  He affirmed his advocacy for a utility-focused industry while getting emotional about the growing…

Ho Kai Xin, a former payroll manager with Bybit, was handed a six-week jail sentence for flouting court orders following a $4.6 million theft from the exchange.  Ho was ordered in 2022 by a civil court not to use the funds she lifted from Bybit, but the 32-year-old woman spent $840,000 from the funds on…

Tether, the largest Digital assets company by Revenue, signed a Memorandum of Understanding (MOU) with the Government of the Republic of Guinea.  The MOU between the two parties focuses on advancing blockchain and peer-to-peer technologies in the country. The goal is to drive economic growth and position the country as a leader in Africa’s digital…

The leading voice for FTX Collapse victims, @Sunil_trades, confirmed the date for the next batch of redistribution of lost assets.  Sunil, an Activist who has appeared on various media outlets on this issue, shared the timeline for the next batch of redistribution and the category of creditors that will benefit.  According to Sunil, the Distribution…