Malaysia's Securities Commission has banned Atomic Wallet, a Web3 service, from operating in the country for running a digital asset exchange without registration. This move follows a $100 million hack in 2023, linked to the notorious Lazarus Group, which led to lawsuits against the wallet provider. Despite a U.S. judge dismissing a class-action lawsuit due to jurisdiction issues, Atomic Wallet has launched a $1-million bug bounty to improve security. Meanwhile, crypto-related cyber threats have surged, with $2.2 billion stolen in 2024, highlighting centralized exchanges as prime targets.