BybitLaunchpool

🔔 MARKET MOVING NEWS! (27/02/25)

1️⃣ SEC Closed Investigation Into Gemini With No Action: Winklevoss ▶️
#SEC
According to a Feb. 26 notice shared by Gemini co-founder and president Cameron Winklevoss, the United States Securities and Exchange Commission (SEC) has closed its investigation into crypto exchange Gemini. While the regulator will reportedly not recommend an enforcement action, it added the notice isn’t an exoneration and that it must not be construed as an indication that no action will be taken at a later date as a result of the regulator’s investigation.

Commenting on the notice, Winklevoss stated,

It’s wholly unacceptable for an agency like the SEC to bully, harass and attack a lawful industry and then decide one day to simply say we’re good and walk away. I’m glad to be turning the page here as an industry, but this is not the end, rather the beginning toward ensuring this never happens again to the crypto industry or any other exciting, new frontier industry in the future.

2️⃣ SEC And Justin Sun Look To 'Explore A Potential Resolution' 🤔

According to a Feb. 26 filing to a Manhattan federal court, the U.S. Securities and Exchange Commission (SEC) and Justin Sun are looking to pause the regulator’s case against the crypto entrepreneur to allow for settlement talks. For context, the SEC charged Sun and three of his companies (Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc) in March 2023 over allegedly offering and selling Tronix and BitTorrent as investments “through multiple unregistered ‘bounty programs.’”

3️⃣ India’s CBI Raids 60 Locations in Crackdown on GainBitcoin Scam ☄️

India’s Central Bureau of Investigation (CBI) reportedly conducted raids at 60 locations as part of its investigation into the $800 million (₹6,600 crore) GainBitcoin scam. The raids were conducted across the country, including in cities such as Delhi NCR, Pune, Chandigarh, Nanded, Kolhapur, and Bengaluru. During the raids, the CBI seized incriminating digital evidence, including crypto wallets, emails, and cloud data, crucial to tracing the funds—some of which have allegedly been laundered across international borders.

4️⃣ Bybit Hack Forensics Show Safewallet Compromise Led To Stolen Funds ❓
#BybitLaunchpool
According to a series of third-party forensic investigations, compromised SafeWallet credentials were the root cause of the recent Bybit exploit. The forensic reviews, conducted by Sygnia and Verichains, revealed that the compromised credentials of a Safe developer allowed the attacker to gain unauthorised access to the Safe(Wallet) infrastructure and deceive signers into approving a malicious transaction. The attack reportedly originated from a “malicious JavaScript code” injected into SafeWallet’s Amazon Web Services infrastructure. Safewallet confirmed these findings and stated that it has “added security measures to eliminate the attack vector.”

5️⃣ Onchain Sleuth ZachXBT Joins Crypto VC Firm Paradigm As Incident Response Advisor ‼️

Onchain sleuth ZachXBT has reportedly joined as an incident response advisor for crypto investment firm Paradigm. In this role, ZachXBT is expected to assist Paradigm’s portfolio companies with any security-related incidents while continuing to publish investigative content as before.

In a post on X, ZachXBT stated,

It was an easy decision as this gives me the freedom to continue helping the community and publishing investigations like. I’ve always respected how Paradigm has given back to the space by funding intiatives such as Security Alliance, publishing open source research, and helping defend the right to privacy.

6️⃣ US House Will Consider Repeal of 'Burdensome' IRS Crypto Tax Rule 🔍#InfiniHacked
Lawmakers in the U.S. House of Representatives have reportedly advanced a resolution that aims to prevent the Internal Revenue Service from imposing tax reporting requirements on DeFi projects. U.S. House Ways and Means Committee Chair Jason Smith claimed the IRS tax rule seeks to “unnecessarily regulate the providers of digital wallets.” He argued it would only benefit non-U.S. firms that are exempt from the rule’s “burdensome requirements.”

Hi, I'm Javeria, and in a shocking turn of events, the hacker responsible for the massive Bybit cryptocurrency heist has successfully laundered the entire $1.4 billion in stolen cryptocurrency in a staggering 10-day period, raising serious concerns about the security and anonymity of digital assets.*Bybit Hacker Successfully Laundered Entire $1.4 Billion Stolen Crypto in Just 10 Days*

In a shocking revelation, it has been reported that the hacker responsible for the massive Bybit cryptocurrency heist has successfully laundered the entire $1.4 billion stolen in a staggering 10-day period. This brazen act of cybercrime has left the cryptocurrency community reeling and raises serious concerns about the security and anonymity of digital assets.

*The Heist: A Brief Overview*

On [date], Bybit, a popular cryptocurrency exchange, suffered a devastating hack that resulted in the theft of approximately $1.4 billion in various cryptocurrencies. The hacker, whose identity remains unknown, exploited a vulnerability in the exchange's system to gain unauthorized access to user funds.

*Laundering the Stolen Crypto*

In a remarkable display of cunning and sophistication, the hacker managed to launder the entire $1.4 billion in stolen cryptocurrency in just 10 days. This feat is all the more impressive given the scale of the heist and the relative ease with which the hacker was able to evade detection.

*Implications and Concerns*

The successful laundering of the stolen crypto raises serious concerns about the security and anonymity of digital assets. The fact that the hacker was able to move such a large amount of money without being detected highlights the vulnerabilities of the cryptocurrency ecosystem.

Furthermore, this incident serves as a stark reminder of the importance of robust security measures and the need for exchanges to prioritize the protection of user funds.

*Conclusion*

The Bybit hack and subsequent laundering of the stolen crypto is a sobering reminder of the risks and challenges associated with the cryptocurrency market. As the industry continues to evolve, it is essential that exchanges, regulators, and users work together to address these concerns and ensure the security and integrity of the ecosystem.#bybit #BybitLaunchpool #BYBITLAUNCHPAD

#币安Alpha项目公布
For example, I currently have a capital of 100u
Open the first trade with a 10% (10u) position and take profit at 130u
Open the second trade with a 10% (13u) position and take profit at 117u
The position before opening the third trade (13u) takes profit at 156u
Open the fourth trade with a 10% (16u) position and take profit at 204u
When opening a position, control the position based on the given strategy:
For example, if building a position at 2685 (10%), then supplement the position at 2695 (10%) stop
The loss is placed at 2705; a 7% position can be entered in batches, the advantage is that the batch entry win-loss ratio is 1:1.5; 1:2.6
When approaching the take profit level by 5-10 points, close 70%-80% of the position and raise the stop loss for the remaining 20%. If the position breaks by 5-10 points, hold; if it doesn't break, close 70% at a key point, and raise the stop loss for the remaining.

Bybit Hack: What We Know So Far
Crypto exchange Bybit has confirmed a major security breach, with nearly $1.4 billion in Ethereum stolen from one of its cold wallets.

"Everyone is Affected" – What Does This Mean?
During a live stream on X, Shunyet Jan, Bybit’s Head of Derivatives and Institutions, stated, "To be honest right now, everyone is affected." However, it remains unclear how all users are impacted, as only Bybit’s ETH cold wallet was compromised.

The exchange has paused withdrawals, which affects all users, even those who didn’t hold Ethereum. This decision was made to prevent further security risks and manage the situation effectively.

70% of Bybit’s Ethereum Holdings Were Stolen
Bybit’s CEO, Ben Zhou, revealed that the attack wiped out around 70% of the exchange’s total Ethereum assets. This means that most ETH holders on Bybit are directly impacted.

However, Bybit has assured users that:

✅ Other assets (hot and cold wallets) remain secure.

✅ Retail withdrawals are still processing, with the queue getting shorter.

✅ Some partners are stepping in to help cover withdrawal demands.

Will Bybit Buy ETH to Cover Losses?
Both Jan and Zhou clarified that Bybit will not be purchasing Ethereum from the open market to replace lost funds. This means users may have to wait for further updates on how Bybit plans to address the losses.

For now, Bybit is focused on strengthening security measures and ensuring user funds remain protected in the future.
#bybit #BybitLaunchpool #BybitSecurityBreach #LitecoinETF #Write2Earn

Bybit has unveiled a $140 million bounty program as part of its efforts to track down and recover $1.4 billion in stolen funds.
This initiative comes alongside the recovery of over $43 million in cmETH and USDT associated with the incident.
Bybit Enlists Ethical Hackers in $140 Million Bounty Initiative

🔔 MARKET MOVING NEWS! (07/03/25)

1️⃣ President Trump Signs Executive Order to Establish Bitcoin Reserve, Crypto Stockpile 💸
#TrumpCryptoSupport
According to a recent tweet posted by White House Crypto Czar David Sacks, U.S. President Donald Trump has signed an Executive Order authorising the establishment of the Strategic Bitcoin Reserve (SBR) and the U.S. digital asset stockpile. Sacks stated that both the SBR and digital asset stockpile would be funded by assets previously seized by the federal government as part of criminal or civil asset forfeiture proceedings.

The announcement claimed the U.S. will not sell the Bitcoin it holds in the reserve. Sacks stated that the reserve would act like a “digital Fort Knox,” and likened crypto to “digital gold.” He also stated that the Secretaries of Treasury and Commerce have been authorised to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.

2️⃣ Japan’s Ruling Party Moves To Slash Crypto Capital Gains Taxes To 20% ‼️

The Liberal Democratic Party (LDP), the ruling party in Japan, has reportedly published the draft of a regulatory reform proposal that seeks to slash the capital gains tax on crypto to 20% from the current maximum of 55%. It also reportedly seeks to categorise digital assets as a distinct asset class, separate from securities under the Financial Instruments and Exchange Act. The LDP proposal also requested that cryptocurrency derivatives trading receive the same tax treatment as spot investments and moved to defer taxes on crypto-to-crypto swaps.

3️⃣ SafeWallet Releases Bybit Hack Post-Mortem Report 👀
#BybitLaunchpool
According to a new postmortem report by SafeWallet and cybersecurity firm Mandiant, the $1.4 billion hack of crypto exchange Bybit stemmed from a compromised developer laptop. Specifically, the report claims the hacker hijacked a Safe developer’s Amazon Web Services (AWS) session tokens to bypass the multifactor authentication security measures put in place by the firm. Mandiant’s forensic analysis also confirmed that the hackers were North Korean state actors who took 19 days to prepare and execute the attack.

Commenting on the report, Safe stated,

We present these findings in the spirit of transparency and to highlight key lessons learned, along with calls to action for the broader community to learn from this incident and strengthen defences. We wish to stress that despite hundreds of hours of analysis already conducted, there is more work to be done.

4️⃣ Texas State Bitcoin Reserve Gets Closer With Senate Bill Passage ⚡️

The Texas Senate reportedly passed the Bitcoin strategic reserve bill SB-21 in a 25-5 vote on March 6. This brings the proposal one step closer to becoming law as it heads next to the House of Representatives. For context, SB-21 proposes a "state-managed investment fund focused on Bitcoin and other high-market-cap cryptocurrencies." This is different from an earlier Bitcoin bill titled H.B. No. 1598, which required lawmakers to buy and hold BTC for at least five years. In contrast, SB 21 allows BTC to be held outside the state treasury while providing authorities "a more flexible and investment-driven approach, potentially allowing Texas to capitalize on crypto market movements."

5️⃣ World Liberty Financial Amasses Millions In ETH, WBTC And MOVE Ahead Of White House Crypto Summit 💰

According to blockchain intelligence firm Arkham Intelligence, a wallet linked to Trump-backed crypto project World Liberty Financial scooped up more than $20 million worth of digital assets ahead of the White House’s first crypto summit on March 7. Specifically, it acquired $10 million in ETH, $10 million in Wrapped Bitcoin (WBTC), and $1.5 million worth of MOVE. Arkham also noted that World Liberty Financial's Ethereum holdings have increased over the past week, rising from about 2,200 ETH on Monday to over 7,000 ETH by Thursday.
#Follow_Like_Comment #WhiteHouseCryptoSummit

Recently, a wallet from Bybit transferred 22,000 Ethereum (ETH) to Binance, worth approximately $45.35 million. This transfer was monitored 8 hours ago and is suspected to be Bybit's repayment to lenders following a hacking incident.
Last week, the same wallet transferred 22,000 ETH to Binance, indicating the platform's recent activity in capital flow. Meanwhile, on-chain analysis revealed that the addresses involved in this transfer had previously withdrawn 20,592 stETH from Bybit and redeemed them through Lido. If all these ETH are sold, it is expected to generate a profit of over $3.248 million, showcasing the arbitrage opportunity in the market.