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CoinChapter
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Bybit Restores $1.4 Billion in Stolen Ether After Hack
https://coinchapter.com/wp-content/uploads/2024/11/cc-logo-onlight-2.avif
Bybit, the cryptocurrency exchange, has fully restored the $1.4 billion in Ether (ETH) stolen during a cyberattack on Feb. 21, according to CEO Ben Zhou.
In a Feb. 24 announcement on X, Zhou assured users that all client assets have been restored to a 1:1 ratio. He added that an audited proof-of-reserves report will soon be published to confirm the security of user funds.
Bybit CEO Ben Zhou says the exchange has fully covered losses from the massive hack. Source: X
The exchange used a Merkle tree verification system, a cryptographic method that ensures the integrity of asset reserves.
How the Exchange Recovered $1.4 Billion in Missing Ether
Bybit has secured 446,870 ETH, worth approximately $1.23 billion, through a combination of loans, whale deposits, and direct purchases. This amount represents nearly 88% of the total stolen funds.
Bybit-linked wallet address bought 157,660 Ether from several investment firms. Source: LookOnChain on X
A Bybit-linked wallet, identified as “0x2E45…1b77,” purchased 157,660 ETH—valued at $437.8 million—from major crypto investment firms Galaxy Digital, FalconX, and Wintermute through over-the-counter (OTC) deals. Another wallet, labeled “0xd7CF…A995,” acquired $304 million in ETH via transactions on centralized and decentralized exchanges.
Arkham Intelligence data suggests that this second wallet has interacted with Binance and MEXC hot wallets. Multiple transfers were made to these wallet addresses to help replace the lost assets. The first recorded purchase from “0x2E45…1b77” took place on Feb. 22.
You May Also Like: Bybit Opens Liquidation Data to Public After Concerns Over Underreporting
Bybit Hack Represents Over 60% of Stolen Funds in 2024
The $1.4 billion hack stands as the biggest crypto theft ever recorded. It accounted for more than 60% of all stolen cryptocurrency funds in 2024. The attack targeted liquid-staked ETH, Mantle Staked ETH (mETH), and other ERC-20 tokens.
Following the security breach, Bybit’s total assets dropped by $5.3 billion, which includes the stolen amount. On Feb. 22, customer withdrawals also exceeded $5.3 billion.
Despite the major setback, Bybit continues to maintain a strong financial position. The exchange’s total assets currently stand at $10.9 billion, according to data from DefiLlama. More importantly, proof-of-reserves auditor Hacken has confirmed that Bybit’s reserves still exceed its liabilities, meaning all user funds remain fully backed.
The hack initially caused panic in the market, with Bitcoin falling 5% when the news broke. However, the market has since stabilized, with Ethereum rebounding as Bybit quickly refilled its treasury.
Neil Roarty, cryptocurrency analyst at ClickOut Media, said the market reaction suggests that the hack was seen as a short-term hit rather than a crisis.
The quick recovery shows markets see this as a hit, not a crisis, but the attack could accelerate regulatory scrutiny and that might in turn dampen inflows. Investors still like the long-term outlook for crypto, but the question of keeping their funds safe remains a challenge.
Said Neil Roarty, crypto analyst at ClickOut Media.
The post Bybit Restores $1.4 Billion in Stolen Ether After Hack appeared first on Coinchapter. %%featured_image%%
Bybit, the cryptocurrency exchange, has fully restored the $1.4 billion in Ether (ETH) stolen during a cyberattack on Feb. 21, according to CEO Ben Zhou.
In a Feb. 24 announcement on X, Zhou assured users that all client assets have been restored to a 1:1 ratio. He added that an audited proof-of-reserves report will soon be published to confirm the security of user funds.
Bybit CEO Ben Zhou says the exchange has fully covered losses from the massive hack. Source: X
The exchange used a Merkle tree verification system, a cryptographic method that ensures the integrity of asset reserves.
How the Exchange Recovered $1.4 Billion in Missing Ether
Bybit has secured 446,870 ETH, worth approximately $1.23 billion, through a combination of loans, whale deposits, and direct purchases. This amount represents nearly 88% of the total stolen funds.
Bybit-linked wallet address bought 157,660 Ether from several investment firms. Source: LookOnChain on X
A Bybit-linked wallet, identified as “0x2E45…1b77,” purchased 157,660 ETH—valued at $437.8 million—from major crypto investment firms Galaxy Digital, FalconX, and Wintermute through over-the-counter (OTC) deals. Another wallet, labeled “0xd7CF…A995,” acquired $304 million in ETH via transactions on centralized and decentralized exchanges.
Arkham Intelligence data suggests that this second wallet has interacted with Binance and MEXC hot wallets. Multiple transfers were made to these wallet addresses to help replace the lost assets. The first recorded purchase from “0x2E45…1b77” took place on Feb. 22.
You May Also Like: Bybit Opens Liquidation Data to Public After Concerns Over Underreporting
Bybit Hack Represents Over 60% of Stolen Funds in 2024
The $1.4 billion hack stands as the biggest crypto theft ever recorded. It accounted for more than 60% of all stolen cryptocurrency funds in 2024. The attack targeted liquid-staked ETH, Mantle Staked ETH (mETH), and other ERC-20 tokens.
Following the security breach, Bybit’s total assets dropped by $5.3 billion, which includes the stolen amount. On Feb. 22, customer withdrawals also exceeded $5.3 billion.
Despite the major setback, Bybit continues to maintain a strong financial position. The exchange’s total assets currently stand at $10.9 billion, according to data from DefiLlama. More importantly, proof-of-reserves auditor Hacken has confirmed that Bybit’s reserves still exceed its liabilities, meaning all user funds remain fully backed.
The hack initially caused panic in the market, with Bitcoin falling 5% when the news broke. However, the market has since stabilized, with Ethereum rebounding as Bybit quickly refilled its treasury.
Neil Roarty, cryptocurrency analyst at ClickOut Media, said the market reaction suggests that the hack was seen as a short-term hit rather than a crisis.
The quick recovery shows markets see this as a hit, not a crisis, but the attack could accelerate regulatory scrutiny and that might in turn dampen inflows. Investors still like the long-term outlook for crypto, but the question of keeping their funds safe remains a challenge.
Said Neil Roarty, crypto analyst at ClickOut Media.
The post Bybit Restores $1.4 Billion in Stolen Ether After Hack appeared first on Coinchapter. %%featured_image%%
New here. how do set up? any help?
Crypto Master 786
--
Hausse
$BOME
📊 BOME/USDT Technical Analysis: Eyeing a Breakout at $0.006416! 💹
The BOME/USDT pair is trading at $0.006416, consolidating within a narrow range as traders anticipate its next decisive move. With momentum building, this could be a pivotal moment for BOME.
🔑 Key Levels to Watch:
Resistance: The immediate resistance is at $0.006600. A breakout above this level could target $0.006800 and potentially $0.007000.
Support: Strong support lies at $0.006300, with a deeper safety zone around $0.006100, where buyers are likely to step in.
📉 Trend Analysis:
BOME is range-bound, showing signs of consolidation after recent movements. A breakout above resistance or a drop below support could signal the next trend.
🎯 Entry Strategy:
Bullish Setup: Enter long above $0.006600, targeting $0.006800 and $0.007000, with a stop-loss at $0.006400.
Bearish Setup: If the price falls below $0.006300, short positions could aim for $0.006100 or lower.
💡 Pro Tip: Monitor volume surges at key levels—they often confirm the strength of a breakout or breakdown. BOME is poised for its next move—don’t miss out on the action! 🚀📈
#GMTBurnVote #BitwiseBitcoinETF #CryptoRegulation2025 #BTCXmasOrDip? #Write2Earn
📊 BOME/USDT Technical Analysis: Eyeing a Breakout at $0.006416! 💹
The BOME/USDT pair is trading at $0.006416, consolidating within a narrow range as traders anticipate its next decisive move. With momentum building, this could be a pivotal moment for BOME.
🔑 Key Levels to Watch:
Resistance: The immediate resistance is at $0.006600. A breakout above this level could target $0.006800 and potentially $0.007000.
Support: Strong support lies at $0.006300, with a deeper safety zone around $0.006100, where buyers are likely to step in.
📉 Trend Analysis:
BOME is range-bound, showing signs of consolidation after recent movements. A breakout above resistance or a drop below support could signal the next trend.
🎯 Entry Strategy:
Bullish Setup: Enter long above $0.006600, targeting $0.006800 and $0.007000, with a stop-loss at $0.006400.
Bearish Setup: If the price falls below $0.006300, short positions could aim for $0.006100 or lower.
💡 Pro Tip: Monitor volume surges at key levels—they often confirm the strength of a breakout or breakdown. BOME is poised for its next move—don’t miss out on the action! 🚀📈
#GMTBurnVote #BitwiseBitcoinETF #CryptoRegulation2025 #BTCXmasOrDip? #Write2Earn
Keeping #CryptoTrends2024
I asked chatGBT for top 9 coins to invest in 2025
1. Bitcoin (BTC): The first and most well-known cryptocurrency, often referred to as digital gold. It has a limited supply and is widely accepted.
2. Ethereum ($ETH ): Known for its smart contract functionality, Ethereum is the backbone of many decentralized applications (dApps) and has a large developer community.
3. Binance Coin (BNB): The native token the Binance exchange, it has various use cases within the Binance ecosystem and has shown strong growth.
4. Cardano (ADA): Focused on sustainability and scalability, Cardano is known for its research-driven approach and aims to provide a more secure and scalable platform for dApps.
5. Solana (SOL): Known for its high throughput and low transaction costs, Solana has gained popularity for hosting decentralized applications and NFTs.
6. Polkadot (DOT): Aims to enable different blockchains to transfer messages and value in a trust-free fashion; it focuses on interoperability.
7. Chainlink ($LINK ): A decentralized oracle network that provides real-world data to smart contracts on the blockchain, essential for many dApps.
8. Avalanche ($AVAX ): Known for its high speed and low fees, Avalanche is a platform for building decentralized applications and custom blockchain networks.
9. Ripple (XRP): Focused on facilitating cross-border payments, Ripple has partnerships with various financial institutions.
#BinanceAlphaAlert #2025
1. Bitcoin (BTC): The first and most well-known cryptocurrency, often referred to as digital gold. It has a limited supply and is widely accepted.
2. Ethereum ($ETH ): Known for its smart contract functionality, Ethereum is the backbone of many decentralized applications (dApps) and has a large developer community.
3. Binance Coin (BNB): The native token the Binance exchange, it has various use cases within the Binance ecosystem and has shown strong growth.
4. Cardano (ADA): Focused on sustainability and scalability, Cardano is known for its research-driven approach and aims to provide a more secure and scalable platform for dApps.
5. Solana (SOL): Known for its high throughput and low transaction costs, Solana has gained popularity for hosting decentralized applications and NFTs.
6. Polkadot (DOT): Aims to enable different blockchains to transfer messages and value in a trust-free fashion; it focuses on interoperability.
7. Chainlink ($LINK ): A decentralized oracle network that provides real-world data to smart contracts on the blockchain, essential for many dApps.
8. Avalanche ($AVAX ): Known for its high speed and low fees, Avalanche is a platform for building decentralized applications and custom blockchain networks.
9. Ripple (XRP): Focused on facilitating cross-border payments, Ripple has partnerships with various financial institutions.
#BinanceAlphaAlert #2025
"Understanding Bull and Bear Markets in Cryptocurrency"
1. Bull Market: This term describes a market condition where prices are rising or are expected to rise. A "bull" market is characterized by optimism, investor confidence, and expectations that strong results will continue. In the crypto space, a bull market often sees significant price increases for cryptocurrencies, leading to a surge in trading activity.
2. Bear Market: In contrast, a bear market refers to a condition where prices are falling or are expected to fall. A "bear" market is characterized by pessimism, investor fear, and expectations that poor results will continue. During a bear market, many cryptocurrencies may experience significant declines in value, leading to reduced trading activity and investor caution.
#bearish #Bullish
1. Bull Market: This term describes a market condition where prices are rising or are expected to rise. A "bull" market is characterized by optimism, investor confidence, and expectations that strong results will continue. In the crypto space, a bull market often sees significant price increases for cryptocurrencies, leading to a surge in trading activity.
2. Bear Market: In contrast, a bear market refers to a condition where prices are falling or are expected to fall. A "bear" market is characterized by pessimism, investor fear, and expectations that poor results will continue. During a bear market, many cryptocurrencies may experience significant declines in value, leading to reduced trading activity and investor caution.
#bearish #Bullish
Best advice when binancing🫰🏿
the best advice to you if you're beginner here
Don't trade ,COPY TRADE 📎
#ReboundRally
Don't trade ,COPY TRADE 📎
#ReboundRally
Parameters to consider before copy trading.
If I'm looking to copy trade on Binance,I should keep a few things in mind:
1️⃣. MDD (Max Drawdown): This helps me understand the biggest drop in value during a trade. A lower MDD usually indicates better risk management.
2️⃣. PNL (Profit and Loss): I need to look at the overall earnings and losses. Consistently seeing positive PNL is essential for long-term success.
3️⃣. Win Rate: This tells me the percentage of winning trades compared to losing ones. A higher win rate generally reflects better strategies.
4️⃣. Trade Frequency: I should pay attention to how often the trader makes trades since more trades can mean higher risk.
5️⃣. Risk Level: Understanding the trader’s risk profile and their approach to balancing risk and reward is really important for me.
Common Mistakes I've Noticed 🛑 :
- Ignoring Risk Management: One mistake is not considering how much capital to risk on each trade, which can lead to big losses.
- Chasing Trends: Jumping into trades based on hype without solid analysis often results in poor decisions.
- Copying Without Research: Just blindly copying a trader without understanding their strategy can be risky and backfire.
- Overreacting to Losses: Letting emotions take control can lead to panic selling or doubling down on losing trades.
- Failing to Diversify: Putting all my funds into one trader or asset limits potential gains and increases my risk significantly.
#XmasCryptoMiracles
#Copytrading
FOLLOW FOR MORE 🔆
2️⃣. PNL (Profit and Loss): I need to look at the overall earnings and losses. Consistently seeing positive PNL is essential for long-term success.
3️⃣. Win Rate: This tells me the percentage of winning trades compared to losing ones. A higher win rate generally reflects better strategies.
4️⃣. Trade Frequency: I should pay attention to how often the trader makes trades since more trades can mean higher risk.
5️⃣. Risk Level: Understanding the trader’s risk profile and their approach to balancing risk and reward is really important for me.
Common Mistakes I've Noticed 🛑 :
- Ignoring Risk Management: One mistake is not considering how much capital to risk on each trade, which can lead to big losses.
- Chasing Trends: Jumping into trades based on hype without solid analysis often results in poor decisions.
- Copying Without Research: Just blindly copying a trader without understanding their strategy can be risky and backfire.
- Overreacting to Losses: Letting emotions take control can lead to panic selling or doubling down on losing trades.
- Failing to Diversify: Putting all my funds into one trader or asset limits potential gains and increases my risk significantly.
#XmasCryptoMiracles
#Copytrading
FOLLOW FOR MORE 🔆
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