The Hellenic Anti-Money Laundering Authority issued a freezing order, locking the assets and preventing them from being transferred.
Assume any exchange that has some material amount of USDC has an agreement with Circle, said one person familiar with the situation.
Tokenization of equities is gaining steam, with several crypto exchanges moving towards offering on-chain stock trading on their platforms.
The first half of 2025 exposed deep vulnerabilities in the crypto industry, with hackers stealing over $2.1 billion across 75 separate incidents. This marks a 10% increase from the previous H1 record of $2 billion in 2022 and nearly matches the full-year figure for 2024, which closed at $2.2 billion, according to a report from […]
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OKX, Bybit, 1000x, and XT are among the exchanges that will be blocked in Thailand by the end of June.
Thailand's securities regulator announced that crypto exchanges Bybit, 1000X, CoinEx, OKX and XT will be banned locally starting June 28.
Crypto exchange Bybit has received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework from Austria’s Financial Market Authority (FMA), according to a statement issued on May 29. This license enables the platform to offer digital asset services across all 30 European Economic Area (EEA) countries. Bybit plans to make Austria the hub […]
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Bybit has been granted a MiCA license in Austria, according to Austria regulator FMA’s website.
Bitcoin could climb higher before June wraps up, if today’s momentum holds. According to Shunyet Jan, Head of Derivatives at Bybit, the world’s second-largest crypto exchange, a move to $125,000 by the end of Q2 is on the table. That’s a jump of about 16% from current levels near $108,000. It’s a bold call, but Jan ties it to clear rules, steady fund flows and a sliding US dollar. Related Reading: Investors Pour $2.75 Billion Into Bitcoin ETFs As Price Skyrockets Bitcoin: Bold Price Forecast Jan set the $125,000 target in a market update on Thursday. He argues that if big players keep buying, Bitcoin can make that climb from roughly $108,100 today to $125,000 in five weeks. It’s a tight window. The weeks ahead will matter most as prices test new highs and traders look for clues on follow-through. Bybit’s Head of Derivatives Predicts Bitcoin Could Reach $125K by End of Q2 — WF (@WhaleFUD) May 24, 2025 Three Main Drivers Regulatory clarity tops Jan’s list. Based on reports, the new GENIUS Act gives stablecoins defined rules, which could help banks and funds feel safer about crypto. He also mentions spot Bitcoin ETFs. These funds have pulled in fresh capital, offering a straight path for institutions to own Bitcoin. Finally, Jan points to a weaker US dollar. When the dollar dips, Bitcoin often shines as an alternative store of value, his view goes. Altcoin Outlook Mixed While Bitcoin gets the green light, Jan warns that smaller tokens may struggle. He says high interest rates and global uncertainty might limit gains for Ethereum and other major altcoins. If money slows or risk appetite wanes, altcoins could lag behind Bitcoin’s rally. Traders aiming beyond BTC may need to pick their spots more carefully. Other Expert Predictions Jan’s view isn’t alone. Scott Melker, host of The Wolf of All Streets podcast, thinks Bitcoin could hit $250,000 by December 31, 2025. He notes BTC’s volatility has fallen from about three times that of the S&P to under two times. On another front, Adam Back of Blockstream sees an even steeper climb to between $500,000 and $1 million per coin this cycle. Michael Saylor, CEO of Strategy, adds that recent hiccups below $150,000 are tied to short-term holders exiting. He says longer-term investors are moving in through spot ETFs and corporate buys. Related Reading: Think Big? Multiply It By A Billion — XRP Tied To ‘Greatest’ Global Meeting: CEO What Comes Next Investors will be watching ETF flow reports and any shifts in US rate plans. A surprise hawkish move from the Federal Reserve or a fresh regulatory twist could sway prices just as much as demand. If Bitcoin breaks toward $125,000, it would mark a major milestone. But as always, timing matters nearly as much as price targets. Featured image from Gemini Imagen, chart from TradingView
Bybit will allow customers trade shares from 78 companies using the USDT stablecoin as a pair in a broader push into equities markets.
Kaiko said bitcoin market depth on Bybit rebounded to pre-hack levels following Lazarus Group's historic $1.5 billion attack.
In a staggering breach that rocked the crypto world, crypto exchange Bybit has reported significant developments following a major hack attributed to alleged North Korean hackers. The incident, part of a record-breaking $1.5 billion crypto heist, has seen hackers convert at least $300 million into unrecoverable funds. CEO Ben Zhou provided a detailed update on the situation through a post on social media platform X (formerly Twitter). Bybit CEO Details Movement Of Stolen Assets Zhou’s “4.21.25 Executive Summary on Hacked Funds” revealed that the total amount stolen amounts to approximately $1.4 billion, primarily comprising around 500,000 Ethereum (ETH). The breakdown of the hacked funds indicates that 68.57% remain traceable, suggesting that a significant portion of the stolen crypto can still be tracked through the blockchain. Conversely, 27.59% have gone dark, meaning these funds are no longer traceable and may be lost. Additionally, 3.84% of the funds have been frozen, potentially due to interventions from law enforcement or regulatory bodies. Related Reading: Analyst’s Bitcoin Price Prediction From March Plays Out, Here’s The Rest Of It The untraceable funds largely flowed into mixers—services that obscure the origin of cryptocurrencies—before being moved through bridges to peer-to-peer (P2P) and over-the-counter (OTC) platforms. One of the mixers identified in the laundering of the stolen funds is Wasabi, linked to the Democratic People’s Republic of Korea (DPRK). According to Zhou, after a specific amount of Bitcoin (BTC) was processed through Wasabi, it subsequently entered other mixing services such as CryptoMixer, Tornado Cash, and Railgun. The hackers reportedly utilized various cross-chain and swap services, including Thorchain, eXch, Lombard, LiFi, Stargate, and SunSwap, to facilitate the movement of assets. The ultimate destination for these funds appears to be OTC or P2P fiat currency exchange services, which allow for the conversion of cryptocurrencies into traditional currencies without the need for a centralized exchange. Stolen Crypto Breakdown The update also sheds light on the whereabouts of the stolen assets. A substantial portion of Ethereum has been transferred, with 432,748 ETH—approximately 84.45% of the total—valued at around $1.21 billion, converted from Ethereum to Bitcoin via Thorchain. Of this amount, 67.25% (342,975 ETH, valued at about $960.33 million) has been converted into 10,003 BTC, distributed across 35,772 wallets with an average of 0.28 BTC each. Related Reading: Dogecoin Stalls After 42 Days Of Flat Price Action — Is A Breakdown Coming? Meanwhile, 1.17% (5,991 ETH, approximately $16.77 million) remains on the Ethereum blockchain across 12,490 wallets, averaging 0.48 ETH each. In terms of Bitcoin, 944 BTC—about 6.34%, valued at $90.62 million—has been sent to the Wasabi Mixer, while 531 BTC (equivalent to 18,206 ETH, or 3.57%) has been transferred back from Bitcoin to Ethereum via Thorchain. In light of the ongoing investigation, Bybit has received 5,443 bounty reports related to the hack over the past 60 days, with 70 of those deemed valid. Zhou emphasized the need for more community involvement, inviting bounty hunters to help decode mixers and assist in tracing the remaining stolen funds. Featured image from DALL-E, chart from TradingView.com
The amount of stolen funds from the Bybit hack that have slipped out of reach continues to rise as the days go by. On April 21, Bybit CEO Ben Zhou revealed that around $400 million, around 27.6% of the $1.4 billion in stolen Ethereum, can no longer be traced. This represents a sharp increase from […]
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The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms, Zhou said.
The sudden collapse of MANTRA’s OM token has sent shockwaves through the crypto market but drove its derivatives trading volume up by an eye-popping 7,000% in just 24 hours. Data from Coinglass reveals that trading activity surged to over $6 billion during this period, with Binance and Bybit accounting for more than half of the […]
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The attack on Bybit in February, which saw nearly $1.5 billion worth of digital assets stolen, was the largest hack of a crypto exchange in dollar terms ever.
Bybit CEO Ben Zhou has explained how hackers are turning to Bitcoin mixers to launder the $1.5 billion in Ethereum stolen from the exchange last month. In an update shared on X on March 20, Zhou disclosed that 193 BTC, approximately $16 million, from the stolen funds, were funneled through Wasabi Wallet before being distributed […]
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OKX has temporarily suspended its Web3 decentralized exchange (DEX) aggregator following discussions with European regulators. The exchange announced this decision on March 17, stating that the move is part of efforts to enhance security measures and prevent misuse of its platform. Bybit hack connection The suspension comes as European authorities investigate allegations that hackers linked […]
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The Hermit Kingdom, which intelligence agencies say was behind the $1.5 billion Bybit hack, faces “offramping” challenges due to the size of its hauls.
Bybit CEO Ben Zhou has confirmed that $1.07 billion—roughly 77% of the assets stolen in the exchange’s recent $1.4 billion security breach—can still be tracked. In a March 4 update, Zhou disclosed that hackers successfully laundered $280 million, around 20% of the 499,000 ETH stolen. Meanwhile, investigators have managed to freeze $42 million, accounting for […]
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Some 417,348 ETH, valued at approximately $1 billion remain traceable on the blockchain after being moved using privacy-focused THORChain.
THORChain was one of the platforms Bybit hackers used to launder funds, according to observers.
Bybit's Ben Zhou said that this week and the next are critical for freezing stolen funds as funds will start to clear on trading platforms.
The FBI reiterated North Korean involvement, and identified the activity as TraderTraitor.
The apparent stand-off mirrors that of WazirX and Liminal Custody, which blamed each other following a $230 million exploit last July.
The exchange is offering a 5% bounty for submissions that could lead to stolen funds being frozen.
Ethereum’s price trajectory has taken a sharp downturn, with technical analysis showing a possible crash to $2,000. Crypto analyst SwallowAcademy pointed out on the TradingView platform that some bearish signals are forming in smaller timeframes, especially as buyers have failed to maintain a key support zone at $2,700. Notably, the broader market downturn over the past 24 hours has only strengthened the case for further declines for Ethereum. Ethereum Plunges Over 12% In 24 Hours As Market Suffers Steep Losses The crypto market has taken a heavy hit, with Bitcoin falling below major support at $90,000 and shedding 6.9% over the past 24 hours. An already struggling Ethereum has fared even worse, with its price plunging 12.6% in the same timeframe. Particularly, Ethereum broke below support levels at $2,600, $2,500, and $2,400 in quick succession. Related Reading: Ethereum’s Large Consolidation Trend Points To Possible Price Explosion To $8,000 This steep decline has aligned with SwallowAcademy’s warning about Ethereum’s weakness on smaller timeframes, further lending weight to the possibility of a more profound drop to $2,000. SwallowAcademy had initially emphasized that Ethereum remained in a solid buying zone due to the presence of EMAs at the $2,700 support. However, with price action shifting, the analyst acknowledges that bearish pressure on lower timeframes could open the door for further declines. Interestingly, this Ethereum price crash in the past 24 hours came as a surprise, as bulls managed to hold above a key support level of $2,700 despite the fiasco of Bybit’s $1.5 billion hack that took place throughout the weekend. Although the immediate fallout from the exchange’s hack appeared contained, the market now seems to be experiencing a delayed reaction, and fear is gradually setting in among investors. This growing uncertainty, combined with persistent outflows from crypto investment products, including Spot Bitcoin and Spot Ethereum funds, has added more downward pressure on Ethereum’s price. As it stands, the current Ethereum daily candle is firmly in the hands of sellers, with no signs of easing pressure. This is a significant change from the previously strong buying sentiment. Bearish Momentum Could Extend To $2,000 The weakening weekly candle has tipped the scales towards more declines than a bullish uptrend, though it is still early in the week to decide. cautions that it is still early in the week. Ethereum is already trading below the EMAs in the daily timeframe, so the crucial factor is whether it can hold above the EMAs in the weekly timeframe. Related Reading: Is It Time To Give Up On Ethereum Below $4,000? Analyst Weighs The Facts If the current selling momentum continues and the price breaks below $2,200, the next major downside target is $2,000 before any notable bounce can occur. At the time of writing, Ethereum is trading at $2,395 and is at the risk of more declines over the next 24 hours. Despite the sharp drop, the RSI has yet to reach oversold conditions, which means that sellers may still have room to push prices lower before exhaustion sets in. Featured image from Adobe Stock, chart from Tradingview.com
Bybit has returned the 40,000 Ethereum loan, valued at roughly $99.98 million, obtained from Bitget following the recent $1.4 billion security incident. Blockchain analysis platform Lookonchain reported that the repayment occurred on Feb. 24, with Bybit transferring the funds from its cold wallet back to Bitget. On Feb. 25, Bitget CEO Gracy Chen confirmed the […]
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Bybit CEO Ben Zhou confirmed that the exchange restored Ethereum (ETH) reserves following the recent $1.4 billion security breach. In a Feb. 24 post on X, Zhou announced that Bybit will soon release an updated proof-of-reserves report demonstrating that it now holds client assets 1:1. He stated: “Bybit has already fully closed the ETH gap, […]
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Bybit has returned to a 1:1 backing of client assets days after being hit by the biggest crypto heist ever.