Bybit Hack Post-Mortem: SafeWallet’s Findings

Unraveling the Bybit Hack: A Simple Explanation

Imagine this: a huge cryptocurrency exchange called Bybit lost about $1.4 billion in digital money because of a clever hack. This made a big splash in the crypto world and got everyone thinking about security. Let’s break down this sneaky attack and learn from it.

The Attack in Action

The hack was done by a group called Lazarus, who are known for tricking people into helping them hack things[1][2]. They started by getting into a developer’s computer at Safe Wallet, a popular place to store digital money[3][4]. Then, they added some bad code to Safe Wallet’s system on Amazon Web Services (AWS). This code only worked when Bybit tried to move money, so it didn’t get noticed by regular users[1][3].

When the code was activated, it changed the details of the money move, giving the hackers control of Bybit’s wallet. They then moved $1.4 billion worth of Ether and staked Ether tokens out of Bybit’s wallet[1][4]. And get this, they even removed the bad code just two minutes after the money move, so no one would know what happened[1][3].

Tricking People is Key

This hack shows how important it is to be careful with people trying to trick you. The hackers likely used phishing to get into the Safe Wallet developer’s computer, which means they tricked someone into helping them[2][5]. This shows that we need to be careful not just with our computers, but also with the people we trust.

How to Stay Safe in the Future

To stop this from happening again, we can do a few things:

    • Check Money Moves Carefully: We should check money moves independently to make sure they’re not being changed[2][4].
    • Keep Our Systems Safe: We should regularly check and update our systems to make sure no one can get in without permission[3][5].
    • Teach People About Tricks**: We should teach people about the tricks hackers use so they don’t fall for them[2][5].

A Call to Action

Summary and Thoughts: The Bybit hack shows us that we need to be really careful with our digital money. We need to have strong security, both for our computers and for the people we trust. As the crypto world grows, we need to make sure we’re doing everything we can to keep our money safe.

The hack also shows us that hackers are getting smarter and using new tricks. We need to understand these tricks and be ready to stop them. If we do, we can make the crypto world a safer place.

Sources:

Crypto Market Cap Set to Surge Past $4T in Q2

crypto Market’s Big Goal: $4 Trillion by 2025

Get ready for some big news in the world of cryptocurrency! Experts think that the total value of all cryptocurrencies could reach a whopping $4 trillion by the second quarter of 2025. This is no small feat, and it’s not just a wild guess. Let’s explore the reasons behind this exciting prediction.

What’s Driving the Crypto Market?

The crypto market is like a roller coaster, with ups and downs following a pattern. This pattern, called a four-year cycle, is closely linked to something called Bitcoin halving. When Bitcoin halving happens, there are fewer new Bitcoins created, and this can make the price go up. Some experts think that Bitcoin could reach $250,000, which is a huge increase from its current price![1]

But it’s not just about Bitcoin. Other cryptocurrencies, called altcoins, are also showing signs of big growth. If the total market capitalization of these altcoins breaks through a certain level, they could have a massive rally – up to 317%![1] This could be a great time for investors to try out different cryptocurrencies and diversify their investments.

Another reason for the optimism is the changing rules about cryptocurrencies. Some countries are making rules that make it easier for people to use and invest in cryptocurrencies. For example, the President of the United States, Donald Trump, has said he supports cryptocurrencies. Also, if special investment tools called ETFs for cryptocurrencies like XRP and Solana are allowed, more people might feel safe investing in them.[5]

New Projects and Opportunities

There are also new projects that could make a big impact. One of them is Qubetics, which is trying to solve a big problem in the world of blockchain – how to make different blockchains work together. If you invest in Qubetics now, you could be in for a big reward when it launches its mainnet in the second quarter of 2025.[3][5]

Another interesting project is Filecoin, which is all about storing things in a safe and decentralized way. Experts think that Filecoin’s value will keep going up as more people use it and it gets better.[3]

Looking Ahead: Navigating the Crypto World

As the crypto market gets closer to that $4 trillion goal, it’s important for investors to stay informed and ready to change their plans. The future looks bright, with historical trends, new technology, and better rules all working together. But remember, the crypto market can be unpredictable, so it’s always a good idea to do your research and spread your investments around.[4]

That’s all for now! Stay tuned for more updates on the exciting world of cryptocurrency.

Sources

David Sacks: US Government’s Bitcoin Sale ‘Disappointing’

Opportunity Lost: A Closer Look at the U.S. Government’s Bitcoin Sales

David Sacks, a top official in the White House, recently expressed regret over the U.S. government’s decision to sell confiscated Bitcoin over the years. He called it a big mistake that cost taxpayers a lot of money[1][3]. This comes at a time when the U.S. government is thinking about creating a special crypto reserve, which could include Bitcoin and other digital assets[1][5]. Let’s explore this missed opportunity and what it might mean for the future of cryptocurrency in the U.S.

The Cost of Quick Decisions

The U.S. government has sold about 195,000 Bitcoin in the past ten years, making around $366 million[1][3]. But if they had kept these Bitcoins until now, they would be worth over $17 billion, with Bitcoin’s current price[1][5]. This shows how important it is to think long-term when managing digital assets.

Looking Back

The government has been selling confiscated Bitcoin for a long time. They’ve sold big amounts from cases like Silk Road[1][3]. The problem is, they sold these assets at different times, often when the market price was low[5]. This is the opposite of what many people in the crypto world suggest, which is to hold assets for a long time to get the best returns[1].

A Possible Change in Strategy?

David Sacks’ comments came before the White House’s first crypto summit. At this event, industry leaders will talk about digital asset policies and strategies[1]. Some people think the U.S. might announce plans for a special Bitcoin reserve at this event, showing a change in how they think about cryptocurrencies[1][3]. This could be similar to President Trump’s recent idea of a “Crypto Strategic Reserve,” which would include Bitcoin, Ethereum, XRP, Solana, and other cryptocurrencies[4].

What This Means for the Future

If the U.S. creates a crypto reserve, it could show that they’re thinking more about the long-term value of cryptocurrencies[1][4]. This could help the U.S. become a leader in the global crypto market. However, there are still challenges, like the U.S. Marshals Service having trouble keeping track of its crypto holdings, which is important for managing and being transparent about them[3].

A New Path Forward

In short, David Sacks’ comments about the U.S. government’s Bitcoin sales show how important it is to have a long-term strategy for managing digital assets. As the U.S. thinks about creating a crypto reserve, it’s a big step towards embracing the future of cryptocurrency. This could not only help the country’s finances but also show that it’s a global leader in the digital economy.

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Sources:
– Cointelegraph
– Cryptobriefing
– Cryptoslate
– Newsday

Bitcoin & Ethereum ETFs See Net Inflows: March 6 Update

March 6 Update: Bitcoin and Ethereum ETFs Show Diverse Trends

Introduction: A Changing Tide in Crypto Investments

Recently, the crypto world has seen a big change in what investors like and dislike, especially when it comes to Bitcoin and Ethereum Exchange-Traded Funds (ETFs). As of March 6, Ethereum ETFs are getting more money, while Bitcoin ETFs are seeing less. Let’s look at what’s happening now and what these changes might mean for the crypto world.

Deep Dive into the Trends

Ethereum ETFs: Gaining Favor

Ethereum ETFs have seen a nice boost of $14.6 million[4] lately. This means investors are feeling more positive about Ethereum’s future. They might be excited about Ethereum’s strong ecosystem and the cool things happening in areas like decentralized finance (DeFi) and non-fungible tokens (NFTs). Ethereum’s ability to change and grow, like its move to proof-of-stake, could also be attracting more investors looking for long-term gains.

Bitcoin ETFs: A Steady Decline

On the other hand, Bitcoin ETFs have seen a net outflow of $143.5 million[4]. This could be because of market ups and downs or worries about Bitcoin’s security in the face of powerful new computers called quantum computers[1]. Even with these challenges, Bitcoin is still a big player in the crypto world, with its price around $86,916[4].

Market Mood and What’s Next

The different trends in Bitcoin and Ethereum ETFs show what investors are thinking in general. Ethereum’s positive inflows might mean people are interested in its potential for innovation and growth. Meanwhile, Bitcoin’s outflows could mean investors are spreading their money around or looking for safer places to put it because of global economic uncertainties.

Conclusion: Charting the Crypto Course

A New Crypto Era

As the crypto world keeps changing, investors are looking for investments that balance risk and potential rewards. The recent trends in Bitcoin and Ethereum ETFs show how quickly investor feelings can change based on tech advances, rules, and global economic stuff.

In short, while Ethereum ETFs are doing well, Bitcoin ETFs are not. This shows how important it is to stay informed and adapt in the fast-changing world of crypto investments.

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Sources:

Bitcoin Options Outpace Ethereum in traders’ preference

Why Bitcoin Options Are More Popular Than Futures Compared to Ethereum

In the fast-paced world of cryptocurrency trading, two stars shine bright: Bitcoin and Ethereum. Both offer futures and options trading, but here’s an interesting fact – traders prefer Bitcoin options over futures more than they do for Ethereum. Let’s explore why this is the case.

First Things First: What Are Cryptocurrency Futures and Options?

Cryptocurrency futures and options are like special tickets that let you guess the future price of cryptocurrencies like Bitcoin and Ethereum.

Futures contracts are like promises to buy or sell a certain amount of cryptocurrency at a set price in the future. You can’t back out of these promises once you’ve made them.

On the other hand, options contracts give you the right to buy or sell, but you don’t have to if you change your mind. It’s like having a choice whether to go on a trip or not, even after you’ve bought the ticket.

Why Do Traders Prefer Bitcoin Options?

There are a few reasons why traders like Bitcoin options more than futures:

1. Flexibility and Risk Management

Options give you more choices. You can use them to protect yourself from big losses (hedging) or bet on price changes without being stuck with a trade (speculating). This is especially helpful with Bitcoin, which can be very unpredictable.

2. Lots of People Trading and Easy Buying and Selling

Bitcoin has more people trading it and higher prices, making it easier to buy and sell options. This attracts more traders because it’s simpler to get in and out of trades.

3. Volatility: Opportunities and Risks

Bitcoin’s price goes up and down a lot, which can be both good and bad. Options let you bet on these price changes without fully committing to a trade, which can be appealing in such a volatile market.

Ethereum’s Story Is Different

Ethereum doesn’t have the same love for options over futures. This could be because:

1. How Its Market Works

Ethereum’s world is all about creating and using special programs (dApps) and smart contracts. Investors who care about this might prefer futures to lock in prices for their long-term plans.

2. Who’s Investing

Ethereum’s investors might be more interested in using Ethereum for its special features rather than just trading it. They might prefer futures to protect their investments or plan for the future.

So, What’s the Big Picture?

In simple terms, traders prefer Bitcoin options over futures compared to Ethereum because of Bitcoin’s wild price changes and larger market. Ethereum’s world of dApps and smart contracts might make futures more appealing. Understanding these differences can help traders make better choices in the ever-changing world of cryptocurrency.

Investopedia and The Automatic Earth helped us understand these trends.

Solana’s DEX Volumes Match Ethereum’s Despite Memecoin Slump: VanEck

Solana vs Ethereum: A Clash of Titans in the DEX Arena

In the fast-paced world of cryptocurrencies, two heavyweights, Solana and Ethereum, have been battling it out in the decentralized exchange (DEX) arena. Despite recent market ups and downs, like the famous memecoin crash, Solana has been holding its own against Ethereum in terms of DEX volume. Let’s explore what makes Solana tick and what the future holds for these two blockchain giants.

Solana’s DEX Volume Reign

For the past few months, Solana has been leading the DEX volume race. In February 2025, Solana’s DEX volume reached a whopping $105.857 billion, leaving Ethereum’s $82.018 billion in the dust[4][5]. This is the fifth month in a row that Solana has taken the crown, showing its growing influence in the decentralized finance (DeFi) world[5].

Solana’s Secret Weapons

Several factors have contributed to Solana’s success:

    • Speed and Low Costs: Solana’s blockchain is designed to handle lots of transactions quickly and at a lower cost than Ethereum, making it more user-friendly[4].
    • Innovation and Community: Solana’s constant innovation and strong community support have helped it attract more developers and users[4].
    • Market Boost: When Solana was included in President Donald Trump’s proposed digital asset reserve, it got a big boost in interest[5].

Ethereum’s Strength and Challenges

While Solana leads in DEX volume, Ethereum still rules the roost in Total Value Locked (TVL) in DeFi. Ethereum’s TVL is a massive $53.679 billion, compared to Solana’s $7.09 billion[1]. This shows that Ethereum is more widely used and integrated in the DeFi world.

Solana’s Hurdles

Despite its success, Solana faces challenges like keeping its network stable and secure. These are crucial for keeping users happy and ensuring Solana keeps growing[4]. Solana also needs to adapt to changing regulations and technology to stay ahead.

Looking Ahead: A Never-ending Rivalry

The competition between Solana and Ethereum is expected to continue, with each pushing the other to improve. If a Solana ETF gets approved, it could give Solana’s growth metrics a big boost and help it catch up to Ethereum in institutional investment[1]. As the DeFi world changes, both Solana and Ethereum will need to adapt to stay relevant.

Conclusion: A Resilient Rivalry

In conclusion, Solana’s ability to compete with Ethereum in DEX volume, despite market ups and downs, shows that it has a strong ecosystem and strategic advantages. This rivalry is likely to drive innovation and growth in the DeFi sector. Whether Solana can keep its lead or Ethereum catches up remains to be seen, but one thing is certain: this rivalry is here to stay.

Sources:

Bukele’s Bitcoin Bet: IMF Loan or No?

El Salvador’s Bitcoin Challenge

El Salvador’s President, Nayib Bukele, is making waves by buying Bitcoin, even though the International Monetary Fund (IMF) told him not to. Let’s find out why he’s doing this and what it means for his country.

Why the IMF Said “No” to Bitcoin

The IMF gave El Salvador a big loan, but with rules. One of these rules was to stop buying and making Bitcoin. The IMF wants El Salvador to be more transparent and careful with digital money to keep its economy stable[3][4]. But President Bukele doesn’t agree with these rules and says El Salvador won’t stop buying Bitcoin[3][5].

Bukele’s Plan: Stick to Bitcoin

President Bukele thinks Bitcoin can help his country become more financially independent and protect it from inflation[2]. He’s using the IMF’s loan to protect his country’s economy while still buying Bitcoin[2].

Finding Loopholes

El Salvador might be finding ways around the IMF’s rules to keep buying Bitcoin. They’ve added more Bitcoin to their collection, now having 6,101 BTC, worth about $530 million[3][5]. This shows that President Bukele is being creative in following the rules.

What This Means for El Salvador

Buying more Bitcoin has big effects on El Salvador’s economy and politics. If El Salvador doesn’t follow the IMF’s rules, it might face penalties or lose the loan[5]. But some people in the crypto world support Bukele’s choice, seeing El Salvador as a leader in using Bitcoin[3].

What People Think and What’s Next

Some people in the crypto world think El Salvador should be more open about how it’s handling the IMF’s rules[5]. Others like that El Salvador is committed to Bitcoin[3]. We’ll have to wait and see what happens next with El Salvador and the IMF.

In Conclusion: A Financial Adventure

In short, President Bukele is taking a big risk by buying Bitcoin even when the IMF told him not to. He believes this is good for El Salvador’s future. This is a big experiment that people around the world are watching to see what happens.

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Sources:
– Cointribune
– Zycrypto
– Business Insider

Bitcoin Tests $90K as US Tariff Fears Roil ETF Investors

Bitcoin’s Wild Ride Near $90K: Tariffs and ETF Jitters

The Volatile Ride

Bitcoin, the world’s biggest cryptocurrency, has been on a rollercoaster ride lately. It briefly broke through the $90,000 mark but has been struggling to stay there[1][3]. The crypto market is super sensitive to what’s happening in the global economy, and recent U.S. tariff news has spooked investors, including those in Bitcoin ETFs[1][5]. Let’s dive into what’s making Bitcoin’s price go up and down and what it means for investors.

Market Worries: Tariffs and ETFs

The U.S. has been putting new tariffs on countries like Canada and Mexico, which is making the global economy feel uncertain[1][5]. This uncertainty is making investors nervous, including those who invest in cryptocurrencies like Bitcoin. The fear of tariffs is making Bitcoin’s price bounce around a lot, from lows of $78,197 to highs of $95,152 in just the past week[2].

Big investors, especially those in Bitcoin ETFs, have been careful. There have been lots of withdrawals from U.S. Bitcoin spot ETFs, like those run by Fidelity and ARK[2]. This means that big investors are either taking their profits or reducing their risk because the market feels uncertain.

Price Fluctuations and Technical Stuff

Bitcoin’s price went above $90,000 for a short time but then fell back down[1]. Right now, Bitcoin is trading above its 200-day moving average, which is a good sign that its price might go up[2]. But, there’s still a risk that the 50-day and 100-day moving averages might cross over each other, which could mean more volatility[2].

Regular People Are Buying Bitcoin

Even with all the ups and downs, regular people are still interested in Bitcoin. There are now 37,390 more wallets holding less than 0.1 BTC than there were a month ago[3]. This is usually a good sign that more people are using and believing in Bitcoin for the long term[3].

Big Investors Are Taking Profits

On the other hand, big Bitcoin holders are taking profits, with fewer wallets holding at least 100 BTC[3]. This means there’s some temporary selling pressure, but it also shows that big investors are being careful because the market is changing a lot.

Navigating the Storm

What’s Next?

Bitcoin’s journey near $90,000 is full of ups and downs, and it’s being influenced by what’s happening in the global economy and what investors think[5]. While regular people are more interested in Bitcoin, big investors are being careful, which makes the price go up and down. An upcoming White House meeting about crypto and plans for a crypto reserve could help make things clearer and more stable, but until then, Bitcoin’s price will probably be sensitive to what’s happening in the economy[5].

As the crypto market keeps changing, investors need to be ready for short-term ups and downs and long-term potential. The fact that more people are buying Bitcoin when its price is lower and that there’s growth in smaller wallets suggests that there could be price increases in the future. But, how well Bitcoin does will depend on how it handles the current economic situation.

Sources:

Brazilian Fintech Unicorn Meliuz Adds Bitcoin to Treasury

Brazilian Fintech Unicorn Meliuz Joins the Bitcoin Bandwagon

In a big move, Brazilian fintech star Meliuz has decided to invest in Bitcoin, becoming one of the first traditional finance companies to do so. This means Meliuz will keep some of its money in Bitcoin instead of just cash. Let’s find out more about this exciting change and what it means for Meliuz and other fintech companies.

Meliuz’s Big Plan

Meliuz, famous for its cashback and financial services, has decided to put up to 10% of its cash into Bitcoin[1][2]. This is a long-term plan to get the best returns from Bitcoin. Meliuz has already bought 45.72 Bitcoins for about $4.1 million, paying an average of $90,296 per Bitcoin[1][3].

Key Parts of the Plan

    • How Much to Invest: Meliuz can invest up to 10% of its cash in Bitcoin, showing it’s serious about cryptocurrency[2][3].
    • Long-Term Goal: Meliuz wants to make money from Bitcoin in the long run, showing it believes in Bitcoin’s future[1][2].
    • Special Team: Meliuz has created a special team to manage its Bitcoin investment and plan for the future[1].

What This Means

Meliuz’s decision to invest in Bitcoin has some important effects:

    • Following the Trend: More companies are keeping Bitcoin as part of their money, showing they accept digital money[1][3].
    • More to Come: Meliuz might buy more Bitcoin in the future and even use it as a main way to manage its money[3].

Looking Ahead

Meliuz’s choice to invest in Bitcoin shows it’s ready for the future. As money changes, more companies might do the same. This is a big step for fintech companies that want to try new things and make the most of their money.

Sources: tradingview.com, tradingview.com, coindesk.com, marketscreener.com, bitcoinmagazine.com

Bitcoin: Another Crash Imminent?

Bitcoin’s Wild Ride: What’s Next?

Bitcoin, the first cryptocurrency, is famous for its wild price swings. It’s like a rollercoaster, going from highs to lows and keeping everyone on the edge of their seats. Recently, Bitcoin’s price has been recovering, reaching around $97,800 after a dip to $91,231[1]. But the big question is: Will Bitcoin’s price crash again? Let’s find out what’s influencing Bitcoin’s future.

Institutions and Governments Join the Party

Bitcoin’s recent jump past $100,000 was helped by big investors and clear rules from the government[4]. Big companies like BlackRock have put a lot of money into Bitcoin, with over $41 billion in Bitcoin ETFs[4]. This means more people are accepting Bitcoin as real money.

Also, if the U.S. starts a Bitcoin reserve, it could make Bitcoin more valuable by making it harder to get[4]. This could lead to more countries using Bitcoin. Some countries already have a lot of Bitcoin[4].

Price Predictions and Technical Stuff

Experts who study the market think Bitcoin is about to grow very fast, thanks to a pattern called a bull flag and fewer Bitcoins on exchanges[4]. But Bitcoin’s price can also be affected by things like politics and other cryptocurrencies like Ethereum[4].

Some people think Bitcoin could reach $200,000 by the end of 2025 because of these good market changes[1][4]. Nick Forster, who runs Derive.xyz, thinks there’s a 12% chance of this happening by December 26, 2025[1].

Politics Matter Too

Politicians can also affect Bitcoin’s price. When Donald Trump talked about a U.S. ‘Crypto Strategic Reserve’, Bitcoin’s price went up a lot[1][3]. This shows how words from important people can change what people think and how they invest.

Challenges and Things to Worry About

Even though some people think Bitcoin will do well, it has some problems. It can change value a lot, transactions can be expensive, and some people worry about the environment[4]. Also, other cryptocurrencies and digital money from banks might make Bitcoin less important[4].

What’s Next for Bitcoin?

In the end, Bitcoin’s price might go up and down, but right now, the market and big investors seem to like it. But remember, Bitcoin is very unpredictable, so you should be careful if you’re thinking about investing.

In the future, Bitcoin’s path will be shaped by new technology, rules from the government, and what politicians say. We don’t know if Bitcoin will crash again, but one thing’s for sure: it will keep everyone talking and curious.

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Sources:
– fxstreet.com
– happyscribe.com
– techpolicy.press
– kvapay.com
– debateus.org