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 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.

—

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

Crypto’s Daily Digest

Crypto Market’s Big Comeback Today

Today, the crypto world saw a big comeback! Major cryptocurrencies like Bitcoin, Ethereum, and XRP got a price boost. This isn’t just about numbers; it shows that people are feeling more confident about crypto. Let’s find out what happened and what it might mean for the future.

Price Surge: A Closer Look

From March 5 to March 6, 2025, these cryptocurrencies had a price jump:

    • Bitcoin (BTC): It went from $88,000 to $92,160, showing a strong bullish trend[1]. More people are betting on its price to go even higher.
    • Ethereum (ETH): It rose from $2,200 to $2,303, a 5% increase. People are more confident in ETH compared to BTC[1].
    • XRP: It climbed from $2.40 to $2.52, showing strong demand[1].

Market Mood and Trading Volumes

The comeback happened because people are feeling positive about crypto, partly due to possible rules and good news from the wider economy[1]. Trading volumes also went up:

    • BTC Volume: It spiked by 15% to $45.2 billion in the last 24 hours[1].
    • ETH Volume: It increased by 12% to $18.9 billion[1].
    • XRP Volume: It rose by 10% to $2.2 billion[1].

These increases show that more people are trading and that prices could move again.

Tech Indicators and What’s Next

Special tools that help traders make decisions, like the MACD golden cross and RSI, show strong buying pressure[3]. But prices could go up or down, so we need to wait and see.

Crypto’s Future: Full of Promise and Challenges

Today’s comeback is more than just a price increase; it shows that people are interested in and confident about crypto again. As the crypto world keeps changing, it’s important for traders to watch trends closely to find opportunities. We’ll have to see if this momentum keeps going or if there’s another dip. But one thing is for sure: crypto is here to stay, and its future has both exciting possibilities and challenges.

—

Sources:
– blockchain.news
– coinstats.app
– johnmaconline.com

New York Bill Targets Crypto Investor Protection from Memecoin Scams

Protecting Crypto Investors: A New York Bill Takes Aim at Memecoin Tricks

Welcome to the exciting and sometimes tricky world of cryptocurrency! Today, we’re going to talk about a big challenge investors face: “rug pulls,” especially with funny-sounding coins called memecoins. Don’t worry, we’ll explain everything in simple terms. A new bill in New York wants to protect investors from these sneaky tricks. Let’s find out more!

What are Memecoins and Rug Pulls?

Memecoins are like special coins that people love because they’re fun and have a big community. You might have heard of Dogecoin or Shiba Inu. But here’s the catch: they can be very unpredictable and some people might try to trick you. A “rug pull” happens when the people who created the coin suddenly leave and take all the money with them. This can make investors very sad and lose a lot of money[3].

A New Bill in New York

New York wants to make things better for crypto investors. They’re planning a special team, called a “task force,” to look into how cryptocurrencies, including memecoins, affect the state and its people. This team will focus on three important things:

    • Checking out the crypto scene: They’ll see how many different coins are traded in New York and how many places let you trade them[4].
    • Looking at the environment: They’ll also check how cryptocurrency mining affects the environment and how much energy it uses[4].
    • Comparing rules: They’ll compare New York’s rules with other places to find the best ways to protect people[4].

How Does This Help with Rug Pulls?

The bill doesn’t say “rug pulls” directly, but it wants to make things clearer and safer for investors. By having better rules and watching what happens, the bill can help stop tricks like rug pulls.

Challenges and Opportunities

New York has a program called BitLicense that some people think is too strict. This new bill could be a better way to let new ideas happen while keeping investors safe.

So, What Does This Mean?

The New York bill is a big step towards protecting crypto investors from tricks like rug pulls. If more states do something like this, it could make the crypto world a safer place for everyone. As cryptocurrency keeps changing, we need more ideas like this to help investors feel confident.

Sources:

AI & Blockchain: Redefining Digital Economy

AI Agents and Blockchain: A New Digital World

Imagine a world where tiny, smart robots, not humans, manage our money, book our holidays, and even make decisions for us. This isn’t a far-off dream; it’s the future we’re heading towards. AI agents, powered by something called blockchain, are changing how we interact with the digital world. Let’s explore this exciting new world and find out how AI agents and blockchain are shaping our digital future.

The Rise of Smart AI Agents

AI agents are becoming smarter and more independent every day. They can break down big problems into smaller tasks and learn from their experiences[2]. They’re not just tools we use; they’re like tiny helpers that can do things on their own. But there’s a problem: our money systems need humans to manage them, which makes it hard for AI agents to be truly independent[1].

Blockchain: The Key to Freedom

Blockchain is like a big, secure book that everyone can see but no one can change without everyone agreeing. It gives AI agents digital wallets and smart contracts, which are like tiny programs that manage money[3]. With blockchain, AI agents can manage their money all by themselves, without needing humans to help[1][3].

Markets and Resources for AI Agents

In a blockchain market, AI agents can trade with each other, buy and sell things, and even pay each other using digital money called cryptocurrencies[1]. This means they can charge tiny amounts of money for the things they do, without having to pay big fees[1]. They can also rent computers and access special data to become even smarter[1].

AI Agents and Blockchain: A Perfect Team

When AI agents and blockchain work together, they make each other stronger. AI agents use blockchain to manage their money, and blockchain helps AI agents become even smarter by giving them a safe and secure place to work[1]. This teamwork will change how we use technology and the digital world, and soon, smart AI agents will build and run the next big thing in the internet world[1].

Conclusion: A New Digital Adventure

As we step into this new world, anything is possible. AI agents, with the help of blockchain, will do all sorts of things for us, from managing our money to planning our holidays. They won’t just do things for us; they’ll do things with us, helping us make better decisions and think of new ideas[2]. This new digital world will be more efficient, safer, and smarter than ever before.

Sources: Griffin AI, Ramalytics, OpenTools, Gallagher Insurance, Sei

Migrate Telegram Mini Apps to Solana: Millions Await

Telegram Mini App’s Big Move: Switching Millions to Solana

What’s Going On?

Imagine this: A popular mini-app on Telegram, called PAWS, is moving its millions of users to a different blockchain called Solana. Why? Well, Telegram recently said that all blockchain mini-apps must use their own blockchain, TON. PAWS didn’t like this idea of being stuck in one place, so they decided to switch to Solana instead.

Why This Matters

This move is a big deal because it’s like a game of musical chairs, but with blockchains. Some people think it’s good because it means more users for Solana. But others worry that it might not be good in the long run if something goes wrong with Solana. PAWS, though, seems to be planning for the future by thinking about using other blockchains too.

What’s Happening on Solana?

Since PAWS moved to Solana, lots of new things have been happening there. More than 9 million people have downloaded a crypto wallet called Phantom, and over 1 million new Solana addresses have been created. Also, PAWS’ NFT vouchers have been really popular on a marketplace called Magic Eden, with over 100,000 transactions in just two weeks!

PAWS’ Big Plan

PAWS has a big plan to become a really successful Web3 brand. They want to make money in different ways and keep their users happy by doing things like making games and letting people use DeFi. They want to show that it’s better to keep users engaged and happy, instead of just trying to make money quickly.

Challenges and Opportunities

Even though moving to Solana has been good so far, there might be problems in the future. But PAWS is thinking ahead and planning to use other blockchains too, so they can be ready for anything.

What Does This Mean?

PAWS moving to Solana is a big change in the world of blockchains. It shows that some people want to have choices and not be stuck in one place. As more people use blockchains, we might see more moves like this happening. It’s like watching a big, interesting game unfold!

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Sources:
– Cointelegraph
– Buttondown
– CryptoRobotics
– Blockchain Game Alliance