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Ather Energy, the Indian startup manufacturing electric two-wheelers, has cut the size of its initial public offer by 18% to 26.26 billion Indian rupees ($308.3M), according to a new draft prospectus filed Tuesday. The Bengaluru-based startup confirmed to TechCrunch it’s targeting a post-money valuation of $1.4 billion. Last September, the startup sought a valuation of … Read more
The hackers who stole around $1.4 billion in cryptocurrency from crypto exchange Bybit have moved nearly all of the robbed proceeds and converted them into Bitcoin, in what experts call the first phase of the money-laundering operation. On February 21, Bybit said that a “sophisticated attack” on one of the company’s wallets resulted in the … Read more
The cryptocurrency sector suffered staggering losses in February, with scams, exploits, and hacks totaling nearly $1.53 billion, according to blockchain security firm CertiK. The bulk of these losses stemmed from the $1.4 billion attack on Bybit, marking the largest crypto heist in history. On February 21, hackers targeted crypto exchange Bybit, reportedly seizing control of … Read more
Key Takeaways The IMF approved a $1.4 billion loan for El Salvador, with an immediate $113 million disbursement. El Salvador’s Bitcoin policy changes include making Bitcoin acceptance voluntary and ensuring taxes are paid in US dollars. Share this article The International Monetary Fund (IMF) has approved a $1.4 billion extended arrangement for El Salvador under … Read more
Aneirin Flynn, co-founder and CEO of FailSafe, spoke with crypto.news about the Bybit exploit, future preventive measures, and why an Ethereum rollback is unfeasible. Cryptocurrency prices tumbled following one of the largest cyber heists in financial history, as North Korea’s Lazarus Group breached Bybit’s Ethereum (ETH) cold wallet, stealing more than 400,000 ethereum worth $1.4 … Read more
Crypto exchange Bybit, which lost over $1.4 billion in a suspected North Korean hacker attack, says it fully covered the loss within two days. Cryptocurrency exchange Bybit covered its $1.46 billion loss from a recent hacker attack through a mix of loans, whale deposits, and Ethereum (ETH) purchases, blockchain data from Lookonchain shows. In an … Read more
Major cryptocurrency firms have launched a coordinated defense following Bybit’s recent security incident. The exchange’s CEO, Ben Zhou, announced that multiple industry leaders have joined forces to track, contain, and minimize the impact of the exploit. A Huge Thank You to Our Partners and Community After last night’s security incident, we’re incredibly grateful for the … Read more
Bybit exchange has reportedly purchased 266,700 ETH worth $742 million across two days, according to blockchain analytics firm Lookonchain. The transactions occurred in the days following Bybit’s $1.4 billion hack, which has taken the industry by surprise. A wallet linked to Bybit, identified as “0x2E45…1b77,” purchased 157,660 Ethereum (ETH)—worth approximately $437 million—from cryptocurrency investment firms … Read more
An Ethereum developer provided an explanation of why the network cannot “rollback” transactions to recover Bybit’s stolen $1.4 billion. The analysis compares the current situation with two historical cases where blockchain reversals were feasible. In 2010, Bitcoin successfully rolled back transactions when a bug created 184 billion BTC. The developer Tim Beiko stated that it … Read more
The scale of the staggering $1.4 billion hack on crypto exchange Bybit will undoubtedly unfold in coming days and weeks. However, as Bybit, industry players such as other exchanges and blockchain sleuths work out on unmasking the hacker, on-chain data shows the perpetrator immediately got busy trying to move their Ethereum (ETH) loot. What did … Read more
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