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On February 21, 2025, Bybit, a Dubai-based cryptocurrency exchange, experienced a significant security breach resulting in the theft of approximately $1.5 billion worth of Ethereum (ETH). The incident occurred during a routine transfer from the exchange's cold wallet—designed for secure, offline storage—to a warm wallet used for daily operations. Hackers exploited this process, gaining unauthorized access to the cold wallet and transferring 401,000 ETH to an unknown address. In response to the breach, Bybit's CEO, Ben Zhou, assured clients that the company remains solvent, with all client assets backed 1:1. He emphasized that unaffected wallets and withdrawals continue to operate normally. Bybit is collaborating with blockchain forensic experts to trace the stolen funds and has initiated a recovery bounty program, offering up to 10% of the recovered amount to ethical hackers assisting in the retrieval of the stolen cryptocurrency. Blockchain analytics firms Arkham Intelligence and Elliptic have attributed the attack to North Korea's Lazarus Group, a cybercrime organization known for previous cryptocurrency thefts. Elliptic's analysis suggests that the group employed sophisticated methods to launder the stolen assets through numerous blockchain transactions. This event underscores the vulnerabilities present even in systems designed with enhanced security measures, such as cold wallets. It highlights the necessity for continuous advancements in security protocols within the cryptocurrency industry to safeguard digital assets against increasingly sophisticated cyber threats. #BybitSecurityBreach
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In a significant security breach, Infini, a stablecoin-focused neobank, reported a loss of $49.5 million in USDC due to a cyberattack on February 24, 2025. The attacker exploited administrative privileges to drain funds, subsequently converting them into Ethereum-based assets. Blockchain security firm Lookonchain detailed that the stolen USDC was swiftly exchanged for 49.5 million DAI and then used to purchase 17,696 ETH, which were transferred to a new wallet under close surveillance. In response, Infini's founder, Christian, has pledged full repayment to affected users and assured that withdrawals will resume promptly. This incident follows closely on the heels of a massive $1.5 billion hack targeting the cryptocurrency exchange Bybit, marking one of the largest thefts in the crypto industry's history. These successive breaches underscore the pressing need for enhanced security measures within the cryptocurrency sector to protect user assets and maintain trust in digital financial platforms. #InfiniHacked #BybitSecurityBreach
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Active traders make profits or losses based on market movements and their trading strategies. Here’s how it works: How Active Traders Profit: Buying Low, Selling High (Long Trades) Traders buy BTC or other assets at a lower price and sell when the price rises. Example: Buying BTC at $90,000 and selling at $95,000 earns a $5,000 profit. Short Selling (Betting on Price Drops) Traders borrow BTC and sell it at a high price, then buy it back at a lower price to return it. Example: Selling BTC at $95,000, then rebuying at $90,000 gains a $5,000 profit. Scalping (Small, Frequent Trades) Traders make multiple quick trades, capturing small price changes. Example: Buying BTC at $95,200 and selling at $95,300 repeatedly. Arbitrage (Profiting from Price Differences) Traders buy BTC on one exchange at a lower price and sell on another at a higher price. Using Leverage Margin trading lets traders control larger positions with small capital. Example: 10x leverage on a $1,000 trade controls $10,000 worth of BTC, magnifying gains. How Active Traders Lose Money: Wrong Market Predictions If BTC moves opposite to a trader’s expectation, they take a loss. Example: Buying at $95,000 expecting a rise, but BTC drops to $90,000. Liquidation in Leverage Trading If BTC drops too much in a leveraged trade, the trader’s position gets liquidated (forced exit). High Trading Fees Frequent trading increases costs, reducing profits. Slippage & Volatility Risks Sudden price changes can cause traders to buy or sell at worse prices than expected. Emotional Trading & Overtrading Fear and greed lead to poor decisions, like panic selling or chasing trades. #ActiveUserImpact
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As of February 24, 2025, Bitcoin (BTC) is trading at approximately $95,528, reflecting a slight decrease of 0.485% from the previous close. Recent market dynamics have influenced this trend. A significant $1.5 billion hack on Bybit's Ethereum wallet has heightened security concerns, contributing to downward pressure on cryptocurrency prices. Additionally, Bitcoin's price has been consolidating around the $95,500 support level for the past three weeks. Analysts suggest this could indicate potential heightened volatility in the near future. In the broader financial landscape, U.S. stock futures are trending higher as investors anticipate a recovery from last week's downturn. Key developments include Apple's commitment to a $500 billion investment in U.S. operations and Alibaba's planned $52 billion investment in AI and cloud infrastructure over the next three years. Overall, Bitcoin's recent price movements are influenced by a combination of security incidents within the crypto space and broader economic developments. #PriceTrendAnalysis
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You can profit from buying BNB (Binance Coin) in several ways: 1. Price Appreciation (Holding for Long-Term) Buy BNB at a lower price and hold it as it gains value over time. BNB has historically increased in price due to Binance’s growth and token burns. 2. Binance Fee Discounts Use BNB to pay for trading fees on Binance and get discounts (usually 25% on spot trading and 10% on futures). 3. Staking & Savings Stake BNB in Binance Earn to earn passive income with flexible or locked staking. Use BNB Vault for automatic earnings from multiple Binance products. 4. Binance Launchpool & Launchpad Stake BNB in Binance Launchpool to farm new tokens for free. Participate in Binance Launchpad to buy new project tokens at early-stage prices. 5. DeFi & Yield Farming Use BNB in DeFi protocols like PancakeSwap to earn rewards through liquidity pools and yield farming. 6. BNB Chain Utility Use BNB to pay for transaction fees on BNB Smart Chain (BSC), making it useful in dApps and NFT projects. #OnChainInsaights
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