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Summary: Bybit Hack by Lazarus Group (North Korea) On February 21, 2025, the Lazarus Group — a North Korean state-sponsored hacking organization — executed one of the largest cyberattacks in cryptocurrency history. The group exploited vulnerabilities in the multi-signature wallet system of Bybit, a major crypto exchange headquartered in Dubai, resulting in the theft of over $1.5 billion worth of digital assets, equivalent to approximately 400,000 ETH. Attack Method: The attackers compromised Safe{Wallet}, a service provider for Bybit’s custody system, gaining unauthorized control over critical signing keys. This allowed them to withdraw large amounts of Ethereum from the platform’s hot wallets without detection until the breach was complete. Money Laundering: Following the theft, approximately 84% of the stolen ETH was converted into Bitcoin through complex laundering strategies. These included using mixing services and dispersing funds across more than 11,000 wallets to obscure the asset flow and avoid traceability. Impact: • Ethereum’s market price dropped sharply in the immediate aftermath. • Confidence in centralized exchanges (CEXs) was significantly shaken globally. • The FBI officially attributed the attack to the Lazarus Group and urged crypto platforms worldwide to urgently enhance cybersecurity defenses. Bybit’s Response: Bybit secured emergency funding from strategic partners such as Galaxy Digital and Wintermute to cover the losses. The exchange fully compensated affected users within 72 hours and launched an immediate overhaul of its wallet infrastructure to implement enhanced security measures.

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“Nike vs. StockX: The NFT Trademark Battle” In February 2022, Nike filed a lawsuit against StockX, alleging that the online marketplace sold unauthorized NFTs featuring Nike’s trademarks without permission. The case centers around StockX’s “Vault NFTs,” which are linked to physical sneakers but were minted and sold without Nike’s approval. Nike claims this infringes on its intellectual property rights and could mislead consumers. The outcome of this lawsuit may set a significant precedent for how trademarks are enforced in the digital realm, particularly concerning NFTs and virtual goods.

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SEC Policy Changes The new SEC Chairman, Paul Atkins, has spoken out in support of clear and industry-friendly crypto regulation, emphasizing the need to create regulations that foster innovation and protect investors.

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Two Traders Sweep Meme Coin Profits on Ethereum by 30,830x!😲 A recent report from blockchain auditing firm Lookonchain revealed that two investors made a profit of 30,830 times from the meme coin on Layer 2 of Ethereum (ETH). Lookonchain pointed out that these two crypto wallets bought 172.56 million tokens of the pre-whitelisted meme coin Brett (BRETT) for only 0.034 ETH, or about $102. However, after the coin's price quickly surged, the two wallets sold 122.74 million tokens of BREET, earning 890.65 ETH, or a total value of $3.14 million, resulting in a profit of 30,830 times. #BTCRebound, #DeFi, #Launchpool, #CryptoRegulation, #AIinCrypto #Write2Earn

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Who Created Bitcoin (BTC)? Bitcoin was created by a mysterious person or group under the pseudonym Satoshi Nakamoto. The Bitcoin whitepaper was published on October 31, 2008, and the first block (Genesis Block) was mined on January 3, 2009. Satoshi’s goal was to build a decentralized financial system — one that doesn’t rely on banks or third parties. To this day, Satoshi’s true identity remains unknown, but their creation has changed the world of finance and technology forever. It’s believed that Satoshi mined around 1 million BTC in the early days, and none of it has ever been moved. #BTCRebound, #DeFi, #Launchpool, #CryptoRegulation, #AIinCrypto #Write2Earn

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