Digging deeper into the $1.4 billion hack of bybit. We will see that this can happen to any organization. It happens just like a spy movie that you often watch on netflix. Many of you wonder why bybit is careless and doesn't check. NO. Maybe the hacker hacked into bybit's internal network in some ways like MIM, phishing... and took control of the internal safe system. The hacker will fake the information on the UI as the ceo bybit said (maskUI) but in fact the internet system underneath is performing another action like granting permission to the hacker. This is really difficult for those who manage multisig.
👉 An example: you receive a request to approve the transfer of 1ETH to a wallet address A like every day. And as usual you see it displays a valid UI on the internal safe. OK, the small value, you will sign the approval quickly. BUT BOOM. Behind the scenes, the system is granting permission to a strange address to withdraw the maximum amount of ETH in the wallet. DONE. YOU HAVE BEEN HACKED. I think it is very important to re-check the security of the internal system. And one more thing is that the community needs to remove wallets marked as hacked. It will make the hacked tokens unsellable. #BybitWalletHack
According to the CEO of Cryptoquant. He has redefined money flow. Please stay tuned. Old money flow (left image) and new money flow (right image).
According to the new definition, we are currently entering phase 4 of altseason as the volume from stablecoins into altcoins is 2.7 times the volume of BTC.
#OnChainInsights Bybit confirms being hacked for $1.4 billion $ETH and $stETH. $BTC reacted to the price right before this news.
SEC agrees in principle to dismiss the enforcement lawsuit against Coinbase.
Ethereum Foundation is looking for a social media expert to rebuild its image in the context of weakened market sentiment. Perhaps Vitalik is noticing that $ETH has been 'very slow' lately. Hopefully, this will change soon.
President Trump once again said that 'he will turn the US into the capital of Crypto'.
The S&P 500 index has reached a new ATH of $6,144.15, a good signal for the market.
Currently, there are about 25 states in the race to pass Bitcoin reserve laws.
$PI has started trading. ATH at $2. New cash flow and new users are expected to flood into the crypto market. There is hope that Altcoin will have a recovery close to the mark of 12/2/2024. (See image)
With the good news recently updated by Crypto365withme, the market is projected to continue to grow in the long term. Forget about temporary losses. History will repeat itself. $ETH $BTC
The current advantage of Bitcoin is at 60.09% and is still on an upward trend. It is predicted that we might see the mark of 70%. The sentiment of investors holding Altcoins is currently very fearful. A survey with a scale of approximately 1.5 million votes shows that currently 80% lean towards Bitcoin increasing in price and only 20% of investors think Bitcoin will decrease. Institutional investors currently control 25.4% of Bitcoin ETF funds, indicating an increasing acceptance in the mainstream market and the strong growth potential of Bitcoin. MSTR has raised $2 billion to enhance its Bitcoin holdings. History may repeat itself when Bitcoin tests the EMA 100 line and will increase significantly. $BTC Bitcoin ETF update 18/2 (details see image)