Lumyna

March 05, 2025 – 01:10 AM PST
The cryptocurrency world faced a tumultuous February, with a staggering $1.61 billion lost across 22 significant security incidents, according to a detailed report from Lumyna. The most headline-grabbing of these breaches was a colossal $1.5 billion hack targeting the Bybit exchange, underscoring the persistent vulnerabilities within the Web3 ecosystem.Beosin, a prominent blockchain security firm, released its February Security Report on March 4, outlining the scale and nature of these incidents.
The Bybit hack, which occurred on February 21, stands as the largest single loss of the month, shaking confidence in centralized exchanges. The attack saw cybercriminals exploit a sophisticated vulnerability, draining over 400,000 ETH from Bybit’s systems. Reports suggest the breach bypassed critical transaction verification protocols, leading to a liquidity crisis for the exchange. Despite assurances from Bybit that user funds remain secure and the platform remains solvent, the incident has reignited debates over the safety of keeping assets on centralized platforms.
Beyond Bybit, the report highlights a range of other attacks, many targeting smart contract vulnerabilities. Decentralized lending protocol zkLend suffered a $9.5 million loss due to a logic flaw in its contract. The attacker manipulated the system, siphoning off funds in a breach that was reported on February 12. zkLend has since offered a 10% bounty to the hacker for the return of the remaining funds, a deadline for which has passed without resolution, leaving the protocol to pursue legal action.
Similarly, Four.Meme, a memecoin platform on the BNB Chain, lost $183,000 after attackers exploited its failure to properly configure liquidity pools and pre-set prices. This incident, though smaller in scale, exemplifies the risks posed by oversight in smart contract deployment, a recurring theme in February’s security woes.The $1.61 billion total marks a dramatic escalation from previous months, with the Bybit hack alone accounting for over 93% of the losses. Other incidents, including wallet compromises and phishing scams, contributed to the remaining tally, though specifics on these lesser breaches were not detailed in Beosin’s overview.
The report serves as a stark reminder of the “dark forest” nature of blockchain ecosystems, where vulnerabilities can lead to rapid and devastating financial impacts.Industry experts are now calling for enhanced security measures, particularly for exchanges and DeFi protocols. The Bybit incident, linked by some to North Korea’s Lazarus Group following FBI confirmation, highlights the sophistication of modern crypto attacks. Efforts to freeze stolen funds have seen limited success, with Bybit recovering approximately $43.65 million as of March 3 through multi-party coordination.
As the crypto sector reels from February’s losses, the Beosin report underscores a silver lining: $52.45 million in stolen assets were frozen or recovered industry-wide this month, reflecting improved collaboration and response mechanisms. Nonetheless, with losses already surpassing $1.6 billion in 2025’s first two months, the year is shaping up to be a challenging one for Web3 security.
For a comprehensive breakdown of these incidents, lumyna readers to its full February Security Report. As the industry braces for potential aftershocks, the message is clear: vigilance and robust security are more critical than ever in the ever-evolving landscape of cryptocurrency.

#TRUMP #BTC走势分析

March 3, 2025 – In a bombshell accusation rocking the crypto world, notorious Bitcoin skeptic Peter Schiff has pointed the finger at President Donald Trump, claiming he orchestrated “the biggest crypto rug pull of all time.” Schiff, a vocal anti-crypto economist, is now calling on Congress to launch a full-scale investigation into what he alleges was a deliberate pump-and-dump scheme that sent the cryptocurrency market into a tailspin.
The controversy erupted after a wild 48-hour rollercoaster in the crypto market, which saw its total market cap soar to record highs on Sunday—fueled by Trump’s cryptic Truth Social posts hinting at a U.S. strategic crypto reserve—only to plummet $350 billion by Monday evening. Schiff alleges that Trump’s posts, which spotlighted major coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP, were timed to inflate prices during thin weekend trading, allowing insiders to cash out before the crash.“Donald Trump, the self-proclaimed ‘crypto President,’ just pulled the rug out from under retail investors,” Schiff declared in a fiery statement.

He’s demanding lawmakers subpoena emails, texts, and financial records from Trump’s inner circle to uncover who knew about the posts in advance and who profited from the chaos. “This wasn’t a policy win—it was a con,” he added.The White House has yet to respond, but Trump’s camp has previously touted his pro-crypto stance as a boon for American innovation. Meanwhile, the market carnage has left traders reeling, with some crying foul over what they see as a betrayal by the administration. As Congress weighs Schiff’s call to action, the crypto faithful are left wondering: was this a calculated grift or just another day in the volatile digital Wild West? Stay tuned—this saga’s far from over.

March 3, 2025 – In a stunning development in the world of cryptocurrency, blockchain security firm PeckShield has reported that the hacker responsible for the massive Bybit exchange heist has fully laundered all 500,000 stolen Ethereum (ETH), valued at approximately $1.4 billion. The breach, which occurred on February 21, 2025, marked one of the largest crypto thefts in history.According to PeckShieldAlert, the hacker, widely believed to be linked to North Korea’s Lazarus Group, completed the laundering process in just over a week, utilizing sophisticated methods including cross-chain swaps, decentralized exchanges, and mixers to obscure the funds' trail. The rapid pace of the operation has raised alarms about the vulnerabilities in the crypto ecosystem and the challenges of tracking illicit transactions.Bybit, a Dubai-based centralized exchange, had previously restored its reserves to cover user funds, ensuring no direct losses to customers. However, the incident has sparked renewed debate over security practices and the role of decentralized platforms in facilitating the movement of stolen assets. Authorities and blockchain analysts continue to investigate, but the successful laundering underscores the growing sophistication of crypto-related cybercrime.

I decided to dive into the trending cryptocurrency Solana (SOL), lured by its skyrocketing price of $221 and whispers of it hitting $400 by year-end. I’d read about its lightning-fast transactions and growing ecosystem, so I invested $1,000, expecting a smooth ride. Little did I know, I was in for a lesson on timing and research.
What Actually Happened?
I bought SOL during a peak hype cycle, right after a major partnership announcement. My wallet confirmed the purchase, and I felt invincible. But within days, the price dipped 15% due to market profit-taking I hadn’t anticipated. Panicked, I dug into forums and learned I’d overlooked Solana’s volatility after big news. I’d also used a centralized exchange with high fees, eating into my gains when I tried to sell at a loss. My $1,000 shrank to $800, and I realized I’d jumped in blind.
Key Takeaways for Others
Timing Matters: Research market cycles—buying at a peak often leads to short-term losses.
Fees Add Up: Compare exchange fees before trading; they can erode profits fast.Stay Calm:
Volatility is normal; don’t rush to sell during a dip.Do Your Homework:
Understand a coin’s fundamentals beyond the hype.
Moving Forward
I held onto my SOL, and by late February, it rebounded to $230. I didn’t recover fully, but I broke even. This taught me patience, "HODL" and the value of due diligence. Solana’s potential still excites me, its speed and DeFi growth are real, but now I’m wiser.
Have you ridden a crypto wave like this? Sharing these bumps helps us all navigate this wild market!