Crypto markets are currently experiencing significant upheaval. This turmoil is driven by a macro sell-off and a major hack linked to North Korea’s Lazarus group, which has resulted in the theft of $1.4 billion from Bybit.

This breach was made possible by a vulnerability in the Safe website. In response, Bybit has taken measures to replenish its ETH reserves through loans and buybacks. To encourage the return of stolen funds, the exchange is offering a 10% reward, while substantial amounts of the compromised assets have already been blocked.

In related news, the SOLBTC token has dropped to its lowest point since December 2023, coinciding with a filing for a SOL ETF by Franklin Templeton. Other notable developments include:

• binance/?utm_source=CVJ.Ai&utm_medium=glossary&utm_id=CVJ.AI" target="_blank">Binance reportedly offloaded large quantities of SOL via Wintermute.
• Berachain and Sonic are leading in weekly inflows, with BERA surpassing ARB and Base in total value locked.
• El Salvador plans to pause BTC purchases, although there is a strategy in place to acquire an extra $2 billion in BTC.
• In the U.S., Arkham has launched spot trading in several states.
• Monad’s testnet is now live, featuring a throughput of 10,000 transactions per second.

📎 Related coverage from: decrypt.co