October 1, 2025 | 21:47
Venture capital firm Paradigm has appointed onchain cybersecurity analyst ZachXBT as an incident response advisor following a significant hack of crypto exchange Bybit, which resulted in a loss of $1.4 billion. ZachXBT, known for his investigations into Web3 exploits, will continue his work while assisting Paradigm’s portfolio companies in enhancing their security measures. Since 2021, he has helped recover approximately $350 million for victims of blockchain scams.
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Bybit Restores Ethereum Reserves After Major Hack and Withdrawal Surge
Bybit has fully restored its Ethereum reserves following a significant hack that resulted in the theft of nearly $1.5 billion in ETH and stETH. CEO Ben Zhou confirmed a 1:1 backing of client assets, supported by a proof-of-reserves audit showing over 100% reserve ratio. Despite a surge in withdrawal requests, the exchange successfully processed over 580,000 requests and has launched a bounty program to recover the stolen funds.
read moreBybit Recovers ETH Reserves After Major Hack but Faces Bitcoin Decline
Bybit’s ETH reserves have rebounded to 372K following a significant security breach that resulted in the loss of 401K ETH, attributed to the Lazarus Group. However, Bitcoin and USDT holdings have seen substantial declines, with Bitcoin reserves dropping 32% to $4.7 billion and USDT reserves falling 48% to $1.6 billion. Despite the initial market impact, ETH prices quickly recovered, reflecting a more resilient crypto ecosystem.
read moreTariff Threats Cause Significant Decline in Major Cryptocurrencies
President Trump’s tariff threat has triggered a significant decline in the cryptocurrency market, with Ethereum, XRP, and Solana all dropping over 12%. The uncertainty surrounding the tariffs, set to begin in March, has led to a market correction, resulting in nearly $250 billion lost in market capitalization. Bitcoin exchange-traded funds also faced substantial withdrawals, totaling $571 million last week, as investors reacted to the evolving economic landscape.
read moreBybit Hack: North Korean Lazarus Group Steals 1.46 Billion in Crypto
Hackers linked to North Korea’s Lazarus Group exploited Bybit, stealing $1.46 billion in Ether and other tokens through a phishing campaign and unauthorized fund transfers. The stolen assets were dispersed across multiple wallets to obscure tracking, with over $40 million already frozen through industry collaboration. Chainalysis emphasized the need for enhanced security measures and transparency in user fund protection following this historic breach.
read moreSolana Faces Major Price Drop Ahead of Token Unlock Event
Solana (SOL) has plunged over 15% in 24 hours, trading at $136.90, amid fears of a significant token unlock on March 1, releasing 11.2 million SOL tokens. The network’s activity has declined sharply, following a drop in meme coin values, while security concerns from recent hacks further erode investor confidence. With the broader market downturn affecting major cryptocurrencies, Solana’s future remains uncertain, potentially heading toward $110 if selling pressure continues.
read moreMike Novogratz Opposes Ethereum Hard Fork Calls After Bybit Hack
Mike Novogratz, CEO of Galaxy Digital, has dismissed calls for an Ethereum hard fork following the $1.4 billion Bybit hack attributed to the North Korean hacker group Lazarus. He emphasized that the community should focus on freezing accounts and recovering funds rather than rolling back the blockchain, stating that the current ecosystem is vastly different from the time of the 2015 DAO hack. Novogratz urged world leaders to take action against Lazarus, highlighting the ongoing threat posed by the group.
read moreBybit Hack Linked to Lazarus Group and Dogecoin Price Decline
A significant security breach at crypto exchange Bybit has resulted in the loss of $1.44 billion in ETH-related assets, with the notorious Lazarus Group suspected to be behind the attack. Meanwhile, Dogecoin (DOGE) continues to decline, trading around $0.23 after an 8.55% drop last week, as traders anticipate a potential correction towards the $0.20 level.
read moreEthereum Recovers After Bybit Hack as Exchange Closes Financial Gap
Ethereum prices rebounded over the weekend after a significant drop following the $1.4 billion hack of the Bybit exchange. Bybit’s co-founder announced that the exchange has fully closed the ETH gap, aided by loans and deposits, while efforts to freeze the hackers’ assets are ongoing with international support. Despite the recovery, ETH remains volatile, fluctuating between $2,600 and $2,800.
read moreSBI VC Trade Acquires DMM Bitcoin Assets After Major Hack
SBI VC Trade will acquire the accounts and assets of the hacked crypto exchange DMM Bitcoin on March 8, 2025, following a $305 million breach in May 2024. Customers will have their accounts transitioned automatically, and SBI will add 14 new cryptocurrencies to its platform while taking over leveraged trading pairs, excluding existing ones. Staking for certain assets will commence in April 2025, as DMM Bitcoin ceases operations after failing to recover from the attack.
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