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Bybit x DaTRek Recovery Company: $140 million recovery bounty program for stolen $1.5 billion

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Bybit partners with DaTRek Recovery Company to help recover $1.5 billion stolen crypto assets Bybit Offers $140M Bounty to Recover Stolen $1.5B in Crypto Bybit is putting up a $140 million reward for anyone who can help recover the staggering $1.5 billion in stolen crypto making it the largest hack in history. The exchange, the second-largest by trading volume, announced it would offer 10% of any recovered funds to cybersecurity experts , blockchain analysts , and ethical hackers who can track down the missing assets. The Hack: $1.4B Drained from Bybit’s Cold Wallets On February 21, attackers drained over $1.4 billion worth of liquid-staked Ether (stETH), Mantle Staked ETH (mETH), and other ERC-20 tokens from Bybit’s cold wallets. The stolen funds were swiftly laundered through blockchain mixers and cross-chain bridges to obscure their origin. Blockchain investigator ZachXBT linked North Korea’s Lazarus Group to the attack, confirming that at least 5,000 ETH had already been moved thro...
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$2 Billion Bitcoin Purchase Announced by Crypto Rover

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According to Crypto Rover, a $2 billion Bitcoin buy is happening today, which could significantly impact Bitcoin's market liquidity and price dynamics. Traders should monitor the market closely for potential volatility and price movements as such large transactions can create substantial shifts in market sentiment. On February 24, 2025, a significant market event unfolded as a $2 billion Bitcoin purchase was reported by Crypto Rover (@rovercrc) on Twitter (Source: X post by @rovercrc, February 24, 2025). This transaction occurred at 10:00 AM UTC, with the price of Bitcoin standing at $50,000 per coin (Source: CoinMarketCap, February 24, 2025, 10:00 AM UTC). The sheer volume of this purchase sent immediate ripples through the cryptocurrency market, causing Bitcoin's price to surge by 3% within the first hour, reaching $51,500 by 11:00 AM UTC (Source: CoinGecko, February 24, 2025, 11:00 AM UTC). The trading volume for Bitcoin during this period spiked to 15,000 BTC, significantly...
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Bybit Hack: Crypto Exchange eXch Under Fire for Allegedly Processing Stolen Funds

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The crypto world is buzzing with controversy after hackers stole a   staggering $1.4 billion from Bybit   on February 21, making it the biggest crypto hack in history. The attack, which saw cybercriminals gain control of Bybit’s Ether multisig cold wallet, has been linked to   North Korea’s Lazarus Group . In trailing news, North Korean hackers have started laundering funds stolen from Bybit, with blockchain intelligence firm Elliptic tracking over $140 million in suspicious transactions. Interestingly as per the   report , the attackers are mostly using decentralized exchanges and anonymous crypto services to cover their tracks before converting the stolen assets into Bitcoin. The entire process is so complex that it is harder for the authorities to trace the stolen funds. The Bybit hack, which took place on Friday, has now been confirmed as the largest crypto theft in history, with $1.46 billion stolen, primarily in Ethereum. This surpasses the 2021 Poly Network ha...
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Crypto Prices Show Signs of Recovery With Bitcoin Above $84k Amid Trump's Summit Plans

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The rebound comes amid a planned crypto summit hosted by Donald Trump and BlackRock’s inclusion of bitcoin in its model portfolios. What to know: Bitcoin’s price has risen above $84,400, while the broader CoinDesk 20 Index rose more than 1.5% in a day. U.S. President Donald Trump will host a crypto summit   on March 7, featuring prominent figures from the industry BlackRock has added its spot bitcoin ETF to one of its model portfolios. The cryptocurrency market is showing initial signs of recovery from its  worst month in three years  after the price of bitcoin (BTC) plunged to $78,000 in a week that saw the space’s total market capitalization drop by over $400 billion. The dip in prices saw the  Crypto Fear & Greed Index  plunge to 10, a level that hadn’t been seen since the 2022 bear market. However, it has since recovered to 20 while still being in the “extreme fear” range. Bitcoin’s price has now risen more than 3% in the last 24-hour period to now trade...
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Hackers steal $1.5bn from crypto exchange Bybit in biggest-ever heist

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Theft deals blow to an industry that has been reinvigorated by Donald Trump’s re-election Ethereum coins were stolen from Bybit’s offline or ‘cold’ wallet In a significant security breach, Dubai-based cryptocurrency exchange Bybit has reported the theft of approximately $1.5 billion worth of Ethereum. The incident occurred during a routine transfer from a cold wallet to a warm wallet, where attackers manipulated the transaction interface, gaining control over the cold wallet and transferring its contents to an unknown address. Hackers have stolen approximately $1.5 billion in crypto tokens from Bybit in what the exchange has called the largest theft in the industry’s history. Bybit’s CEO, Ben Zhou, revealed on X that Ethereum coins were drained from the exchange’s offline “cold” wallet. In a live-stream update, he stated, “As far as we know, this could be the largest hack in the history of our industry.” Bybit's CEO, Ben Zhou, has assured clients that the exchange remains solvent,...
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Cryptocurrency Transactions: How To Deal with Chargeback Issues

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Chargeback is a huge problem for cryptocurrency exchanges and trading platforms Virtually, all platforms dealing with cryptocurrencies have had to face chargeback issues. With the growing number of crypto users and merchants accepting payments in crypto, the chargeback problem has only increased. It might come across as shocking, but cryptocurrencies have a higher rate of chargeback than eCommerce platforms . In a conventional crypto purchase, chargebacks are not applicable. However, the problem is with modern crypto platforms that offer cryptos against the credit card or wallet payments. It is one of the major issues that crypto exchanges and firms have to deal with as crypto adoption increases. Cryptocurrency transactions: How to deal with chargeback issues Before we get into dealing with chargeback issues, there are some important concepts we need to understand. We will be going through how chargeback works, why it is in place, and how crypto firms can deal with it. Without wasting ...
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