Quantcast

Crypto influencer: Bybit had 'the largest exchange hack in history by a long way'

CRYPTO NEWS AROUND THE GLOBE
New proof of reserves for Binance: the exchange finally cleared?
Ternoa gets into DeFi: smart contracts arrive on the betanet
Bitcoin: More than 6,000 merchants accept BTC in their store
Coinbase plans acquisition to expand derivatives offering in EU
Coin Center executive director: New IRS crypto reporting rule 'is not only unconstitutional but also virtually impossible to comply with'
Healthcare blockchain project Galeon wins three awards and soars at CES Las Vegas 2024
Binance US Branch Hires New Compliance Officer
BTC: Cboe exchange approves listing of Fidelity Investments Bitcoin Spot ETF
European Central Bank lays out €1.2bn plan for development of digital euro
Crypto Council for Innovation survey finds crypto offers alternative to underbanked communities
Prosecutors won't pursue second trial against FTX founder
Capital inflows into crypto products tripled in 2023
Binance places 10 cryptocurrencies under surveillance: the end of privacy-focused tokens?
Lummis: 'Congress must create rules of the road for the crypto asset industry'
Nexo acquitted of money laundering and tax fraud
Donald Trump sells $2.4 million worth of ETH
Are modular blockchains the answer to scalability problems?
THE TITANS OF WALL STREET AND THE BITCOIN ETF RACE – CRYPTO PERSONALITIES OF 2023
CRYPTO: RIPPLE VERSUS THE SEC, WILL THE WAR CONTINUE IN 2024?
BNB Surges 11% to Overtake Solana as Community Welcomes Sleepless AI
The fortune of the former CEO of Binance increased by 25 billion in 2023
The 5 events that marked the world of crypto in 2023
Currencies and Freedoms: Interview with Benoit Huguet
Survey: Bitcoin adoption slowed by an overly complicated crypto wallet?
Coinbase obtains PSAN registration in France
Crypto industry steps up political donations as mood in Washington sours
Bitcoin miners splash out $600mn in race to squeeze out rivals
Circle secures conditional registration in France under DASP rules
PSAN: the challenges of Circle and Coinbase's arrival in France
El Salvador Offers Citizenship to Bitcoin “Donors”
All Crypto News Around The Globe
Crypto influencer: Bybit had 'the largest exchange hack in history by a long way'
Web3/Crypto
Webp dixon3
Simon Dixon, crypto investor and influencer | X

Simon Dixon, a crypto investor and influencer, has described the Bybit exchange hack as the "largest exchange hack" in history, underscoring the significance of self-custody for Bitcoin. Dixon made this statement in a February 21 post on X.

"This is the largest exchange hack in history by a long way," said Dixon. "A reminder that Bitcoin in self-custody is real $BTC."

According to Cointelegraph, the Bybit exchange was hacked on February 21, 2025, resulting in over $1.4 billion worth of ETH-related tokens being stolen. The hacker accessed an Ethereum cold wallet by exploiting a vulnerability in a multisignature wallet that appeared legitimate. Bybit's CEO Ben Zhou confirmed the breach but assured users that all other cold wallets remained secure and withdrawals continued as normal. The incident led to a 3% drop in Ether's price and added to a series of high-profile crypto security incidents in early 2025.


Simon Dixon's post | X

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

A self-custodial wallet is defined as a digital wallet where users maintain full control over their cryptocurrencies without relying on third parties like banks or exchanges. Unlike custodial wallets, self-custodial wallets ensure only the user can access their funds. This means no approval process is required to access the wallet, allowing users to manage their assets freely. However, these wallets require careful management of private keys or mnemonic phrases to avoid losing access, according to Bitcoin.com.

Bybit suspended services in India on Jan. 12, 2025, due to regulatory challenges. Indian users can’t place new trading orders, modify derivative positions, or deposit crypto and fiat, though withdrawals remain unaffected. Promotional campaign participation is also restricted.

Dixon, CEO and co-founder of BnkToTheFuture.com, has been an outspoken figure in cryptocurrency and global financial discourse. Beyond his work in fintech, he has commented on geopolitical issues. Recently, he claimed that the International Court of Justice (ICJ) ruled Israel’s actions as "completely illegal" and determined there was "plausible genocide," which was a misinterpretation of the actual findings. According to BBC reporting, the ICJ's January 2024 ruling did not determine that genocide was plausible but rather said that Palestinians have a "plausible right" to protection under the Genocide Convention. Dixon is also known for authoring Bank to the Future—the first published book to mention Bitcoin—and has built a reputation in the crypto space by leading investments in major exchanges like Kraken, Coinbase, and Bitsta.

Organizations Included in this History
Bybit
More News

FCA issues warning about TRADESUP LIMITED for unauthorized services

The Financial Conduct Authority (FCA) has issued a warning regarding TRADESUP LIMITED, a firm allegedly offering financial and cryptocurrency services without proper authorization in the United Kingdom.

May 9, 2025

AMF warns of unauthorized crypto-asset websites in France

The Autorité des Marchés Financiers (AMF) has released a list of websites allegedly offering unauthorized crypto-asset services in France.

May 9, 2025

BaFin warns of suspected unauthorized crypto services by Euro Pro Markets

The German Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers about Euro Pro Markets and its website europromarkets.net.

May 9, 2025

FCA warns about unauthorized crypto services from Walton Assets

The Financial Conduct Authority (FCA) has issued a warning regarding Walton Assets, a firm offering financial and crypto-related services without proper authorization.

May 8, 2025

BaFin orders Ethena GmbH to halt unauthorized USDe token operations

The German Federal Financial Supervisory Authority (BaFin) has ordered Ethena GmbH to cease operations involving its USDe crypto token, citing serious deficiencies found during the approval process.

May 5, 2025

FCA issues warning on unauthorized services by Coinvestbase

The Financial Conduct Authority (FCA) has issued a warning regarding Coinvestbase, a firm suspected of offering or promoting financial services in the United Kingdom without proper authorization.

May 5, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

Crypto Price Shifts for April 6, 2025