Quantcast

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

CRYPTO NEWS AROUND THE GLOBE
EU Markets Watchdog Steps Closer to Finalizing Rules Under MiCA
Global crypto funds saw record net outflows of nearly $1 billion last week
Binance Labs invests in StakeStone as it continues to bet big on restaking sector
Patrick Hansen Clarifies EU Regulation Misinformation: No Ban on Self-Hosted Wallets – News Bytes Bitcoin News
EU Clamps Down on Crypto Anonymity to Fight Money Laundering 
JPMorgan Warns of Further Bitcoin Decline Despite Recent Correction
Europe's Crypto Embrace Slowed, Watchdog Faces Resource Crunch
Greens’ push to end German cryptocurrency tax exemption sparks debate
French Energy Giant EDF Subsidiary Becomes Chiliz Blockchain Validator
N26 Launches New Cryptocurrency Trading Product, N26 Crypto
French Energy Giant EDF Subsidiary Becomes Validator on Chiliz Chain – Blockchain Adoption Rising?
Rise in crypto fund launches predicted as digital gains “acceptance”
EU threatens US hegemony of stablecoins and $140 billion market
Giggle Academy: Changpeng Zhao (CZ) presents his new entrepreneurial project
Crypto: France becomes one of the leaders in adoption!
Mintos Expands Its Reach And Officially Debuts In France And The Netherlands
Millionero wins Best Start Up Exchange Award at Crypto Expo Europe 2024, Romania
Galaxy Digital to launch new ETPs in Europe
Binance Launches Internal Investigation Following Reports of BOME Insider Trading
The bull run is just beginning according to Binance CEO
Binance offers $5M reward for insider trading tip-offs
Tether's USDT Gets Delisted on Crypto Exchange OKX for EU Users
Crypto.com's CEO believes bitcoin price in December 2020 phase of cycle
AI is worsening a €16bn tsunami of fake goods. The EU wants blockchain to help
EU publishes draft rules for stablecoin issuer complaint procedures
Steven Cohen's Point72 Ventures backs European crypto exchange D2X in $10m funding
France's Request Finance acquires crypto accounting fintech Consola Finance - FinTech Futures: Fintech news
OpenAI swoops up French and Spanish news partners for AI chatbot training
Javier García de la Torre: "2024 will be a year of cautious optimism in the crypto sector"
ECB Executive pens November 2025 rollout for digital Euro CBDC
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

President of Les Engagés Bruxelles Party: ECB's digital euro is 'useless, costly, and dangerous waste'

Christophe De Beukelaer, President of Les Engagés Bruxelles Party, expressed concerns regarding the European Central Bank's (ECB) development of a digital euro.

Jul 31, 2025

Binance introduces advanced trading tools with DEX Pro Mode

Binance has announced the launch of DEX Pro Mode for its Binance Wallet, as said in a press release.

Jul 31, 2025

Executive Chairman of Strategy: 'Strategy has acquired 21,021 BTC for ~$2.46 billion'

Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), announced that the company has continued to increase its Bitcoin holdings and reported a strong year-to-date yield, reinforcing its leadership in corporate cryptocurrency...

Jul 31, 2025

ASIC warns investors about Bitget’s unlicensed crypto futures in Australia

The Australian Securities and Investments Commission (ASIC) has issued a warning to investors regarding unlicensed crypto asset futures products offered by Bitget, as said in a public announcement.

Jul 29, 2025

Binance expands off-exchange collateral services to include tokenized real-world assets

Binance has announced an expansion of its institutional off-exchange settlement services, introducing support for two tokenized real-world assets, USYC and cUSDO, which can now be pledged as collateral.

Jul 28, 2025

Co-founder of Ethereum: 'Almost exactly 50% of stake is voting to increase the L1 gas limit'

Vitalik Buterin, co-founder of Ethereum, has said that approximately half of the network's stake supports an increase in the Ethereum Layer 1 (L1) gas limit.

Jul 28, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

ASIC warns investors about Bitget’s unlicensed crypto futures in Australia

2

Binance expands off-exchange collateral services to include tokenized real-world assets

3

Co-founder of Ethereum: 'Almost exactly 50% of stake is voting to increase the L1 gas limit'

4

Binance founder on rising altcoin interest: ‘Not sure how accurate it is, but it is ticking up'

5

Binance introduces advanced trading tools with DEX Pro Mode