Quantcast

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

CRYPTO NEWS AROUND THE GLOBE
Bitcoin price ‘thrives in conflict’ as regional wars escalate
USA vs Europe: Are EU Banks More Open to Regulated Crypto Businesses?
Crypto Archives – When Morocco Banned Cryptocurrencies from the Country
Bitcoin Price Makes Another Run at $100K as U.S. Traders Return After Thanksgiving
BTC Returns to Near $94K
Crypto in USA : Ripple gives 25 million $ to Fairshake to prepare for the 2026 elections
US dollar weakness, growing money supply could fuel Bitcoin 2025 rally
Binance partners with Bitcoin MENA 2024 as Moon sponsor
Crypto aid mortgage access for low-income households says Treasury report
Bitcoin ETFs hit new record with over $3.1B in weekly inflows
What is Bitcoin waiting for to break through $100,000? BTC's hesitation pushes traders towards this new project
Binance marks one year of leadership under new CEO
Bitcoin: Treat yourself to a volcano in El Salvador to mine BTC!
Bitcoin (BTC) Stake at MicroStrategy (MSTR) Grows to 386.7K After Latest Purchase
UK’s stringent crypto regulations spark debate as exchanges struggle to gain FCA approval
Polymarket Blocks French Traders Amid Gambling Inquiry
Gary Gensler announces his resignation for the inauguration of Donald Trump
FTX co-founder Gary Wang sentenced to time served
UK poised to unveil crypto regulations amid pressure to retain industry
Bitcoin in search of 100,000 $: A $400 million standoff
Trump's US-Propelled Crypto Adoption – Will France Follow?
MicroStrategy Upsizes Debt Offering to $2.6B; Breaks Into Top 100 U.S. Public Companies by Market Cap
Bitcoin on November 20 – BTC dominates the crypto market in this bull run
BIS study questions decentralization in DeFi liquidity provision
Bitcoin surges to record high near $95,000
Polish Presidential Candidate Bullish on Bitcoin – Following in Donald Trump’s Footsteps?
Cryptocurrencies: Goldman Sachs will dedicate its blockchain to institutional trading
Michael Saylor's MicroStrategy Added Additional 51,780 Bitcoin for $4.6B
Speculation looms over SEC leadership under Trump as rhetoric escalates
Outlier Ventures CCO: 'Fundamental crypto general-purpose technology' in off-chain sectors is 'interesting'
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

Crypto whistleblower on Bitget scam: I 'had over $260,865.88 in open leveraged trades' 'I lost everything'

Farid Mahmoodi, a crypto trader and whistleblower, has raised serious allegations against the cryptocurrency exchange Bitget.

May 29, 2025

FCA issues warning on Codex Finance for unauthorized financial and crypto services

The Financial Conduct Authority (FCA) has issued a warning regarding Codex Finance, which is allegedly offering financial and crypto-related services without proper authorization.

May 22, 2025

FCA warns about unauthorized financial and crypto services from Dragonfly Capital Fx

The Financial Conduct Authority (FCA) has issued a warning regarding Dragonfly Capital Fx, which is reportedly offering financial and crypto-related services without proper authorization.

May 22, 2025

CNMV announces adoption of MiCA development guidelines

The Comisión Nacional del Mercado de Valores (CNMV) has announced that it has informed the European Securities and Markets Authority (ESMA) of its adoption of five MiCA Regulation development guidelines.

May 22, 2025

BaFin announces warning on unauthorized services by turbon.co

The German Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers regarding the website turbon.co.

May 21, 2025

FCA seeks input on cryptoasset trading platform regulations

The Financial Conduct Authority (FCA) has announced its intention to seek feedback on proposed regulations for cryptoasset trading platforms.

May 17, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

FCA seeks input on cryptoasset trading platform regulations