Category: Cryptocurrency

Cryptocurrency is digital money that works online. It lets people send and receive payments directly without banks. It runs on secure networks called blockchains, making it fast and global.

Bybit Hacker Tried to Launder Stolen Crypto Through Memecoins – Got Shut Down

Summary: One of the exploiters behind the huge Bybit hack attempted to clean their gains on Pump.fun but was quickly closed. Before being caught, they had already recorded over $26 million in volume trades through a memecoin called “QinShihuang (500000).”

Pump.fun isn’t messing around when it comes to stopping bad actors. The platform just shut down a hacker connected to the Bybit exchange hack, cutting off their attempt to move stolen funds through memecoin trading.

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Blockchain records show the hacker, using wallet 5STkQy…95T7Cq, sent 60 SOL to another wallet, which then launched the QinShihuang token on Pump.fun. It seems the plan was to use the speedy, high-volume memecoins space to clean the stolen funds. But Pump.fun got there ahead of them and froze them from releasing more tokens.

The hack was huge—more than 400,000 ETH worth about $1.5 billion was stolen from a cold wallet, making it one of the biggest exchange hacks in history.Despite the uncertainty, Bybit had promised customers that their funds were secure through its 1:1 reserve system. Trading and withdrawals continued uninterrupted, which meant that they were not going to allow a hacker to interfere with business.

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As exchanges like Pump.fun upped their security, the bad guys are starting to lose places to hide.

Bybit Hacker Used Binance for Gas Fees Before $1.4B Heist

Summary: One new twist in the Bybit hack is that the hacker used Binance to fund gas charges just days prior to stealing $1.4 billion from the exchange. This raises questions about who the hacker is and if Binance’s records could be used to find them.

The Bybit hack just got even more interesting. It turns out the attacker used Binance to top up Ethereum for gas fees three days before pulling off the $1.4 billion exploit. This detail was uncovered by blockchain analytics firm Lookonchain, adding a new layer to the investigation.

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The fact that the hacker interacted with Binance means there’s a chance their identity could be traced. Security experts at Beosin are urging Bybit to contact Binance to access KYC (Know Your Customer) data linked to the transaction. If the account is legit, it could be a major break in the case.

That said, there’s a high probability the Binance account was purchased on the dark web meaning fake credentials were used, making it a dead end. Only a police investigation, with cooperation from both Bybit and Binance, can confirm if this lead is useful.

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The hack was particularly on Bybit’s Ethereum cold wallet, which emptied 401,347 ETH. The market repercussions are already being experienced, with the price of Ethereum dipping 6% once the news emerged. Everyone is now waiting for Binance and whether their data can be utilized to track the hacker.

YZY Coin Surges 85% Amid Rumors of Kanye West’s Crypto Endorsement

YZY memecoin jumped 85% after rumors Kanye’s backing it. Ye might use it for Yeezy payments, copying Trump’s crypto move.



YZY Coin just shot up 85% in a 24-hour surge after rumors started flying that Kanye West (now Ye) is planning to back the coin. The whispers are that Ye’s new crypto project could link to his Yeezy brand, with the coin becoming the go-to payment method on his website instead of traditional platforms like Shopify.

This isn’t merely rumor—Ye’s been very vocal about being ready to move away from the platforms that’ve distanced themselves from him due to his inflammatory remarks. The YZY token may be how he reclaims control and initiates a fiscal economy directly affiliated with his business ventures. Inner sources on the project report Ye holds 70% of the token supply, with 20% going to investors and 10% reserved for liquidity. It’s practically the same way Trump’s TRUMP coin was distributed, with most of the coins going to a company related to Trump’s brand.

But Ye’s token has bad blood too. Critics say it is just another celebrity-backed crypto venture, poised to make money off of fans with little or nothing new to its credit. Still, the rapid rise of the coin portends that fans are eager to get on the Ye bandwagon—be it for business or just hype.

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SEC Drops Case Against OpenSea NFT Marketplace, No Charges Filed

SEC dropped its case against OpenSea, calling off NFT securities claims. Crypto fam sees it as a huge win for Web3.

Big W for NFTs—SEC just dropped its case against OpenSea, meaning no charges for the massive NFT marketplace. OpenSea’s founder, Devin Finzer, called it a win for the entire space after revealing the news on Feb 21.

This comes right after the SEC also backed off from a lawsuit against Coinbase, where they accused the exchange of running as an unregistered securities broker. OpenSea got hit with a Wells Notice last year, meaning legal action was on the table, but now? SEC is walking away.

The NFT world is celebrating, with Magic Eden’s Chris Akhavan calling it a win for the industry. Even crypto figure Beanie said it brings much-needed regulatory clarity.

Meanwhile, OpenSea isn’t slowing down. The platform is dropping its new SEA token soon, though the exact date is still unclear. But not everyone’s happy—some users have been roasting OpenSea’s recent airdrop rewards, saying it encouraged wash trading and ignored creators.

The SEC staying hands-off on NFTs could mean a regulatory shift, but they haven’t officially explained why they dropped the case. Either way, Web3 just dodged a bullet.

Also Read: Vitalik Buterin Frustrated with Ethereum’s Growing Casino Culture

Kanye West Announces Plans to Create His Own Blockchain

Kanye’s diving into crypto, planning “YZYCHAIN,” but backlash hit after he mentioned “Swasticoin.” Token drop next week—70% for himself.

Kanye West is back in the headlines, and this time it’s all about crypto. Ye just announced plans to launch his own blockchain, supposedly called YZYCHAIN, aiming to build his own digital empire instead of relying on existing platforms.

He dropped the news on X, sharing texts from someone named Edward, who hyped him up, saying he’s got the influence to make it happen. The idea? Fork Solana or Dogecoin and let users mine tokens to power the network.

But things got messy real quick. Ye went off on memecoins, calling them fake, and then suggested launching a token called “Swasticoin”—which, yeah, is as bad as it sounds. This sparked major backlash, especially given his history of controversial takes.

Ye’s been checking out different blockchains like Ethereum, Solana (which he spelled “Solona”), BNB Chain, and Hyperliquid. He also tried linking up with Binance co-founder CZ, who just hit him with a thinking emoji.

Word is, Ye’s dropping a token next week, with 70% of the supply going straight to him. Whether this actually happens or is just another wild Ye moment, only time will tell.

Also Read: Breaking: Bybit Hit by Massive Hack, $1.5 Billion in Crypto Stolen

Breaking: Bybit Hit by Massive Hack, $1.5 Billion in Crypto Stolen

One of the largest crypto exchanges, Bybit, has just experienced a massive security breach. Hackers were able to withdraw an estimated $1.5 billion from the platform’s Ethereum cold wallet, leaving the crypto community stunned.

The attackers deployed a sneaky tactic—forging the signing process of the wallet with an imposter yet realistic user interface. The signers of the wallet were viewing what appeared to be a routine transaction, yet embedded in code was a changed smart contract providing the hacker total control.

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Bybit CEO Ben Zhou confirmed the attack, stating that hackers tricked the exchange into approving a transaction that transferred all the ETH in the cold wallet to an unknown address. “Rest assured, all other cold wallets are secure,” Zhou added, trying to calm users.

Even as the stolen funds get swapped and moved around, Bybit insists withdrawals are still working and no other wallets have been affected. The exchange is working with security experts and authorities to track the stolen assets and recover what they can.

Interestingly, blockchain security firm Cyvers Alerts had flagged suspicious activity involving Bybit’s wallets just before the hack. Now, the exchange is asking the crypto community for help in tracing the stolen funds.

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With another massive hack hitting the crypto world, traders and investors are left wondering—how safe is their money?

Vitalik Buterin Frustrated with Ethereum’s Growing Casino Culture

Not happy with the direction of Ethereum, according to Vitalik Buterin. He was speaking during an AMA on Tako, where he admitted to be disappointed by the embrace blockchain casinos and memecoins have found in the Ethereum community.

When asked if he ever felt let down by the Ethereum Foundation or crypto in general, his answer was simple: “Of course.” No one was shocked when he spoke of issues ranging from people thinking Ethereum should fully embrace gambling and speculative assets to throwing shade at Solana, which has been flooded with memecoins over the past year.

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Some Ethereum supporters argue that ignoring trends like casinos and meme tokens could make Ethereum lose ground to faster-growing blockchains like Solana. But Buterin isn’t convinced. He believes chasing hype would be a “moral reversal” for Ethereum, and if things keep going this way, he might reconsider his role in the ecosystem.

Despite his frustration, he noticed something interesting. Online, people seem obsessed with casinos and quick-money trends, but when he talks to the community in person, their values haven’t changed. That’s what keeps him from walking away.

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As Ethereum competes with other blockchains, the debate continues—should it chase trends like gambling and memecoins, or stay focused on building meaningful applications?

Ethereum Gas Fees Hit Record Low, Dropping to $0.40

Ethereum gas fees have fallen to their lowest point since July 5 years ago, reaching as low as $0.40 in the last week. It takes about $0.70 for a straightforward swap on Uniswap, while USDT transfer is as cheap as $0.11, based on Etherscan data.

The drop coincides with Ethereum undergoing critical network upgrades like increased gas limits and the inclusion of blob transactions. Lower fees usually mean less congestion, making it cheaper to use the network.

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At the same time, Ethereum’s price has been struggling. ETH is currently trading at around $2,800, down 15% in the past month, according to CoinMarketCap. Some experts see this as a temporary slowdown before a bigger move.

“When Ethereum fees are this low, it usually means the network isn’t overcrowded,” says Santiment, a market analytics firm. “Reducing gas prices is a bearish indicator of waning activity for some, but it also creates a chance for new users to come into the market.”.

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With transaction costs hitting record lows, it’s becoming cheaper to employ Ethereum-based services and applications. While investors see this as a signal that something is off, others believe it could lead to a new wave of adoption and bring new traffic into the network.

Litecoin’s Pump: ETF Hype and Whales Are Sending It Soaring

Litecoin is making moves, and investors are paying attention. In just over two weeks (Feb 2–19), its market cap jumped 46%, fueled by excitement over a potential Litecoin ETF and heavy whale buying.

A Litecoin ETF would let people invest in LTC like they do stocks—no wallets, no private keys—just simple buying and selling. Recently, CoinShares applied to list a Litecoin ETF on Nasdaq, and now the SEC is reviewing it. Crypto analysts say there’s a 90% chance it gets approved by late of current year as U.S. regulators warm up to crypto.

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But it’s not just ETF speculation—Litecoin’s network is booming. Daily transaction volume has skyrocketed 243% since August, hitting $9.6 billion. More people are actually using Litecoin rather than just holding it.

And then there are the whales. In just two weeks, big investors scooped up $500 million worth of LTC, a clear sign they believe in its long-term value.

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Right now, LTC is holding around $138, with $120 as strong support. If momentum keeps up, we could see $225 soon. But if it dips under $80, the hype train might slow down.

BlackRock Bitcoin ETF Achieves 50% Market Share Despite Market Pullback

BlackRock Bitcoin ETF hits 50% market share during a 3-day sell-off. Bitcoin price holds firm, showing strength independent of ETF flows.



BlackRock Bitcoin ETF is absolutely dominating! The world’s largest asset manager now holds more than 50% of all Bitcoin ETF assets in the U.S., with more than $56.8 billion in assets. This milestone is achieved just over a year after U.S. spot Bitcoin ETFs launched in January 2024.

Despite the recent 3-day sell-off in Bitcoin ETFs, where over $364 million in net outflows were recorded, BlackRock’s iShares Bitcoin Trust ETF (IBIT) took a hit of $112 million but still remains at the top.

ETFs accounted for a huge portion of Bitcoin’s latest surge, making up 75% of new investments as Bitcoin crossed the $50,000 mark. Bitcoin has also been strong. In spite of outflows in ETFs, its price has still been able to remain over $99,000 as of today.

Industry pros like Marcin Kazmierczak from RedStone believe that Bitcoin’s strength is due to other factors beyond ETFs, like market liquidity and institutional accumulation. Some are worried about Bitcoin’s price action being manufactured, with Samson Mow noting the market looks like it’s stuck in a range. Despite that, Bitcoin remains a top player in the crypto scene.

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