Tag: web3

Michael Saylor Stirs Controversy Again With Bitcoin Comments

Summary: MicroStrategy executive chairman Michael Saylor quipped that individuals should “sell a kidney” but hold onto their Bitcoin. His comment comes after Bitcoin fell 19% this month, currently trading at $81,883. With market concerns regarding liquidity, economic uncertainty, and trade tensions, investors are nervous.

Saylor, whose company holds nearly 500,000 BTC, refuses to sell despite MicroStrategy’s $8 billion debt. His tweet got mixed reactions—some laughed, while critics like Peter Schiff called him reckless. This isn’t the first time Saylor has made bold Bitcoin claims; in 2021, he urged people to mortgage their homes for BTC

YOU MIGHT ALSO LIKE: Pi Coin Drops 25%—KYC Deadline Sparks Market Panic

Beyond social media, he’s been lobbying U.S. lawmakers to establish a Bitcoin reserve, arguing it could strengthen the country’s financial future. He even tried to get Jeff Bezos interested, calling Bitcoin the key to free markets and personal liberty.

YOU MIGHT ALSO LIKE: Bybit Hacker Moves $605M ETH—THORChain Under Fire as Crypto Heist Sparks Chaos

Despite Bitcoin’s struggles, Saylor remains one of its loudest supporters, willing to go to extreme lengths to convince others to hold on.

Bitcoin Crash Wipes Out $2.16B, Recent Buyers Hit Hardest

Summary: Bitcoin’s price dip below $90,000 triggered $2.16 billion in realized losses, with most of the damage suffered by recent buyers, according to Glassnode. Long-term holders remained largely unaffected.

Bitcoin’s sharp drop on February 25 led to massive losses, particularly for those who bought in just before the downturn. Glassnode’s analysis shows that from February 25 to 27, traders lost over $2.16 billion, with short-term holders bearing the brunt of the crash.

YOU MIGHT ALSO LIKE: FBI Links North Korea to Record-Breaking $1.5 Billion ByBit Hack

Investors who bought BTC within a week of the crash suffered the most, losing $927 million—42.5% of total realized losses.Those who purchased during the previous month suffered losses of $678 million (31.3%). Traders who entered just 24 hours prior to the drop contributed $322 million (14%).

Long-term investors fared much better. Those who had BTC for six months or longer lost only $6.5 million (0.3%), while those who had purchased a year ago suffered losses of just $3.2 million (0.15%).

YOU MIGHT ALSO LIKE: Ethereum’s Pectra Upgrade Hits Snag on Testnet, Mainnet Timeline Uncertain

Glassnode further indicated that February 26 was the largest one-day crypto plunge in 2025 thus far since realized losses reached $1.13 billion 25% larger than the former largest loss on February 3. Although the fall has been precipitous, long-term holders continue to own, while newcomers cannot sell.

FBI Links North Korea to Record-Breaking $1.5 Billion ByBit Hack

Summary: The FBI blamed North Korea’s Lazarus Group for orchestrating the record $1.5 billion ByBit crypto exchange hack. The money was reportedly traded for Bitcoin and other cryptocurrency, with the potential that it will be laundered into fiat.

The FBI officially attributed the hacking of ByBit’s $1.5 billion cyber theft last month to North Korea’s Lazarus Group. In its official statement, the agency spelled out how pilfered assets were laundered through thousands of blockchain addresses by hackers, or “TraderTraitor.”.

YOU MIGHT ALSO LIKE: DOJ Cracks Down on $LIBRA Crypto Scam as Investors Suffer Huge Losses

ByBit CEO Ben Zhou confirmed on X that the attack targeted the exchange’s ether cold wallet, leaving all other wallets unaffected and withdrawals functioning as usual. Despite the massive breach, the platform’s total assets remain at $5.3 billion.

YOU MIGHT ALSO LIKE: Bitcoin Falls 4.9%, Dips Below $85K to Lowest Level Since November

Crypto entrepreneur Mario Nawfal called the ByBit hack the largest crypto heist in history. With North Korean cyber threats escalating, global authorities are intensifying efforts to combat digital asset theft.

Ethereum’s Pectra Upgrade Hits Snag on Testnet, Mainnet Timeline Uncertain

Summary: Ethereum’s much-anticipated Pectra update hit a snag in its Holesky testnet deployment on Feb. 24, holding up the originally planned mainnet debut. Developers are working on a fix, but timing remains unclear.

Ethereum’s Pectra update, heralded for such critical improvements as higher staking thresholds, better scaling, and wallet smart features, has encountered trouble. The upgrade went live on the Holesky testnet on February 24 but ran into a critical finalization issue—nodes failed to agree on the next block, halting progress.

YOU MIGHT ALSO LIKE:DOJ Cracks Down on $LIBRA Crypto Scam as Investors Suffer Huge Losses

Georgios Konstantopoulos, a key contributor, explained that the problem stemmed from a bug in the deposit contract address, which disrupted block production.Ethereum coders soon set to work creating a patch and getting back to business.

Despite the glitch, the team remains optimistic. “Glad Reth & Erigon went off without a hitch, and in my opinion, NBD for other teams,” Konstantopoulos said, underlining that the ecosystem is going forward together.

YOU MIGHT ALSO LIKE: Bitcoin Falls 4.9%, Dips Below $85K to Lowest Level Since November

First, the release was to be done in phases, with Sepolia’s testnet going live on March 5 and mainnet on April. With this delay, however, the timeline becomes cloudy. It is being worked on by developers to be addressed as soon as possible, but the Ethereum community will have to wait slightly longer to witness Pectra completely rolled out.

U.S. Recovers $31M From Uranium Finance Hack, But Many Questions Remain

Summary: Nearly four years after Uranium Finance was cyberattacked to the value of $50 million, U.S. authorities have recovered $31 million of looted funds. The operation, led by the Southern District of New York and Homeland Security Investigations, is a significant milestone. Nevertheless, most of the stolen crypto remains untraced.

On April 4 years earlier, Uranium Finance, a Binance Smart Chain automated market maker, was hacked because of a vulnerability in its smart contract when Version 2.1 was launched. The hacker quickly transferred the looted assets via Tornado Cash and AnySwap, which made them hard to track.The money was also said to have been spent on buying some of the limited edition trading cards.

YOU MIGHT ALSO LIKE: CBI Cracks Down on GainBitcoin Scam, Raids 60+ Locations Across India

The timing of the attack was indicative of an insider attack, as the project repository of contracts on GitHub went missing soon after. While the restitution of funds is some compensation, it still barely makes up for the losses made. This incident demonstrates how the authorities are increasingly capable of following stolen crypto back to its perpetrators, and that laundering is more and more hard for cyber criminals. But full justice remains unattainable for the vast majority of victim users.

YOU MIGHT ALSO LIKE: Grayscale Pursues SEC Approval for Polkadot ETF on Nasdaq

Ethereum Crashes to $2,300 but Analysts See a Massive Rally Ahead

Summary: Ethereum’s price fell to $2,300, a 13% depreciation within a 24-hour period. This decline did not deter experts, though, who think it may revert to $8,000 or even $10,000 within the coming months.

Ethereum’s price was severely hurt and went to $2,300 as Bitcoin dipped below the $90,000 mark upon the United States weekly market open. The quick dip, during which ETH decreased over 13% in just a single day, has stunned traders.

YOU MIGHT ALSO LIKE: Nansen Becomes Super Representative for TRON, Enhancing Blockchain Transparency

According to CoinMarketCap, ETH is now trading at about $2,420 after going as low as $2,330 earlier in the day. Although Ethereum hasn’t been able to hit new highs, unlike Bitcoin and some of the world’s leading cryptos that enjoyed record-breaking price rallies late in 2024 and early in 2025, market sentiment has slowly been becoming more positive.

Some analysts believe Ethereum is set to recover well, with some calling for a rally to $8,000. Some traders even foresee ETH bursting past $10,000, cementing its status as a leading player in the DeFi space.

YOU MIGHT ALSO LIKE: CBI Cracks Down on GainBitcoin Scam, Raids 60+ Locations Across India

Now, Ethereum is attempting to recover from its recent downfall, trending against the $2,600 to $2,800 level. But the most important job is to break the $3,000 resistance line before it can sustain with the rest of the market rally.

CBI Cracks Down on GainBitcoin Scam, Raids 60+ Locations Across India

Summary: India’s Central Bureau of Investigation (CBI) is conducting massive raids in various cities to unmask the whole magnitude of GainBitcoin scam. The raid is for tracking robbed money and putting the culprits in the dock.

The CBI is raiding more than 60 locations in India as part of its probe into the GainBitcoin scam, a Ponzi scam that defrauded thousands of investors. Raids are being carried out in major cities like Delhi NCR, Pune, Chandigarh, and Bengaluru against those who have indulged in financial fraud and money laundering.

YOU MIGHT ALSO LIKE: Grayscale Pursues SEC Approval for Polkadot ETF on Nasdaq

GainBitcoin was founded 10 years ago by Amit Bhardwaj, who has since passed away, and his brother Ajay Bhardwaj. It lured investors with promises of 10% monthly Bitcoin returns through so-called cloud mining contracts. The scheme followed a multi-level marketing (MLM) model, where payouts relied on recruiting new investors. Initially, participants received Bitcoin, but as the operation began to collapse 8 years ago, payouts were switched to an in-house cryptocurrency called MCAP, which had little to no value, leaving investors with heavy losses.

As multiple fraud cases piled up across different states, the Supreme Court of India directed the CBI to investigate. The agency is now working to trace the stolen funds, including those transferred overseas, and identify everyone involved.

YOU MIGHT ALSO LIKE: Cardano (ADA) Plummets 11%: Is a Drop to $0.50 Inevitable or Can It Recover?

During the searches, investigators seized cryptocurrency wallets, critical digital evidence, and email records stored on cloud platforms. The CBI has stated that the investigation will continue until all those responsible are brought to justice.

Nexo Partners with Acapulco Tennis Open, Strengthening its Presence in Latin America

Summary: Nexo has teamed up with the Abierto Mexicano Telcel presented by HSBC, commonly known as the Acapulco Tennis Open, the biggest ATP 500 tournament, to increase its international presence and push digital asset adoption.

Nexo has debuted its collaboration with the Abierto Mexicano Telcel presented by HSBC, also known as the Acapulco Tennis Open, a top ATP 500 event. The event will take place from February 24 to March 1, 2025, at Arena GNP Seguros in Aguilar, Mexico.

This collaboration highlights Nexo’s commitment to integrating digital assets into global sports events. The company sees parallels between the discipline required for success in tennis and the long-term strategies needed for wealth creation.

YOU MIGHT ALSO LIKE:

Summary: Nexo has teamed up with the Abierto Mexicano Telcel presented by HSBC, commonly known as the Acapulco Tennis Open, the biggest ATP 500 tournament, to increase its international presence and push digital asset adoption.

Nexo has debuted its collaboration with the Abierto Mexicano Telcel presented by HSBC, also known as the Acapulco Tennis Open, a top ATP 500 event.

WazirX Moves ₹606 Crore Out of Bybit After Hack—Without Telling Anyone

Summary: After the massive Bybit hack that wiped out $1.5 billion, most exchanges reassured users their funds were safe. But WazirX? They stayed completely silent. Even worse, they secretly withdrew ₹606 crore from Bybit just a day after the attack, offering zero explanation.

The Bybit hack on February 21, 2025, was one of the biggest exchange breaches ever, draining over 400,000 ETH. While most exchanges addressed user concerns, WazirX chose a different path—silence. Then, just 24 hours after the hack, they quietly moved ₹606 crore out of Bybit, without a single update to their users.

YOU MIGHT ALSO LIKE: Bybit Hacker Tried to Launder Stolen Crypto Through Memecoins – Got Shut Down

A year ago, WazirX users lost ₹2,000 crore in another major hack. To make matters worse, the exchange had transferred ₹606 crore of remaining user funds to Bybit—an unregistered exchange in India at the time. Now, after the Bybit hack, they’ve withdrawn their funds without saying a word, leaving users in the dark yet again.

Crypto analyst Aditya Singh exposed the transaction, sharing proof on X. He questioned why WazirX had funds in Bybit in the first place and why there’s still no proof of reserves. “Imagine if Bybit didn’t cover losses. What would’ve happened?” he wrote.

Meanwhile, CoinDCX and CoinSwitch quickly reassured users they weren’t affected. Bybit itself restored withdrawals within two days. WazirX? No fixes, no statements, no transparency.

YOU MIGHT ALSO LIKE: Bybit Hacker Used Binance for Gas Fees Before $1.4B Heist

Nischal Shetty, once a vocal advocate for decentralization, has gone silent. He’s focused on his Web3 projects while WazirX users are left stranded. Ask questions, and you might just get blocked.

This isn’t just bad management—it’s pure negligence. If WazirX truly cared, they would have addressed this long ago. Instead, they’re waiting for the noise to fade, hoping users stop asking questions. But the real question is: How much longer will WazirX ignore its users while pretending nothing happened?

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.

YOU MIGHT ALSO LIKE: Bybit Hacker Used Binance for Gas Fees Before $1.4B Heist

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.

YOU MIGHT ALSO LIKE: Breaking: Bybit Hit by Massive Hack, $1.5 Billion in Crypto Stolen

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

Exit mobile version