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Cryptocurrency exchange Bybit has suffered the largest hack in crypto history, losing more than $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other ERC-20 tokens. The attack highlights that even centralized exchanges with strong security measures remain vulnerable to sophisticated cyberattacks, analysts say. Blockchain security analysts, including Arkham Intelligence and onchain sleuth ZachXBT,…

Cryptocurrency exchange Bybit was exploited for more than $1.4 billion on Feb. 21, making it the single largest hack in the industry’s 15-year history. In value terms, the single attack represented more than 60% of all crypto funds that were stolen in 2024, based on Cyvers data. Hacks and scams have become commonplace in crypto, creating…

The US Securities and Exchange Commission announced on Feb. 20 the formation of a new group to combat cyber misconduct, including fraud involving blockchain and crypto assets. According to a press release, the new group, called the “Cyber and Emerging Technologies Unit,” will focus on protecting retail investors from bad actors in the emerging technologies space. The…

Data from app analytics platform AppsFlyer shows that cryptocurrency applications saw a sharp increase in adoption in the United Arab Emirates in 2024. According to AppsFlyer, downloads of the top 49 crypto apps in the UAE reached 6.2 million in 2023. That jumped to 15 million in 2024, a 41% increase. Most of these downloads…

Decentralized finance and real-world asset tokenization platform Mantra Finance has received a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing it to expand operations in the United Arab Emirates and the broader Middle East and North Africa (MENA) region. On Feb. 19, Mantra Finance announced that it secured a…

Tether co-founder Reeve Collins is launching a decentralized stablecoin that will compete with the original dollar-pegged token he helped create, upping the ante in a corner of the cryptocurrency market that has seen intense competition. According to a Feb. 18 Bloomberg report, Collins is now chairing Pi Protocol, a self-proclaimed decentralized project that will launch on…