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Today's Top Crypto Headlines:
Bybit vs. Lazarus Hackers | Pump.fun Hacked | Binance CEO on Market Dip and more...
King Fatrick Gil Añasco
February 27, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
Bybit vs. Lazarus Hackers: Bybit CEO launched a bounty program after a $1.4B Lazarus-linked hack, offering 10% rewards for fund recoveries.
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Pump.fun X Account Hacked: Pump.fun’s X account was compromised, promoting fake governance tokens.
💡Feature of the Day - Binance CEO on Market Dip: Binance’s Richard Teng reassured investors that Bitcoin’s drop below $90K was temporary, citing strong ETF demand.
All this and more in today’s headlines!
📰 News Highlights:
Bybit CEO Ben Zhou announced a bounty program after a $1.4 billion hack linked to North Korea’s Lazarus Group.
Join us on war against Lazarus - lazarusbounty.com
Industry first bounty site that shows aggregated full transparency on the sanctioned Lazarus money laundering activities. V1 includes:
- Becoming a bounty hunter by connecting your wallet and help tracing the fund, when… x.com/i/web/status/1…— Ben Zhou (@benbybit)
2:36 PM • Feb 25, 2025
The initiative offers up to 10% rewards for successful fund interceptions, with a dedicated team monitoring updates.
Bybit 黑客在过去 24 小时洗走了 4.59 万枚 ETH ($1.13 亿)。目前他们一共已经洗走了 13.5 万枚 ETH ($3.35 亿)，接近三分之一了。
现在 Bybit 黑客地址里还有 36.39 万枚 ETH ($9 亿)。以目前的频率只需要再有 8~10 天就洗完了。
本文由 #Bitget｜@Bitget_zh 赞助
— 余烬 (@EmberCN)
1:35 AM • Feb 26, 2025
Bybit has since restored all stolen funds, ensuring 1:1 asset backing. However, the aggressive stance may expose the exchange to further attacks from hackers.
Thx to the @elliptic team for putting up a real time bybit exploit data, really appreciate the effort and work put into helping us.
— Ben Zhou (@benbybit)
3:42 AM • Feb 26, 2025
To combat crypto laundering, Bybit launched a blacklist wallet API, and blockchain analytics firm Elliptic provided a data feed of North Korean hacker wallets.
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Pump.fun’s X account was compromised on Feb. 26, promoting fake governance tokens.
Crypto investigator ZachXBT linked the hack to previous breaches, including Jupiter DAO and DogWifCoin.
Users were warned to avoid interactions, while the Pump.fun team worked on restoring the account.
💡 Feature of the Day:
Binance CEO on Market Drop [Source]
Binance CEO Richard Teng reassured investors that the recent crypto market dip is a temporary retreat, not a reversal.
Here's my thoughts on the recent market turbulence: It's important to view this as a tactical retreat, not a reversal.
Crypto has been here before and bounced back even stronger. Here's why we should stay optimistic. ⤵️
A thread 🧵
— Richard Teng (@_RichardTeng)
2:21 PM • Feb 25, 2025
Bitcoin briefly fell below $90,000 following Trump's confirmation of 25% tariffs on Canada and Mexico. Teng emphasized crypto’s history of resilience amid macroeconomic shifts.
What we are witnessing now is another short-term tactical retreat, far from a structural decline.
Price movements often overshadow what's happening beneath the surface, but the core drivers of crypto's growth remain firmly intact. 🔒
— Richard Teng (@_RichardTeng)
2:21 PM • Feb 25, 2025
Despite short-term fear, strong demand for crypto ETFs and ongoing SEC filings for new asset-backed ETFs signal bullish sentiment.
If inflation trends downward or the job market weakens, the Fed could shift its stance quickly.
Markets are adjusting to the expectation of a longer wait, but this is not a permanent state – it’s a recalibration!
— Richard Teng (@_RichardTeng)
2:21 PM • Feb 25, 2025
😂 Crypto Meme of the Day:
Meme of the day provided by @scannergr1
And that’s it for this today.
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See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com