Author: Yeek.io

In a significant blow to the cryptocurrency industry, Bybit, one of the leading crypto exchanges, has confirmed a major security breach involving its Ethereum cold wallet.  The incident, reported on Friday by Bitcoinist, marks one of the largest cryptocurrency hacks in history, with losses estimated at over $1.5 billion. Bybit Hack Linked To North Korea’s Lazarus Group According to Bybit, the breach occurred during a transfer from their ETH multisig cold wallet to a warm wallet. The exchange revealed on social media platform X (formerly Twitter) that the attack was executed through a “sophisticated manipulation” of the transaction process.  This…

Sailor, a decentralized exchange on Sei, has reached the $10 million total value locked (TVL) milestone one month after its launch, making it the fastest-growing dapp on the network. Sailor is a Uniswap v3 fork on Sei. It is currently the third-largest DEX on Sei after Dragon Swap and Jellyverse. The platform operates as a classic automated market maker (AMM), hosting multiple pools consisting of token pairs. Tokens with the largest TVL share include Wrapped Bitcoin (WBTC), USDC, and Wrapped SEI (WSEI).  The largest pools on Sailor are USDC-SEI with over $4 million in TVL, and WBTC-SEI, with nearly $3…

Altseason could have started already as there may not be a direct Bitcoin-to-altcoin rotation Money has started to flow out of memecoins and could all be going into altcoins At the time of writing, the altcoin market cap and CEX volume ratio seemed to present some compelling insights. Not only did the altcoin market cap surge past $1.5 trillion, but the volume ratio of altcoins to Bitcoin stood at 2.7x – A sign of an upcoming altseason. The hike indicated that stablecoin holders have been shifting towards alts, rather than directly converting BTC to altcoins. Interestingly, this isn’t a straightforward…

Bitcoin mining is a tough business. When one considers deploying economic resources to mine traditional commodities such as gold, copper or oil, prospecting for those resources in the field is always done beforehand, to ensure that any capital invested in a mining project will not be in vain. But due to the very nature of Bitcoin’s security protocol, miners are not able to prospect for anything, since finding a block is a purely statistical and random event. Since there are only 144 blocks to be found per day, there is no way to ensure that a miner’s work will be…

Bitcoin has soared past the $98,000 on Thursday, fueling intense debate among traders over whether the $100K milestone is again within reach or if the current rally is vulnerable to a swift correction. Behind the scenes, market observers point to surging open interest (OI) and increased leverage, spotlighting the possibility of a leverage-driven push. Bitcoin Rally Or Trap? CryptoQuant community analyst Maartunn (@JA_Maartun) warned of a “leverage driven pump,” noting a $2.4B jump in Bitcoin’s OI within 24 hours. Via X, he wrote: “Leverage Driven Pump: $2.4B (7.2%) increase in Open Interest in Bitcoin over the past 24 hours.” Confirming…

Today, we’re excited to announce the Pectra Audit Competition, kicking off on Cantina! This month-long event will run from February 21 to March 24, and we’re excited to see what issues the security community can find. Why Pectra Matters Some of the key EIPs for Pectra are listed below From EOAs to Smart Accounts (EIP-7702) Enhances Externally Owned Accounts (EOAs) with smart contract features. Key Benefits Transaction Batching: Combine multiple operations into a single transaction.Gas Sponsorship: Others can pay fees for the account.Alternative Authentication: Use hardware security modules or passkeys for authorization.Spending Controls: Limit token usage/outflows for improved security.Recovery Mechanisms:…

With the Pi Network Mainnet officially launching on February 20, 2025, Pi Coin is now tradable on various exchanges, including BitMart. If you’ve been mining Pi for years and want to cash out or trade it for another cryptocurrency, this guide will walk you through the process of selling Pi Coin on BitMart. Follow these simple steps to turn your Pi into profit! Why Choose BitMart? BitMart is a trusted cryptocurrency exchange supporting over 1,400 trading pairs, offering a secure platform with real-time trading and 24/7 customer support. As of February 2025, BitMart has announced its support for Pi Network,…

ConsenSys has submitted a letter to the U.S. Securities and Exchange Commission (SEC) expressing concerns about the proposed amendments to the definition of “exchange” under U.S. securities laws. The letter, addressed to Commissioner Hester Peirce and the SEC’s Crypto Task Force, requests the removal of the rulemaking from the regulatory agenda. ConsenSys Challenges US SEC Proposed DeFi Rule Change According to a recent submission, ConsenSys has urged the SEC to withdraw its proposed rule that expands the definition of an “exchange” to include decentralized finance (DeFi) platforms. The company argues that the amendments exceed the SEC’s legal authority. ConsenSys asserts…

MKR’s 4-hour Binance chart showed a strong uptrend, with a 50% gain since the iCrypto alert. If buying pressure persists, MKR could break resistance, but failure to do so may lead to a retracement. The cryptocurrency market has seen heightened activity surrounding Maker [MKR], which surged 20% in recent hours, extending its 50% increase since the iCrypto alert. This rapid price movement attracted investor attention, particularly from whales, whose transactions often signal potential trend shifts. A significant whale trade has sparked debate—does this indicate profit-taking, or can MKR sustain its momentum? Profit-taking or market signal? A major whale, 0x637 (“inveteratus.eth”),…

Ethena Labs has provided an update confirming that its unrealized PNL exposure to the hacked crypto exchange Bybit is now zero. The update follows an earlier post in which the Ethereum-based synthetic dollar protocol reassured users that its USDe stablecoin had minimal exposure to the incident. Previously, the Ethena (ENA) team stated that PNL exposure was under $30 million. “We are aware of the situation currently evolving with Bybit and are continuing to monitor developments.As a reminder: all spot assets backing USDe are held in off exchange custody solutions, including ByBit via Copper Clearloop for this precise reason,” Ethena Labs…