According to BlockBeats, on February 22, Tim Wong, Chair of the Catizen Foundation, expressed his confidence on social media that Bybit will successfully navigate its current challenges. As a significant partner of Bybit, Wong reflected on the valuable support Bybit provided during the early stages of Catizen's development, particularly in marketing and resource integration. Wong emphasized that despite the challenges Bybit is currently facing, he believes the company will swiftly overcome these difficulties and emerge stronger. He quoted, 'What doesn't kill you makes you stronger,' highlighting his optimism for Bybit's continued growth and resilience.

According to Odaily, Mask Network founder Suji Yan announced on the X platform that he has deposited some Ethereum (ETH) back to Bybit. He mentioned that the public address holds less than $10 million and affirmed his continued support.

According to PANews, cross-chain bridge Chainflip announced on the X platform its plans to enhance the screening of ETH proxies to reject suspicious deposits. The screening mechanism is already deployed for BTC and will soon be applied to ETH. Previously, Chainflip stated that it had made efforts to block the Bybit hacker and shut down some front-end services. However, it acknowledged the inability to completely prevent, freeze, or redirect any funds.

According to BlockBeats, on February 22, the Pacific Waterdrop Digital Asset Quantitative Fund recommended that the industry adopt more compliant and secure solutions to prevent severe threats to asset security, similar to the hacking incidents experienced by Bybit. The proposed solution involves conducting trades on major trading platforms while storing all encrypted assets with third-party licensed institutions, ensuring institutional-level security custody. An asset mapping mechanism is employed between the fund's trading platform accounts and the custodial institutions, which guarantees the safety of fund assets even in the worst-case scenarios involving trading platforms. The recent crisis has had no impact on the fund's operations.

Odaily Planet Daily News Greeks.Live macro researcher Adam posted on the X platform that despite the theft of $1.5 billion in Ethereum from Bybit, market sentiment remains cautiously optimistic, and traders believe that this is only a temporary setback. The group consensus will focus on $95,000-96,000 as a key support level, and a mean reversion to higher is expected, but there are some differences in price trends over the weekend. The market believes that the impact of the hack is controllable. Binance and Bitget provided emergency liquidity support by depositing 50,000 Ethereum, and traders actively sold low volatility options (29% volatility), indicating that concerns about further declines are limited. The group expects a rapid recovery similar to previous exchange events, focusing on the $93,000-96,000 range for mean reversion trading.

Odaily Planet Daily News ZachXBT published an update on the movement of Bybit’s stolen funds, saying that a few minutes ago, the Lazarus Group linked an address related to the BingX hacker attack, which now connects the stolen funds of Bybit, BingX, and Phemex to the chain. Overlapping address: 0xd555789b146256253cd4540da28dcff6e44f6e50 Bybit hacker attack transaction: 0x4a366130118d750715c2d35fdc07509cf943fcc988fa5e6d02211e3d5472796e BingX hacker attack transaction: 0x93424aa87731bb9b1d8cc1f708d2ac9f3faf914f368a00494d87cba3e7719e8c

The crypto market is subject to a neutral market sentiment even as the bulls remain in control. Subsequently, majors like Ripple and Ethereum are range-bound while their steady fundamentals support the prices.  On the other hand, more savvy investors are shifting their focus to meme crypto projects with the potential to revolutionize the industry. One […] The post Bitcoin Pepe set to reap big... source: https://coinjournal.net/news/bitcoin-pepe-set-to-reap-big-from-its-virality-fundamentals-and-timing/

Anticipation among both crypto enthusiasts and bettors remains high for a potential Kanye West meme coin. If it becomes a reality, the token would almost certainly be one of the best cryptos to buy. The uproar has been caused by an alleged CoinDesk article, which all but confirmed Kanye’s meme coin ambitions. However, the market isn’t so sure anymore, as sources are saying CoinDesk received... source: https://www.newsbtc.com/news/best-crypto-to-buy-as-odds-of-a-kanye-west-meme-coin-spikes-83/

Odaily Planet Daily News Beosin security team conducted in-depth tracking and analysis of the stolen funds in the Bybit exchange hacker attack. The study found that one of the stolen funds deposit addresses 0x36ed3c0213565530c35115d93a80f9c04d94e4cb transferred 5000 ETH to the split address 0x4571bd67d14280e40bf3910bd39fbf60834f900a at 06:28:23 UTC on February 22, 2025. Subsequently, the funds were split into amounts ranging from tens to hundreds of ETH at a frequency of once every few minutes, and further transferred to multiple addresses. It is worth noting that after multiple transfers, some funds attempted to cross-chain to the BTC chain address bc1qlu4a33zjspefa3tnq566xszcr0fvwz05ewhqfq through Chainflip, showing that the hacker attempted to further conceal the flow of funds through cross-chain operations. In addition, at 07:44:47 UTC on February 22, 2025, the split address transferred 56.68 ETH to the black address 0x33d057af74779925c4b2e720a820387cb89f8f65. The address is marked as "Hacker: Phemex Hacker" in the Beosin tag library, and the "Phemex Exchange $85 million theft" was the work of the well-known hacker group Lazarus Group. This key finding further confirms our previous inference based on the similarity between the attack mode and the WazirX incident, that the Bybit exchange hacking incident is very likely related to the Lazarus Group. It is worth mentioning that in the Phemex incident, some of the stolen funds were transferred to mixers such as Tornado Cash to conceal their flow. For the Bybit incident, we are fully prepared. Once the relevant funds enter the Tornado.cash mixer, Beosin will immediately start the fund penetration analysis. The special working group has been equipped with the latest version of the Tornado Cash penetration algorithm, and several professional analysts who have successfully completed fund penetration in similar cases have joined to ensure that the flow of funds can be tracked efficiently and provide strong support for subsequent actions. At present, the Beosin security team is cooperating with the Bybit security team to track funds.

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Bybit, the second-largest cryptocurrency exchange by volume, said it lost nearly $1.5 billion in Friday’s hack

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