Blockchain Sleuths Chase Almost $1.5 Billion Stolen from Bybit
Muyao Shen follows the money from the Bybit hack and wonders where it's all going to end up.
Hackers made away with almost $1.5 billion in tokens from the Bybit exchange, the biggest theft in the history crypto. So what exactly are they going to do with it?
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 hours ago
- Yahoo
Circle (CRCL) IPO Soars, Sparks Talk of Crypto Public Listing Boom
Circle (CRCL, Financials), the issuer of USDC, saw its shares jump 245% in its debut weekan explosive public market entrance that could set off a wave of crypto IPOs, according to a new report from Bybit. The Dubai-based exchange, which ranks second globally by volume, said Circle's oversubscribed offering and first-week surge underscore rising institutional appetite for crypto equities. Analysts at Bybit believe Wall Street significantly underpriced the deal, underestimating demand and the sector's valuation dynamics. Advertisement The Circle IPO isn't just about one companyit's a signal that crypto is being taken seriously in traditional markets, the report noted. The Bybit Crypto Insights report names six other crypto-native companies preparing for public listings, including blockchain security firm Fireblocks and data analytics provider Chainalysis. Each is expected to draw multi-billion-dollar valuations amid a friendlier regulatory environment under the new U.S. administration. Bybit says this is a "reset moment" for how investment bankers approach crypto businesses, with conventional valuation models proving insufficient for companies native to decentralized finance. This article first appeared on GuruFocus.
Business Wire
21 hours ago
- Business Wire
Hypernative Raises $40M Series B to Remove Security Barriers to Web3 Mass Adoption
TEL AVIV, Israel--(BUSINESS WIRE)--Hypernative, the leading provider of real-time threat prevention in Web3, today announced a $40 million Series B funding round co-led by Ten Eleven Ventures and Ballistic Ventures, with participation from StepStone Group, and existing investors boldstart ventures and IBI Tech Fund. The funds will support the expansion of the company's offering to include fraud prevention and wallet-level transaction protection—key steps toward building an end-to-end security platform for Web3. They will also fuel improvements to AI models through wider investment into high-quality training data, and support team growth to provide expert-driven risk analysis and customer support. In 2024, Hypernative detected over $2.2 billion of losses from hacks, exploits, phishing, and fraud—a 22% jump from the previous year. Following the $1.4 billion Bybit hack in February, the industry is on track for another record-breaking year of security failures. Hypernative uses AI-powered detection to respond to threats in real time, helping secure transactions and build trust across the Web3 ecosystem. The platform, used by over 200 customers to help protect more than $100 billion in assets, continues to evolve through ongoing integrations. With recent expansion into wallets, exchanges, and payment providers, Hypernative is contributing to a more unified approach to Web3 security. Gal Sagie, Co-founder and CEO of Hypernative, said: 'Web3 is at an inflection point: clear regulation is finally emerging, and institutional adoption is accelerating led by stablecoins and tokenized assets. But security remains the biggest blocker to mass adoption—and Hypernative is on a mission to close that gap.' The funding round follows a number of exciting milestones for the company: Over the past year, Hypernative has more than doubled its network coverage to 60+ chains, including Solana and THORChain, enhancing security with hundreds of detectors to identify the industry's largest set of risks across not just security, but also financial, compliance and governance. The launch of Guardian, a real-time transaction security solution that protects against blind signing by simulating the outcome of every transaction before it is approved. Additionally, the team launched new ways of integrating Hypernative threat intelligence directly into a project's contracts or prior to block inclusion with sequencer integrations, frontend apps, liquidity pools, staking, and more. 'As leading cybersecurity investors, Ten Eleven recognizes how critical a robust security layer is to furthering adoption of Web3 technologies. Hypernative's cohesive approach to real-time threat detection and response positions it as a foundational player in the future of decentralized ecosystems. That's why we are proud to lead the Series B round and look forward to supporting the company through its next stage of growth,' said Mark Hatfield, Co-founder and General Partner of Ten Eleven Ventures. "Hypernative is tackling the single greatest barrier to Web3's mainstream future: trust. As attacks grow more sophisticated, the need for proactive, real-time security has never been more urgent," said Barmak Meftah, Co-founder and General Partner, Ballistic Ventures. "What Gal and the Hypernative team have built is not just innovative, it's foundational to the next era of the internet. We're proud to back them as they scale their platform, expand their AI capabilities, and secure the path to mass adoption." Hypernative's customer base ranges from chains, wallets, and protocols to exchanges, asset managers, and stablecoin issuers. More than 200 Web3 projects already rely on Hypernative for their security, with Aptos, Ethereum, Morpho, Movement, Sonic, Star Atlas, Wintermute, and ZKsync joining the list earlier this year. To learn more about how Hypernative stops Web3 threats before they do any damage, visit: About Hypernative Hypernative is a real-time monitoring, risk detection and automated response solution that identifies threats with high accuracy and gives customers precious minutes to respond before exploits can do damage. The platform tracks both onchain and offchain data sources and uses battle-tested, sophisticated machine learning models, heuristics, simulations, and graph-based detections to identify over 300 risk types, from smart contract hacks and bridge security incidents to frontend compromises, market manipulations and private key theft. For more information, visit About Ten Eleven Ventures Ten Eleven Ventures is the original cybersecurity-focused, global and stage-agnostic investment firm. The firm finds, invests in and helps grow top cybersecurity companies addressing critical digital security needs, tapping its team, network and experience to help build successful businesses. Since its founding, Ten Eleven Ventures has raised over $US1 billion and made over 60 cybersecurity investments across stages worldwide, including KnowBe4, Darktrace, Axis Security, Twistlock, Verodin, Cylance and Ping Identity. For more information, please visit About Ballistic Ventures Ballistic Ventures is a venture capital firm solely dedicated to early-stage cybersecurity and cyber-related companies. The partners have spent their entire careers defending against every cyber threat conceivable. Members of the firm have founded, operated, and funded over 100 successful cybersecurity firms – including Abnormal Security, AlienVault, ArcSight, Fortify, Mandiant, and Shape Security – led over 10,000 security professionals globally, and have 40+ years of experience in venture capital. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more at
Yahoo
5 days ago
- Yahoo
Bitcoin, Ether Bulls Hit With $800M Liquidation as Trump-Musk Tussle Rattles BTC, ETH
A late-night Twitter spat between President Donald Trump and Elon Musk sparked fresh uncertainty in global markets, sending major cryptocurrencies tumbling and wiping out nearly $1 billion in leveraged bets. Bitcoin BTC dropped below $101,000 overnight before bouncing modestly, with DOGE and ADA among the worst hit, down over 6% each in the past 24 hours. The CoinDesk 20 Index, which tracks the largest crypto assets, shed over 5%. Data from CoinGlass shows that traders lost $988 million in liquidations — of which $888 million were long positions — indicative of a wipeout in bullish positions. Exchanges like Bybit and Binance saw the biggest hits, with Bybit alone accounting for nearly $354 million in liquidations. The liquidations largely hit major tokens, with bitcoin leading the pack at over $342 million liquidated in the past 24 hours, according to CoinGlass data. Ether ETH followed with $286 million, reflecting the sharp sell-offs across the broader market. Other tokens like Solana's SOL and Dogecoin DOGE saw $51 million and $27 million liquidated, respectively, as altcoin traders found themselves on the wrong side of the sudden downturn. (Coinglass) XRP XRP wasn't spared either, with $23 million in positions wiped out. The data also shows that high-leverage plays on memecoins, such as 1000PEPE, added to the volatility, as traders rushed to exit. Liquidations to the forced closure of a trader's leveraged position when they can no longer meet the margin requirements. This typically occurs when the price of the underlying asset moves against their position, causing them to lose a large portion, or all, of their initial investment. A cascade of liquidations often indicates market extremes, where a price reversal could be imminent as market sentiment overshoots in one direction. The sell-off comes as Trump accused Musk of going 'crazy' and threatened to terminate government contracts with his companies, while Musk lashed back by linking Trump to Jeffrey Epstein's files. The clash overshadowed what had been a mostly bullish trend for crypto markets in recent weeks, intensifying a profit-taking bout from the start of this week.
