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Bybit Hit by Crypto’s Worst Hack With Almost $1.5 Billion Stolen
Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion (roughly Rs. 13,008 crore) worth of tokens. The Dubai-headquartered platform, which is not available in the US, had roughly $16.2 billion (roughly Rs. 1,40,489 crore) in assets on its exchange prior to being hacked.
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In Largest Crypto Theft In History, Exchange Loses $1.5-Billion Ethereum
Dubai-based cryptocurrency exchange Bybit reported on Friday that hackers stole $1.5 billion worth of digital assets in what marks the largest crypto theft in industry history.
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ByBit Pays Rs. 9.27 Crore Penalty, Completes FIU-IND Registration
ByBit has announced that it has completed its registration with India’s Financial Intelligence Unit (FIU), and paid a Rs. 9.27 crore penalty, as part of its compliance obligations. Earlier this month, the FIU-IND revealed that the Dubai-based exchange was not in compliance with India’s the Prevention of Money Laundering Act (PMLA) because of wh...
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FIU-IND Levies Over Rs. 9 Crore Fine on Dubai-Based ByBit Crypto Exchange Citing PMLA ViolationsÂ
FIU-IND has levied a penalty of Rs. 9.27 crore on ByBit for continuing to operate in India without bringing its operations in compliance with India’s legal guidelines. For now, ByBit’s services here remain suspended. Â
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Dubai-Based Bybit Faces Regulatory Action in Malaysia Over Alleged Unlicensed Operations
The Securities Commission Malaysia (SC) has directed Bybit to disable its services in the Southeast Asian nation. According to an official statement released by the SC, the Dubai-based exchange has been operating its digital asset exchange service (DAX) illegally in Malaysia.
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Dubai-Based ByBit Adds Support for eRupee CBDC Following Feedback from Indian Merchants
ByBit, the crypto exchange based in Dubai, said it has received multiple requests from Indian merchants urging support for eRupee transactions. This eRupee feature for ByBit’s P2P transactions will let merchants accept payments in the form of the eRupee, reducing the risk of their bank accounts being targeted by cybercriminals.
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Crypto Trading Volumes on Centralised Exchanges Reportedly Falling Due to Market Volatility
June saw a monthly decline of 21.8 percent in trading volumes of digital assets. Several macro-economic factors, including the recent slump in Bitcoin’s price, launch of ETFs, and the selling pressure from Germany’s BTC offloading, have emerged as contributors that lowered trading volumes of cryptocurrencies, as per CCData.
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Bitcoin-Backed Velar to Launch Native Token Via ByBit, Lauds India for Quick Tech Adoption
Velar is launching its native token by the same name into the trading arena through ByBit. In the upcoming days, Velar also plans to bring a Bitcoin native trading platform that would let users trade in 20 times more than their capital holding and hope for bigger returns.
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Portuguese Startup Ethena Garners $6 Million in Funding from DragonFly, Huobi for Stablecoin Development
Ethena, a Portugal-based startup working on a USDe stablecoin project has managed to raise $6 million (roughly Rs. 55 crore) in a seed funding round. Dragonfly along with Maelstrom, Gemini, and Huobi have poured investments in this project. The hefty investment in Ethena seemingly testifies to the buzz around stablecoins that has gathered heat in r...
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ByBit Crypto Exchange to Cut Staff by 30 Percent as Market Slump Sees No End
ByBit crypto exchange has decided on laying-off 30 percent of its workforce amid the ongoing crypto winter. The development was confirmed by ByBit CEO Ben Zhou on Twitter. ByBit, the Singapore-based company ranks eight out of 241 exchanges in terms of trading volume on CoinMarketCap and this is its second round of lay-offs this year.
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Bybit Crypto Exchange Joins Coinbase, CryptoCom in Cutting Down Company Work-Force
Bybit, the Singapore-based crypto exchange, is laying-off its employees in order to cut costs during these times of economic slowdown. As of now, Bybit has not disclosed the exact number of employees that have been let go of. Meanwhile, a Bybit spokesperson has reportedly claimed that the company’s fundamentals ‘remain strong’, with over six ...
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UAE Crypto Push Sees Bybit, Crypto.com Announce Dubai Offices
Crypto exchanges Bybit and Crypto.com said on Monday that it will open new offices in Dubai, the latest moves in the UAE's drive to become a centre for the virtual asset sector.
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Bybit Hit by Crypto’s Worst Hack With Almost $1.5 Billion Stolen
Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion (roughly Rs. 13,008 crore) worth of tokens. The Dubai-headquartered platform, which is not available in the US, had roughly $16.2 billion (roughly Rs. 1,40,489 crore) in assets on its exchange prior to being hacked.
-
In Largest Crypto Theft In History, Exchange Loses $1.5-Billion Ethereum
Dubai-based cryptocurrency exchange Bybit reported on Friday that hackers stole $1.5 billion worth of digital assets in what marks the largest crypto theft in industry history.
-
ByBit Pays Rs. 9.27 Crore Penalty, Completes FIU-IND Registration
ByBit has announced that it has completed its registration with India’s Financial Intelligence Unit (FIU), and paid a Rs. 9.27 crore penalty, as part of its compliance obligations. Earlier this month, the FIU-IND revealed that the Dubai-based exchange was not in compliance with India’s the Prevention of Money Laundering Act (PMLA) because of wh...
-
FIU-IND Levies Over Rs. 9 Crore Fine on Dubai-Based ByBit Crypto Exchange Citing PMLA ViolationsÂ
FIU-IND has levied a penalty of Rs. 9.27 crore on ByBit for continuing to operate in India without bringing its operations in compliance with India’s legal guidelines. For now, ByBit’s services here remain suspended. Â
-
Dubai-Based Bybit Faces Regulatory Action in Malaysia Over Alleged Unlicensed Operations
The Securities Commission Malaysia (SC) has directed Bybit to disable its services in the Southeast Asian nation. According to an official statement released by the SC, the Dubai-based exchange has been operating its digital asset exchange service (DAX) illegally in Malaysia.
-
Dubai-Based ByBit Adds Support for eRupee CBDC Following Feedback from Indian Merchants
ByBit, the crypto exchange based in Dubai, said it has received multiple requests from Indian merchants urging support for eRupee transactions. This eRupee feature for ByBit’s P2P transactions will let merchants accept payments in the form of the eRupee, reducing the risk of their bank accounts being targeted by cybercriminals.
-
Crypto Trading Volumes on Centralised Exchanges Reportedly Falling Due to Market Volatility
June saw a monthly decline of 21.8 percent in trading volumes of digital assets. Several macro-economic factors, including the recent slump in Bitcoin’s price, launch of ETFs, and the selling pressure from Germany’s BTC offloading, have emerged as contributors that lowered trading volumes of cryptocurrencies, as per CCData.
-
Bitcoin-Backed Velar to Launch Native Token Via ByBit, Lauds India for Quick Tech Adoption
Velar is launching its native token by the same name into the trading arena through ByBit. In the upcoming days, Velar also plans to bring a Bitcoin native trading platform that would let users trade in 20 times more than their capital holding and hope for bigger returns.
-
Portuguese Startup Ethena Garners $6 Million in Funding from DragonFly, Huobi for Stablecoin Development
Ethena, a Portugal-based startup working on a USDe stablecoin project has managed to raise $6 million (roughly Rs. 55 crore) in a seed funding round. Dragonfly along with Maelstrom, Gemini, and Huobi have poured investments in this project. The hefty investment in Ethena seemingly testifies to the buzz around stablecoins that has gathered heat in r...
-
ByBit Crypto Exchange to Cut Staff by 30 Percent as Market Slump Sees No End
ByBit crypto exchange has decided on laying-off 30 percent of its workforce amid the ongoing crypto winter. The development was confirmed by ByBit CEO Ben Zhou on Twitter. ByBit, the Singapore-based company ranks eight out of 241 exchanges in terms of trading volume on CoinMarketCap and this is its second round of lay-offs this year.
-
Bybit Crypto Exchange Joins Coinbase, CryptoCom in Cutting Down Company Work-Force
Bybit, the Singapore-based crypto exchange, is laying-off its employees in order to cut costs during these times of economic slowdown. As of now, Bybit has not disclosed the exact number of employees that have been let go of. Meanwhile, a Bybit spokesperson has reportedly claimed that the company’s fundamentals ‘remain strong’, with over six ...
-
UAE Crypto Push Sees Bybit, Crypto.com Announce Dubai Offices
Crypto exchanges Bybit and Crypto.com said on Monday that it will open new offices in Dubai, the latest moves in the UAE's drive to become a centre for the virtual asset sector.
