A Bybit payroll fraud scheme funneled $5.7 million into a worker’s personal wallets, funding luxury splurges before authorities uncovered the deception and issued a prison sentence. Bybit Crypto Payroll Fraud Leads to Prison Sentence A former payroll employee has been sentenced to nine years and 11 months in jail for orchestrating a $5.7 million fraud […] Source: https://news.bitcoin.com/bybit-payroll-heist-nearly-10-years-in-prison-for-5-7m-crypto-theft/
The European Central Bank is advancing its digital asset settlement strategy, aiming to streamline transactions, enhance security, and strengthen financial stability across European markets. Digital Asset Settlement Transformed as ECB Embraces DLT Solutions The European Central Bank (ECB) announced on Feb. 20 an expansion of its initiative to facilitate the settlement of distributed ledger technology […] Source: https://news.bitcoin.com/ecb-expands-digital-asset-settlement-a-major-shift-in-european-finance/
Gunzilla Games Web3 director says the biggest problem in blockchain gaming is the lack of “new money coming into the system.” Source: https://cointelegraph.com/news/blockchain-gaming-capital-rotation-musical-chairs-gunzilla-games-interview?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Russia’s Supreme Court is pushing to classify cryptocurrency as property in penal cases, aiming to strengthen law enforcement’s ability to track, freeze, and confiscate illicit digital assets. Russia’s Supreme Court Advances Crypto Legalization Efforts Russia’s Supreme Court has taken an increasingly active role in defining the legal status of cryptocurrency, with its latest efforts focusing […] Source: https://news.bitcoin.com/russias-supreme-court-moves-to-classify-crypto-as-property/
Coinbase’s CEO says winning against the SEC was crucial to protecting U.S. crypto, accusing the agency of overreach and political intimidation. Coinbase CEO Reveals Why Standing Up to the SEC Was Essential Following the U.S. Securities and Exchange Commission’s (SEC) decision to withdraw its lawsuit against Coinbase, CEO Brian Armstrong addressed the situation, explaining why […] Source: https://news.bitcoin.com/coinbase-explains-how-they-beat-the-sec-and-what-it-means-for-crypto/
North Korea’s Lazarus Group, a state-backed hacking collective renowned for its technical sophistication, executed the largest cryptocurrency theft in history by stealing $1.46 billion from Bybit, investigators confirmed. North Korea’s Lazarus Engineered History’s Largest Cryptocurrency Theft The Lazarus Group, a cybercrime unit linked to North Korea’s Reconnaissance General Bureau, leveraged advanced tactics to breach Bybit’s […] Source: https://news.bitcoin.com/north-koreas-lazarus-groups-sophisticated-tactics-behind-1-46b-bybit-crypto-heist/
Bybit scrambled to process over 350,000 withdrawal requests after a massive hack, with executives calling it possibly the worst financial breach ever. Bybit in Crisis Mode—350,000 Withdrawals Flood the System Ben Zhou, CEO of crypto exchange Bybit, provided an update on social media platform X on Feb. 21 regarding the company’s response to a recent […] Source: https://news.bitcoin.com/bybit-faces-historic-withdrawals-350k-requests-and-counting/
OpenSea founder Devin Finzer announced that the SEC is closing its investigation into the NFT platform, calling it “a win for everyone” in the industry. Source: https://cointelegraph.com/news/sec-closes-investigation-nft-platform-opensea?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Lawmakers are demanding urgent FDIC action to end “debanking,” warning that unchecked regulatory power threatens financial access and could be weaponized against lawful businesses. 5 Recommendations to End ‘Debanking’: Congress Pressures FDIC to Act Now House Financial Services Committee Chairman French Hill, along with Representatives Dan Meuser, Andy Barr, and Bryan Steil, have urged the […] Source: https://news.bitcoin.com/congress-pushes-5-urgent-banking-reforms-to-stop-debanking/
Altcoins begin to Send, SEC to drop Coinbase Lawsuit, KAITO & IP soar! BTC nears $100k, ETH continues to outperform. Altcoins start to send as meme activity fades. SEC lawsuit vs Coinbase set to be dropped. 1m BTC reserve may offset $21T debt: VanEck. US will buy 4.2m BTC for reserves: Saylor. Arizona BTC reserve bill heads to Senate. Utah…
