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Bybit Suffers Record-Breaking $1.5 Billion Crypto Heist

Bybit Suffers Record-Breaking $1.5 Billion Crypto Heist

Dubai-based cryptocurrency exchange Bybit has confirmed a massive security breach resulting in the theft of approximately $1.5 billion worth of digital currency, primarily Ethereum. The incident, potentially the largest cryptocurrency theft in history, has sent shockwaves through the digital asset market. Founder Ben Zhou assured users that their funds were “safe” and that the company … Read more

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BYBIT FACES PENALTY

Bybit Faces $1.06 Million Penalty for Violating India’s Anti-Money Laundering Laws

The Financial Intelligence Unit of India (FIU-IND) has imposed a monetary penalty of $1.06 million (₹9.27 crore) on Bybit, the world’s second-largest cryptocurrency exchange, for breaching the Prevention of Money Laundering Act (PMLA), 2005. Bybit operates as a Virtual Digital Asset (VDA) service provider, making it a reporting entity under Indian law.However, the company continued … Read more

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