Bybit News: Hacker Steals $1.04 Billion in Ethereum from Bybit, Successfully Launders Funds Through THORChain

In a major security breach, a hacker has stolen nearly half a million Ethereum from the Bybit trading platform, valued at over a billion dollars. The hacker has since successfully laundered the stolen funds through THORChain, raising serious concerns about the security of digital trading platforms.

Bybit Ethereum Heist: Hacker’s Laundering Scheme Exposed

A hacker infiltrated the Bybit trading platform and stole 499,395 Ethereum (ETH), valued at approximately $1.04 billion. This breach has caused shockwaves in the cryptocurrency community, raising concerns about digital trading platform security. According to Lookonchain, a blockchain analytics firm, the hacker has successfully laundered the stolen ETH through THORChain, a decentralized liquidity protocol.

Ethena Labs (USDe) Partners with Bybit, Heats Up Stablecoin Race

Ethena Labs has announced a partnership with Bybit, allowing users to mint, redeem, and earn USDe natively on the platform through Bybit On-chain earn. This new development comes as the stablecoin race intensifies, with USDe looking to compete with Circle’s USDC and Tether’s USDT. Bybit, which already has over $3.5 billion worth of USDT and USDC, will now distribute Ethena Labs’ USDe, providing seamless, effortless, and limitless opportunities for users of all sizes.