Bybit News: Hedera (HBAR) Sees Price Surge Amidst Regulatory Probe Involving Bybit and OKX

Hedera (HBAR) Price Prediction for March 12

Over the last 24 hours, the price of HBAR has increased from below $0.18 to above $0.21, recording a gain of nearly 7.12%. The trading volume has also surged 19.54% in the same period, reaching $673 million. The market capitalization has increased by 7.13% to $8.92 billion. Recently, HBAR’s funding rate has become negative due to the growing bearish sentiment in the cryptocurrency market.

EU Regulators Probe OKX’s Web3 Role in Bybit Crypto Laundering Case

European regulators are closely examining the role of OKX in laundering funds from a massive cyber heist on Bybit. The focus of the inquiry is OKX’s Web3 service, a decentralized finance (DeFi) platform and self-custodial wallet. Reports indicate that hackers, allegedly tied to North Korea, funneled approximately $100 million in stolen cryptocurrency through this platform. National regulatory bodies across the European Union deliberated on the issue during a meeting led by the European Securities and Markets Authority’s (ESMA) Digital Finance Standing Committee on March 6.