Despite Coinbase's deal with U.S. regulators marking a positive moment for cryptocurrency, the market faced turmoil when Bybit was hacked, leading to a loss of about $1.5 billion. This incident prompted a sharp decline in major cryptocurrency prices, including Bitcoin and Ether, and highlighted the ongoing risks in the crypto space. As political interest in cryptocurrency grows, so does the urgency for a secure market environment, particularly for everyday investors who remain vulnerable to the sector's inherent volatility and criminal activity.
The good news for cryptocurrency investors arrived just after 8 a.m. on Friday: Coinbase, the largest crypto marketplace in the United States, had reached a deal with U.S. regulators to dismiss a lawsuit that had hung over the industry for years. The hack was a reminder that, for all its growing influence in politics, crypto remains something of an international free-for-all a chaotic market in which even the most experienced investors sometimes suffer extreme losses.
Bybit, another leading crypto exchange, said it had been hacked with industry analysts estimating the loss at nearly $1.5 billion, the largest theft in crypto history.
Collection
[
|
...
]