24th Feb: Blockchain DXB Podcast
😨 Bybit $1.5 billion hack 🟧SEC Drops OpenSea Investigation 🟧Pi Network Rollercoaster ❗Nigeria's $81.5B lawsuit Binance
🚦Feb 21st Bybit was hacked, losing about $1.5 billion worth of Ethereum. This is the biggest cryptocurrency theft recorded, surpassing previous hacks like those on Ronin Network and Poly Network. he hackers used a sophisticated method, tricking Bybit's system by showing a fake transaction interface, allowing them to steal from a secure cold wallet. CEO Ben Zhou mentioned via X
- Bybit has made all liquidation public all info is here https://lnkd.in/dfNzztas Bybit's WebSocket API documentation. It provides details on how to access real-time public data for all liquidations on the Bybit platform using WebSockets,
💡Check out the Blockchain DXB episode for today we share the latest updates. We cover
- What Happened
- A Detailed Examination of the Bybit Hacking Incident and the Lazarus
- Possibility of Ethereum blockchain rollback
- Comparison with other major hacks
- Who Is the Hacker?
- What’s Next for @By bit
🚨Devin Finzer CEO & Co-founder of OpenSea mentioned via Twitter that the U.S. Securities and Exchange Commission is closing its investigation into OpenSea. This is a win for everyone creating and building in our space. Trying to classify NFTs as securities would have been a step backward that misinterprets the law and slows innovation.
- This move is signaling a shift away from classifying NFTs as securities and reducing regulatory risks for creators. This news aligns with Trump’s push for clearer crypto rules. It will boost legal certainty, encouraging NFT growth.
😑Pi Network launched its main net on February 20, transitioning to an open decentralized network, allowing external transactions. Pi coin (PI) surged 45% to $2.10, but quickly fell 52%, dropping to $1.01. Despite a $7.02 billion market cap, Pi's fully diluted valuation (FDV) is $83.07 billion, raising concerns about potential token dilution. The launch opens opportunities for exchange listings and real-world use.
❗Reuters reported on 19th Feb that Nigeria is suing Binance for $81.5 billion, citing tax evasion and economic harm. Authorities claim Binance has a significant presence in the country and failed to pay corporate taxes, VAT, and other dues. The exchange also faces money laundering charges, which it denies. Binance stopped naira transactions in 2024 and is contesting the allegations. Info here https://shorturl.at/Fkzg3
🟠 Two UAE news (See slides)
⚡ Dubai Customs launches "Al Munasiq" platform powered by AI
⚡ Falak, Bayan Platform jointly launch AI investment in KSA report Wamda ومضة
For slides click here: https://shorturl.at/WJtLX

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Blockchain DXB: 🔴 24th Feb 🔴 😨 Bybit $1.5 billion hack 🟧SEC Drops OpenSea Investigation 🟧Pi Network Rollercoaster ❗Nigeria's $81.5B lawsuit Binance