The Bybit hack is officially the largest crypto heist in history, with over $1.46 billion stolen. This accounts for 16% of all previous crypto hacks combined. The magnitude of this breach is unprecedented, shaking confidence in crypto security. Here’s what happened, what we know so far, and why this event could change everything. The Timeline…
In the volatile world of cryptocurrency, security breaches and hacks are unfortunate but frequent occurrences. However, the way a company responds to such crises determines its long-term credibility and survival. Bybit recently found itself in the midst of the largest hack in crypto history, but instead of succumbing to panic and confusion, the company executed…
The Nigerian government has filed a lawsuit against Binance Holdings Limited, demanding $79.5 billion in damages for alleged economic losses and $2 billion in back taxes for 2022 and 2023. The case, filed at the Federal High Court in Abuja, accuses the cryptocurrency exchange of tax evasion, regulatory violations, and contributing to the naira’s instability….
In 2004, Harvard students Tyler and Cameron Winklevoss had a vision for a social network that could revolutionize online communication. They hired a young coding prodigy named Mark Zuckerberg to bring their idea to life. But in a dramatic twist of fate, Zuckerberg launched Facebook without them, igniting one of the most famous lawsuits in…
Tanzanian billionaire Mohammed Dewji became the latest victim of a deepfake scam after hackers took over his X account and used AI-generated content to promote a fraudulent cryptocurrency token, $Tanzania. The breach, confirmed by Forbes, resulted in unsuspecting investors losing $1.48 million. The hackers posted a manipulated video of Dewji apparently endorsing the fake token….
Bitcoin has shattered the $100,000 mark for the first time, driven by optimism that U.S. President-elect Donald Trump will spearhead measures to deregulate cryptocurrencies when he assumes office next month. The cryptocurrency hit $100,010 in early Asian trading on Thursday, continuing a blistering rally since Trump’s election victory on November 5. The digital asset has…
Nigerian authorities have officially dropped charges against Tigran Gambaryan, an executive at Binance Holdings, who had been facing allegations of money laundering. Gambaryan, who serves as the Head of Financial Crime Compliance for Binance, has been in detention since April 2024, but recent developments suggest the charges against him have been stepped down. Gambaryan, alongside…
Australians are falling victim to increasingly sophisticated crypto investment scams, losing over $122 million (AUD $180 million) in just 12 months, according to a recent press release from the Australian Federal Police (AFP). The report reveals that people under 50 are now the primary target of these fraudulent schemes, highlighting a growing trend that younger…
In a shocking case of financial fraud, Tijani Muiz Adeyinka, a manager at First Bank of Nigeria, is on the run after allegedly diverting $29 million (₦40 billion) of customer deposits and converting the funds into cryptocurrency. The sophisticated scheme, which involved fake reversals, went undetected for nearly two years. Following a customer complaint, First…
As the topic of virtual and digital currencies (cryptocurrencies) gains popularity in Nigeria, numerous platforms are emerging that promise rewards in crypto points. These points can supposedly be converted into cryptocurrencies and ultimately turned into cash. The latest trend involves mobile applications where users simply tap their phone screens repeatedly to earn points, which can…