Weekly Highlights丨Bybit hacked for $1.5 billion; global financial markets in turmoil, Bitcoin falls below $80,000

PANews Editor's Note: PANews has selected high-quality content from the week to help everyone fill in the gaps during the weekend. Click on the titles to read.

Bybit Hacking Incident

The "Butterfly Effect" Caused by Bybit's $1.5 Billion Theft: OTC Groups Will Face a Freezing Wave

This article aims to introduce the hacking incident and its money laundering methods while warning that a large-scale freezing wave targeting OTC groups and crypto payment companies is expected in the coming months.

Bybit Security Investigation Revealed: SAFE Frontend Cloud Service Was Attacked, How to Secure Hundreds of Billions in Multi-Signature Wallets

On February 27, Bybit released a hacking forensic report, pointing to a vulnerability in Safe's infrastructure as the cause of the theft, but it seems that Safe is unwilling to accept this accusation.

The Biggest Hacking Incident in Web3 History: We Witnessed the Greatest Unity

Faced with such a large amount, people realized that this is not only the largest hacking attack in the history of Web3 blockchain to date but also a crisis for the industry.

Tim Beiko Explains: Bybit's Stolen ETH Amount Hits a Historical High, But Why Can't Ethereum Roll Back?

The fundamental reason for this hacking attack is at a higher level than TheDAO and Bitcoin overflow vulnerabilities.

Support for Bybit Reaches $320 Million, Who Are the "White Knights" Everyone Is Talking About?

On the other side of the crisis, the centripetal force of crypto seems to be returning.

How the North Korean Hacking Group Lazarus Conducts Sophisticated APT Penetration Attacks?

Imagine the exchange's cryptocurrency cold wallet as a special vault located on the top floor of a high-end office building.

Interview with Bybit CEO: 72 Hours Filled with Fear and Pressure, How Did Bybit Come Back from the "Gates of Hell"?

"One of my biggest fears is not being able to understand my limits and letting down those who trust me."

For more information about the incident, please check the special topic: Real-time Tracking of Bybit Hacking Incident

Macroeconomic Perspective

Crypto Market Plummets, Over 300,000 Liquidations: Core Causes You Need to Know

This article attempts to clarify the causes of the current downward trend in cryptocurrency and assess the necessary conditions for the market to regain bullish sentiment.

Crypto Market Plummets Again, What Do Industry Insiders Think?

Arthur Hayes believes Bitcoin could drop to $70,000.

Reflections from the Hong Kong Consensus Conference: The Best Era for VC Coins Is Over

The biggest takeaway from this Consensus HK is that it's tough for VCs; saying it's a sea of sorrow is not an exaggeration, contrasting sharply with the P marshals.

Bitwise Chief Investment Officer: Good News and Bad News Amidst the Crypto Market's Significant Correction

All short-term news is bearish, while all long-term news is bullish.

Analysis: A Mysterious Whale Accumulates $340 Million in BTC, But Is the Best Buying Opportunity Not Yet Here?

Traders on social media seem eager to buy the dip, and the mysterious whale has already taken action, but on-chain data analysis platform Santiment believes this does not necessarily mean the best buying opportunity has arrived.

AI and Meme

Backstabbed by Pump.fun, Solana Officially Promotes Time.fun to Explore New Directions for Ecological Growth

The strong support from Solana for Time.fun is not only a powerful response to Pump.fun's liquidity siphoning but also another exploration of growth after the chaos caused by celebrity token launches that severely impacted the Solana ecosystem.

Looking at the Current Potential Projects and Directions of AI x Web3 from the Hong Kong Consensus Conference

What AI projects emerged at the recently concluded Hong Kong Consensus Conference 2025?

From Launchpad to AMM Pool, Pump.fun's Meme Empire Quietly Rises

Pump.fun is no longer satisfied with being a "traffic provider" for Raydium but is trying to become a "controller" of liquidity.

Overview of 6 Emerging Launchpad Platforms: Solana Remains the Main Battlefield, Diverse Gameplay Under the MEME Core

This article reviews six high-profile new Launchpad platforms, primarily focused on Solana, each with unique business models, showcasing innovative attempts in security, gameplay diversity, and accessibility, while still revolving around the MEME core.

The PANews account [MEME Daily] will select daily hot memes for readers to understand the state of the track, click here to view.

Web3 Matters

Binance Tests Pre-Market Trading "Limit Up Mechanism" for the First Time, RED Can Rise Up to 400% in the Three Days Before Opening, Applicability Awaiting Market Testing

Binance announced it will launch a "limit up mechanism" test in pre-market trading for Launchpool, targeting the RedStone (RED) token. However, whether this mechanism will become a long-term feature remains uncertain. Previously, after the Bitcoin crash on March 12, 2020, Huobi introduced some liquidation and circuit breaker mechanisms.

Is Ethereum's Biggest Problem That It Has Caught "Big Company Disease"?

The challenges Ethereum currently faces are similar to those encountered by all large enterprises: overall innovation is hindered, and the management (Ethereum Foundation) is "resting on its laurels," leading to inefficiency.

Solana's Inflation Revolution: SIMD-0228 Proposal Sparks Community Controversy, 80% Increase in Issuance Hides "Death Spiral" Risks

What seems like a "smart issuance" blueprint has ignited intense debate in the community regarding "inflation spirals" and interest conflicts.

Why Am I Firmly Optimistic About Ordinals? The Battleground of Miners, KOLs, and Gamblers, and Personal Declarations During the Low

Ordinals is not just a simple protocol; it mirrors the essence of the crypto market—greed, manipulation, and power intertwine, yet it is also a battlefield of opportunities.

Top Market Makers Entering the Crypto Market, What Impact Will Castle Securities Bring to the Industry?

Castle Securities' shift from observation to participation is not coincidental. The institutionalization of the crypto market, gradual clarity in regulation, and competitive pressure have collectively driven this process.

Interview with KIP Protocol CEO: Unveiling the Libra Project's Multi-Party Relationship Network, Joined Two Days Before Token Launch, Did Not Control Funds but Was Pushed to the Forefront

After the Libra incident, PANews conducted an interview with KIP Protocol's CEO Julian Peh, who responded positively to the event, stating that KIP did not initiate the Libra project or Project Viva La Libertad. KIP was only invited to join the project on February 13 and did not profit from it, yet was artificially pushed to the forefront.

Technical Trends

Technical Stack Expansion: Overview of zkTLS Principles and Potential Application Scenarios

In general, zkTLS is a new technology that combines zero-knowledge proofs (ZKP) and TLS (Transport Layer Security Protocol), primarily used in the Web3 space to verify the authenticity of off-chain HTTPS data in an on-chain virtual machine environment without the need to trust a third party.

Delphi Digital: Analyzing the New Architecture of ElizaOS v2, How Will It Change the New AI Economy?

The next phase of ElizaOS will focus on deeper automation, intelligent governance, and exploration of more new fields.

Why Are Top VCs Like Pantera Betting on Altius? Unveiling How Modular Execution Layers Can Break Blockchain Performance Bottlenecks

With $11 million in funding and created by former Amber Group executives, is Altius building a plug-and-play "central kitchen" execution layer?

Open Intents: Can ERC-7683 Become the "Walmart" Supermarket for Intent Coordination Across Ethereum Chains?

The Open Intents Framework promotes intent coordination across Ethereum chains through the ERC-7683 standard, providing more efficient cross-chain trading solutions for DeFi.

From Cosmos to Ethereum: How Does Initia Integrate the Advantages of Two Major Ecosystems?

If Ethereum is the "world computer," then Initia is the "world conductor."