Skip to main content

The $1.5 Billion Bybit Heist: A Wake-Up Call for Crypto Securit

  The cryptocurrency world was rocked by the news of one of the largest heists in its history: hackers stole a staggering $1.5 billion from the popular exchange Bybit. This incident, reported by NBC News, is a stark reminder of the vulnerabilities that still plague the crypto industry, despite its rapid growth and technological advancements. Let’s dive into what happened, what it means for the crypto ecosystem, and how users and exchanges can better protect themselves in the future. What Happened? Bybit, a leading cryptocurrency exchange known for its derivatives trading platform, fell victim to a sophisticated cyberattack. Hackers exploited vulnerabilities in the exchange’s security infrastructure, making off with $1.5 billion in digital assets. While the exact method of the attack hasn’t been fully disclosed, such breaches often involve phishing, social engineering, or exploiting software flaws. This heist is particularly alarming due to the sheer scale of the theft. It not only ...
Post a Comment

AI startup DeepSeek continues to lift tech stocks in China, Hong Kong

 Photo: Reuters

Chinese and Hong Kong stocks were broadly higher on Monday as optimism around Artificial Intelligence (AI) startup DeepSeek continued to lift tech stocks, while better-than-expected inflation data buoyed sentiment.

The Shanghai Composite Index gained 0.3 per cent to 3,313.75 points by the midday break, adding to the 1.6 per cent advance in the previous week.

The blue-chip CSI 300 Index was little changed after fluctuating between gains and losses.

In Hong Kong, the Hang Seng Index jumped 1.4 per cent and the Hang Seng Tech Index rallied 1.8 per cent to a four-month high.

AI-related shares led gains on continued optimism around DeepSeek. Chipmaker Cambricon Technologies jumped 6.2 per cent and AI firm CloudWalk Technology surged to the 20 per cent daily trading limit, leading gains onshore.

ina's three largest telecom operators — China Mobile , China Unicom and China Telecom — gained 1.2 per cent to 5.9 per cent after saying they were working with DeepSeek's open source model to "promote inclusive application of the latest AI technology".

"Onshore market could keep this upward momentum until the Two Sessions in March despite the volatility, boosted by the launch of DeepSeek AI which has increased market confidence," analysts at China Securities said in a note.

Concerns about Concerns about Concerns about US-China trade tensions may also ease in the short term as investors increasingly view tariff threats as negotiation tactics, they said.

Meanwhile, worries about China's deflation eased after data released on Sunday showed consumer inflation accelerated to its fastest in five months in January thanks to the holiday spending.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.38 per cent while Japan's Nikkei index was up 0.05 per cent.

 may also ease in the short term as investors increasingly view tariff threats as negotiation tactics, they said.

Meanwhile, worries about China's deflation eased after data released on Sunday showed consumer inflation accelerated to its fastest in five months in January thanks to the holiday spending.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.38 per cent while Japan's Nikkei index was up 0.05 per cent.

 may also ease in the short term as investors increasingly view tariff threats as negotiation tactics, they said.

Meanwhile, worries about China's deflation eased after data released on Sunday showed consumer inflation accelerated to its fastest in five months in January thanks to the holiday spending.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.38 per cent while Japan's Nikkei index was up 0.05 per cent.

Comments

Post a Comment

Popular posts from this blog

Saving money is one of the worst financial moves': 'Rich Dad Poor Dad' author Robert Kiyosaki

  From the moment we're born, we're destined for greatness - or so the Instagram quote will have us believe. But in reality, the only thing we're truly destined for is mediocrity - both financially and in life. “Get good grades, so you'll get into a good university, land a great job, and secure a comfortable retirement plan.” That's the narrative society hands us. “Live below your means,” they say. “Build a safety net.” Meanwhile, the financial decisions that shape the fate of our world remain confined to the upper echelons of Wall Street and corporate boardrooms. Over the past decade, conversations around money management have gained traction, but financial literacy still remains a topic shrouded in mystery for the average person. So, in a world where personal finance is ignored in classrooms and eroded in the workplace, where does one turn for guidance? Consider Peter, a Dubai resident. Coming from a modest background, Peter knew early on that achieving financial ...
Post a Comment
Read more

Al Fardan Exchange's biggest Ramadan giveback yet — Send more, share more, win more

  In the Spirit of Ramadan, Al Fardan Exchange has announced the launch of its 50-day campaign ‘Ramadan with Al Fardan Exchange’, running from February 10 to March 31, 2025. This initiative serves as a gesture of appreciation for the unwavering support of its customers across the UAE, offering them multiple opportunities to win exciting prizes. As part of the campaign, participants stand a chance to win a Nissan Patrol and 1,000 cash prizes throughout the promotional period. Al Fardan Exchange hosted a special event at its Sonapur Central Branch in Dubai to commemorate the launch of the campaign, recognising five long-standing customers from diverse backgrounds by doubling their last Ramadan remittance transactions. Pioneered by the senior management at Al Fardan Exchange, this initiative honours expatriate workers whose contributions are vital to the UAE's thriving economy.  Hasan Fardan Al Fardan, CEO of Al Fardan Exchange, expressed his sentiments, stating, “Ramadan is a ti...
Post a Comment
Read more

Turn Your Savings into Rewards with Emirates NBD’s Millionaire Account

  In today’s fast-paced world, saving money can often feel like a daunting task. But what if your savings could not only grow but also give you a chance to win life-changing prizes? Emirates NBD, one of the UAE’s leading banks, has introduced an innovative solution to make saving exciting and rewarding: the Millionaire Savings Account. With a staggering prize pool of AED 57 million, this initiative is designed to inspire a culture of saving while offering transformative rewards to its customers.   What is the Millionaire Savings Account?   The Millionaire Savings Account is a unique savings-linked program that rewards customers for their commitment to building strong financial habits. Whether you’re an individual or a business, this account offers you the chance to win big while securing your financial future. The program is tailored to cater to *Emiratis, residents, and businesses*, ensuring inclusivity and equal opportunities for all.   How Does It W...
Post a Comment
Read more