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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 ...

Rethink traditional approaches, embrace Ai-driven learning models, says minister



AUAE minister outlined a bold vision for the next 25 years during his opening session at the World Government Summit on Tuesday, calling on global leaders to rethink traditional approaches to education, economic growth, and social values considering technological advancements.

In his speech, Mohammad Al Gergawi, Minister of Cabinet Affairs in the UAE, and Chairman of the World Governments Summit Organisation questioned the future relevance of traditional education systems, urging governments to embrace Ai-driven learning models that personalise education at an individual level.


With AI becoming a transformative tool, he predicted a shift where personalised learning experiences will make education more accessible, offering more opportunities for people around the world.

He also discussed the imminent rise of human augmentation technologies, which he believes will redefine both physical and cognitive capabilities. These advancements, Al Gergawi suggested, will lead to a new era where humans may merge with artificial enhancements, improving productivity, longevity, and even creativity.


As these technologies evolve, societies will face new ethical challenges, but they will also gain unprecedented solutions to pressing global issues. He said, “We are transitioning from one phase to a completely different one in the history of human civilisation.”

Looking ahead, Al Gergawi shared key projections about the global landscape for the next quarter- century.


The world's population is expected to hit 10 billion by 2050, with the majority of growth occurring in Asia and Africa. This demographic explosion will inevitably affect jobs, consumption patterns, and the global economy. The UAE is already preparing for these challenges by focusing on sustainable growth models and future-proofing its workforce.

By 2050, more than 20 per cent of the global population will be over 60 years old, a demographic shift that poses significant challenges to health and social systems. As the elderly population expands, governments will need to strengthen their healthcare infrastructure, pension systems, and social services to cater to this growing need.


Another major shift Al Gergawi foresaw was the rise of robotics, predicting that over 20 billion robots will be in operation by 2050. These robots will not only revolutionise industries but will also have a profound impact on labour markets and skill requirements. The UAE'S investment in robotics and AI demonstrates its commitment to staying ahead of these changes and preparing its people for the future.

While Al Gergawi acknowledged unprecedented prosperity, education, and healthcare improvements over the past decades, he stressed that global efforts must continue to address extreme poverty. With 630 million people still living in extreme poverty, he called for a more value-driven global agenda. Eradicating hunger and disease, he noted, would require around $800 billion annually.

However, this figure isn't as daunting as it seems. Al Gergawi proposed that if the world's 50 largest economies allocated just one per cent of their GDP to humanitarian causes, it would amount to $880 billion — more than enough to meet these urgent challenges.

The UAE, already leading the way in this regard by allocating 1.5 per cent of its GDP to humanitarian relief, is setting an example for the rest of the world to follow. “The decision is in our hands.” Al Gergawi said.


Al Gergawi also challenged the traditional notion that economic growth is the sole measure of a country's prosperity. Research shows that the largest economies are not necessarily the most stable or the wealthiest societies.


Moreover, with over 200 million people suffering from mental health disorders globally, Al Gergawi stressed the need for governments to adopt a broader perspective on growth — one that considers social stability, mental health, and the overall quality of life.


He also pointed out the troubling decline in public trust in governments over the last two decades, with the Trust Index report revealing that global trust in governments is now just 52 per cent. This erosion of trust has contributed to the rise of populist movements and protests around the world. Rebuilding trust, Al Gergawi emphasised, is critical for the future of global governance.

Addressing the devastating impact of wars and conflicts, Al Gergawi reminded the audience that over two million lives have been lost over the past 25 years due to violence, with 120 million people displaced.


Yet, despite these tragic consequences, only four per cent of conflicts have ended with peace agreements. The message was clear: diplomatic solutions must take precedence over violence, and global efforts should focus on conflict prevention rather than resolution.

Al Gergawi reinforced that the future of humanity will be shaped by the decisions made today.




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