FTX Users' Debt Kurs FUD

Non-KYC centralized exchange eXch has denied accusations that it’s laundering funds from the Bybit hack on behalf of the Lazarus Group. This was in response to social media accusations that it had moved over $30 million from the exploit. eXch’s Response In a Feb. 23 announcement posted on the Bitcointalk forum, the eXch team said it is “Not laundering money for Lazarus/DPRK.” Before the statement, blockchain investigator ZachXBT had alleged in a February 22 Telegram post that eXch processed $35 million of the stolen funds and mistakenly sent 34 ETH worth $96,000 to another exchange’s hot wallet. Other analysts and blockchain security firm SlowMist also reported that eXch received ETH from wallets associated with the Bybit incident. Nick Bax, a member of the Security Alliance white hat hacker group, estimated that the platform handled about $30 million for North Korea on that day. SlowMist further claimed that a significant amount of ETH had been converted into other cryptocurrencies on eXch. In response, the exchange dismissed the accusations as a “targeted FUD attack” and clarified that the transaction in question was not linked to them. However, the team acknowledged that a small portion of the stolen funds had entered their platform but maintained that it was an isolated case and the only transaction from the incident processed by eXch. The team also criticized ZachXBT, labeling his statements as unfounded and advising the community to verify information from credible sources instead of relying on amateur researchers. CZ’s Solution The Bybit hack is now the largest crypto theft in history, with attackers stealing more than $1.4 billion after gaining control of the exchange’s Ethereum multisig cold wallet. Meanwhile, Binance founder Changpeng Zhao (CZ) has advocated for withdrawal pauses following the incident. In a February 21 post on X, the former executive commented: “Not an easy situation to deal with. Might suggest to halt all withdrawals for a bit as a standard security precaution. Will provide any assistance if needed. Good luck!” However, there have been concerns that this solution would cause panic. Addressing the criticism, Zhao clarified that his recommendation was based on experience and intended to ensure system integrity. The Binance founder shared an example from 2019, when his exchange temporarily suspended withdrawals following a $40 million hack, later observing more deposits than withdrawals once operations resumed. However, he emphasized that every situation required a judgment call and expressed confidence in Bybit CEO Ben Zhou’s handling of the crisis. He also commended his transparency and calm response, contrasting it with the crisis management approaches of other CEOs, such as those at WazirX and FTX. The post Crypto Exchange eXch Denies Laundering Bybit Hack Funds for Lazarus Group appeared first on CryptoPotato.

The crypto market surprised many by flipping into extreme fear conditions, even though most crypto community members wait for an altcoin season. A sudden price crash across almost all the top cryptocurrencies confused many users, leaving them unsure whether to hold on for a potential upside reversal or to sell their digital assets and avoid further losses. Data from CoinmarketCap reveal that almost all the critical indicators are bearish after Monday’s crypto market crash, which saw the total crypto market cap drop to $2.97 trillion as of writing. The crypto market’s Fear and Greed Index slipped into an extreme fear figure of 29, generating varying opinions from analysts. Related: Altcoin Crash Deepens, But Analyst Says Crypto Market Set to Rebound Soon The altcoin season index remained extremely low, with a value of 23, while the CoinmarketCap 100 Index dropped to $182.7, reflecting a 5.65% decline in the past 30 days. Another bearish indicator is the significant drop in crypto ETFs’ net flow, which tumbled sharply with a $387.6 million outflow on Monday, February 24. Bitcoin lost 5.3% of its value on Monday, reflecting the highest single-day loss for the cryptocurrency since the first week of January. Related: Crypto Market Check: Experts on Bitcoin’s Next Move However, the flagship crypto displayed resilience, staying above the crucial $90,000 support. Analysts expect that level to hold for Bitcoin’s bullish sentiment to remain intact. A break below $90,000 could trigger a further crypto market decline, considering the prevailing FUD. Despite the massive losses, a section of the crypto market believes there is every reason to stay bullish. More so, they consider the extreme fear market condition an opportunity to accumulate more crypto assets following their belief that the bull run will continue. Besides Bitcoin, the top altcoins declined massively on Monday, with Ethereum tumbling to $2,473 in a 9.5% pullback, BNB losing 6% of its value, and Solana crashing by 14%. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

After the launch of Pi open network few days ago, many jealous folks wanted to use FUD against Pi. Unfortunately for them, Pi has remained resilient and continued to rise in value and gain popularity. The Pi community remains strong. If you are a Pi believer, comment on how high the coin will go in the near future.

After the launch of Pi open network few days ago, many jealous folks wanted to use FUD against Pi. Unfortunately for them, Pi has remained resilient and continued to rise in value and gain popularity. The Pi community remains strong. If you are a Pi believer, comment on how high the coin will go in the near future.

After the launch of Pi open network few days ago, many jealous folks wanted to use FUD against Pi. Unfortunately for them, Pi has remained resilient and continued to rise in value and gain popularity. The Pi community remains strong. If you are a Pi believer, comment on how high the coin will go in the near future.