Hacked? Recovered?

What we’ll cover today:

🔍 Bybit’s $1.4B recovery journey

💥 The $49.5M Infini neobank hack

🔐 Why Ethereum can’t reverse major hacks!

1. Bybit Bridges $1.4B ETH Gap Swiftly!

Crypto exchange Bybit, hit by a $1.4B hack suspected from North Korea, recovers using loans, whale deposits and ETH buys.

🚨 Breaking News: Bybit swiftly closed its $1.4B Ethereum gap by receiving huge ETH deposits and loans, ensuring clients’ funds are 100% safe.

⚡ Wire Simplified:

• Bybit lost $1.4B from a suspected North Korean hack.

• They covered the loss with loans, whale deposits, and ETH purchases.

• Lookonchain data confirms massive ETH transfers from multiple sources.

• CEO promises an audited proof-of-reserves report is coming soon.

• On-chain links hint at tactics similar to the Lazarus Group.

✔️ Straight to the Point: Bybit’s rapid ETH gap recovery reassures users, showing strong community support and robust measures against future hacker threats for safety.

2. Infini Neobank Hack: $49.5M Stolen in Crypto Caper!

Crypto neobank Infini, popular for digital banking and stablecoin services, faces a $49.5M hack due to a private key breach.

🚨 Breaking News: Infini neobank suffered a $49.5M hack; hackers swapped USDC for DAI, bought 17,696 ETH and transferred funds to new wallet.

⚡ Wire Simplified:

• Infini lost $49.5M from a smart contract breach.

• The attacker drained USDC, then swapped it for DAI and bought ETH.

• 17,696 ETH was moved to a new wallet.

• The co-founder promises customers will be compensated.

• The incident raises concerns about private key management.

✔️ Straight to the Point: Infini’s $49.5M hack stresses crypto security, urging stricter controls as customers wait for promised compensations and improved safeguards moving forward.

3. No Rollback: Why $1.4B Hack Can't Be Reversed!

Ethereum developer Vignesh Karunanidhi explains why reversing Bybit’s $1.4B hack isn’t feasible, citing valid transactions, network complexity today, clearly indeed.

🚨 Breaking News: Bybit’s $1.4B hack remains irreversible as current Ethereum protocols validate malicious transactions, making rollback technically disruptive and unworkable for now.

⚡ Wire Simplified:

• Developer clarifies that no rollback is possible under current rules.

• Malicious transactions are valid by protocol standards.

• Historical reversals differ from today’s complex blockchain.

• Rapid asset mobility through mixers complicates any recovery.

• Rollback attempts risk wider disruption across the ecosystem.

✔️ Straight to the Point: Technical barriers and network integrity prevent a rollback, emphasizing blockchain immutability and caution as stolen funds continue laundering through channels.