CRYPTOCURRENCY
Breaking News: Hackers Steal $1.4 Billion from Bybit in the Largest Crypto Heist Ever
In a shocking development, cryptocurrency exchange Bybit has fallen victim to one of the largest crypto hacks ever recorded. Hackers stole over $1.4 billion worth of Ethereum (ETH) from the platform’s cold wallet. This incident marks a critical moment in the digital asset industry. It raises concerns over cybersecurity measures and market stability.
How the Hack Happened: Exploiting Vulnerabilities
The attack targeted Bybit’s Ethereum cold wallet, which is typically considered secure due to its offline nature. According to Bybit’s co-founder and CEO, Ben Zhou, the hackers exploited a “masked” user interface (UI) and URL. This techniques deceived wallet signers into unknowingly approving a malicious transaction. This clever manipulation allowed the attackers to alter the smart contract logic. As a result, they gained full control of the cold wallet and drained its contents.
Blockchain analysis reveals that the stolen assets include:
- 401,347 ETH
- 90,376 stETH (staked ETH)
- 15,000 cmETH (cross-chain wrapped ETH)
- 8,000 mETH (multi-chain ETH)
In total, the theft amounts to over $1.4 billion based on current market prices, making it one of the most significant security breaches in cryptocurrency history.
Immediate Response and Security Measures
Ben Zhou addressed the incident publicly, reassuring users that other cold wallets remain secure and that withdrawals are still operational. He emphasized that Bybit maintains a 1:1 asset reserve ratio, ensuring that user funds are protected. To cover the loss, Bybit secured a bridge loan that accounts for 80% of the stolen ETH. This move eliminates the need for an immediate large-scale purchase of ETH in the spot market.
Market Reaction: Volatility and Speculation
News of the hack sent shockwaves through the cryptocurrency market, causing heightened volatility, especially for Ethereum (ETH). According to data from CoinMarketCap (CMC), ETH initially dropped from $2,828 to $2,708. This marked a 4.2% decline. However, speculation that Bybit might need to repurchase ETH to cover losses led to a brief rebound of 3.36%. This pushed the price back up to $2,759 within just 10 minutes.
This surge was short-lived. During a livestream, Ben Zhou clarified that Bybit’s bridge loan would cover most of the loss. This reduced the need to buy large amounts of ETH on the open market. This announcement shifted market sentiment, triggering renewed selling pressure. Investors anticipated potential sell-offs by the hacker, and broader risk aversion.
Will the Hacker Sell? Challenges of Liquidating Stolen ETH
The hacker now holds more than 500,000 ETH, surpassing the holdings of Ethereum co-founder Vitalik Buterin, who reportedly holds around 240,000 ETH. The stolen funds have been distributed across 53 wallets. These are being actively monitored by blockchain security firms and smart contract auditing teams.
Selling such a large volume of ETH poses significant challenges for the hacker:
- Real-Time Tracking: Blockchain analytics firms like Chainalysis, Elliptic, and Nansen are monitoring the wallets in real time. This makes it difficult to move the stolen funds without detection.
- Liquidity and Market Impact: Offloading this volume of ETH on the open market would likely cause a major price crash. This would be similar to what would happen if Vitalik Buterin were to sell his holdings all at once—only twice as impactful.
- Alternative Liquidation Methods: The hacker may attempt to use crypto mixers like Tornado Cash to obfuscate the transaction trail. However, regulatory scrutiny and improved tracking technology have made this method less effective.
Timing and Broader Implications for ETH
The timing of the hack is particularly notable, as it coincides with ETHDenver, one of the largest annual conferences in the Ethereum ecosystem. Typically a catalyst for bullish sentiment, ETHDenver often features major project announcements and technological advancements. However, this year’s event is overshadowed by recent controversies within the Ethereum community. There is also criticism directed at Vitalik Buterin and the Ethereum Foundation.
Combined with the Bybit hack, these factors have dampened market enthusiasm. Thus, casting a bearish shadow over an event that usually drives positive momentum for ETH.
The Road Ahead: What Traders Should Expect
The cryptocurrency market is currently experiencing heightened volatility, with traders reacting sharply to both factual developments and speculative rumours. For example, the false assumption that Bybit would purchase large amounts of ETH temporarily drove prices up. However, Ben Zhou’s clarification reversed the trend.
Given the ongoing investigation and uncertainty surrounding the hacker’s next moves, significant price fluctuations are expected in the coming days. Traders, especially those using leverage, should exercise caution and closely monitor developments as the situation unfolds.
Security Lessons and Industry Impact
The Bybit hack serves as a stark reminder of the vulnerabilities that persist in the cryptocurrency industry, even for platforms with advanced security measures. It underscores the need for continuous innovation in cybersecurity. Moreover, it calls for stricter protocols to prevent unauthorized access to cold wallets.
Moving forward, industry stakeholders, including exchanges, regulators, and security firms, must collaborate to enhance protections against increasingly sophisticated cyber threats. Meanwhile, users should remain vigilant. They should ensure they store their assets securely and stay informed about the latest developments in digital asset security.
CRYPTOCURRENCY
Bitcoin Surges Past $110K as Market Trading Volume Spikes 50% Overnight
Bitcoin Surges Past $110K as it has officially crossed the $110,000 threshold, a milestone that confirms Bitcoin’s ability to surge past $110K and cement a major comeback in the cryptocurrency space. With daily charts showing a high of $110,500, Bitcoin has broken through the $105K resistance zone with conviction. This sharp move upward highlights how Bitcoin surges past $110K after weeks of consolidation and uncertainty, marking a turning point in what many are now calling a new bullish cycle. Over the past 24 hours alone, Bitcoin has increased by 3.7%. For the week, it’s gained 3.8%, with 5.4% growth in the past 30 days and 34% over the last 90 days. Year-to-date, it’s sitting at a healthy 16% increase. As Bitcoin surges past $110K, investors and analysts are keeping a close watch on how the cryptocurrency continues to evolve.
Historical Context: The Foundations of This Breakout
To understand the significance of this rally, one must consider the historical patterns Bitcoin has followed. In late 2017, Bitcoin reached its then all-time high of $20,000 before tumbling in early 2018. The 2021 cycle saw it explode past $60,000, spurred by institutional ETF involvement and mainstream financial integration through platforms like PayPal. However, macroeconomic tightening and inflationary pressures led to a price contraction in 2022 and 2023, dropping Bitcoin to ranges between $30K and $40K. The run-up to 2025 has been more structured. Following the April 2024 halving, Bitcoin slowly climbed back toward $109K in Q1, briefly derailed by market anxieties, including the February Bybit hack and rising geopolitical tensions.
This time, however, Bitcoin’s trajectory is not just driven by hype but by solid structural shifts, including significant institutional backing, on-chain strength, and macro tailwinds.
Bitcoin Surges Past $110 K as Market Trading Volume Spikes 50% Overnight
The Price & Volume Story: What Just Happened?
In a textbook example of market sentiment flipping from caution to optimism, Bitcoin surged from $105K to $110,500 in what analysts are calling a decisive breakout. Buying pressure accelerated near the $105K support zone, with algorithmic traders triggering further momentum as Bitcoin approached the psychological $110K mark. The most eye-catching statistic? A 50% increase in 24-hour trading volume, now sitting at an estimated $58.5 billion.
This isn’t just a retail-driven spike either. Volume spikes of this magnitude typically reflect increased institutional involvement, making this rally far more sustainable than previous cycles dominated by speculative buying.
On‑Chain & Exchange Supply Dynamics
Behind the scenes, on-chain data reveals even more bullish indicators. The amount of Bitcoin held on centralised exchanges has dipped below 2.5 million BTC—a level not seen since before the 2021 bull run. This drop signals a long-term trend: investors are pulling their coins off exchanges and into private wallets or cold storage, reducing the available liquidity for immediate sale.
This kind of exchange reserve decline has historically preceded price surges. Additionally, Glassnode reports that long-term holders have begun taking modest profits, but with the vast majority continuing to accumulate. The data strongly supports the view that Bitcoin is transitioning from distribution to a fresh phase of accumulation.
Bitcoin Surges Past $110 K
Institutional & Corporate Accumulation Trends For Bitcoin
The real force behind Bitcoin’s 2025 momentum lies in institutional demand. Spot Bitcoin ETFs from names like BlackRock and Fidelity have collectively drawn in over $11 billion in inflows. But the big players aren’t stopping there.
MicroStrategy remains a poster child for corporate adoption. In May, the firm added 7,390 BTC to its holdings at an average price of $103,500. This brings their total to a staggering 576,230 BTC, valued at approximately $63 billion. Meanwhile, Japanese investment firm MetaPlanet is raising $50 million through zero-interest bonds to increase its BTC exposure.
Even unexpected players like GameStop and several unnamed mid-tier firms are ramping up their exposure, all contributing to a supply-side crunch and a mounting wave of conviction-led investment.
Regulatory Tailwinds: Self‑Custody in Focus
In a major shift, US regulators are beginning to acknowledge the importance of self-custody. On 9 June 2025, SEC Chair Paul S. Atkins addressed the DeFi Task Force, stressing that digital asset ownership should align with “foundational American values.”
Atkins criticised outdated regulatory frameworks that slow innovation, instead advocating for clarity that empowers individuals and institutions alike. This emerging narrative around self-custody is creating a legal environment that encourages institutional adoption.
This sentiment isn’t limited to the U.S. either. The EU is implementing its MiCA regulatory framework, and the UAE continues to lead in Web3-friendly licensing through VARA and FSRA. Collectively, these developments are reducing regulatory uncertainty and encouraging long-term capital into the space.
Macroeconomic Backdrop & Bitcoin’s Hedge Role
Beyond crypto, macroeconomic shifts are working in Bitcoin’s favour. The April 2024 halving reduced the block reward to 3.125 BTC, inherently tightening supply. At the same time, the US Federal Reserve is hinting at possible interest rate cuts in response to declining bond yields and persistent inflation.
This macro backdrop increases Bitcoin’s appeal as a hedge asset. As traditional markets face turbulence, capital continues to rotate into Bitcoin as a form of digital gold, especially with its volatility-adjusted correlation to gold climbing over the past two months.
Technical & On‑Chain Metrics Deep Dive
The technicals are equally convincing. Bitcoin recently formed a bull-flag pattern, with a sharp rise from $90K to $105K, a brief consolidation, and then a breakout past the upper resistance line. This is further validated by a golden cross, where the 50-day moving average crossed above the 200-day average.
Momentum indicators like RSI (currently around 57) and MACD suggest there’s still room to run before BTC hits overbought conditions. Futures markets show growing open interest and positive funding rates, implying a bias toward long positions without being dangerously leveraged.
On-chain metrics round out the story. Active wallet addresses are up 8% week-on-week, and Bitcoin’s realised cap has crossed $900 billion, pointing to sustained network value. Whale wallets are steadily growing their balances, with stock-to-flow and NVT ratios supporting the bullish thesis.
Bitcoin Surges Past $110K
Regional Perspective: UAE & Middle East
The UAE is rapidly becoming a global crypto hub, and Bitcoin’s rise only amplifies this trend. VARA in Dubai and the FSRA in Abu Dhabi are already issuing licences to exchanges, custodians, and tokenisation firms. Local platforms like Rain, BitOasis, and Binance MENA offer easy access for both retail and institutional traders.
Family offices and HNWIs in the region are increasingly treating Bitcoin as a core part of their alternative asset portfolios. Some are even exploring Shariah-compliant BTC products or tokenised sukuk-like investment vehicles.
For What’s Hot in UAE, this shift presents huge storytelling opportunities. Think deep dives on UAE’s evolving regulatory environment, interviews with VARA officials, or investor education around cold storage and self-custody. This is the moment to build editorial authority in the region’s fast-moving crypto scene.
Bitcoin Surges Past $110 K as Market Trading Volume Spikes 50% Overnight
Forecasts: $150K by 2025—$250K on the Horizon?
Industry voices are becoming increasingly bullish. James Butterfill, Head of Research at CoinShares, forecasts Bitcoin could reach $150,000 before the end of 2025. Charles Edwards of Capriole Fund adds that Bitcoin’s volatility-to-gold ratio supports another leg upward, particularly if BTC holds above $110K on the daily close.
Standard Chartered also maintains its $150K prediction, while ARK Invest reiterates its long-term $1 million target by 2030. These projections are grounded in increased ETF inflows, strong institutional demand, and improving macro and regulatory conditions.
Here’s a breakdown of forecasted scenarios:
Scenario | Price Range | Drivers |
---|---|---|
Base Case | $120K–$150K | ETF inflows, macro stability, self-custody clarity |
Bull Case | $150K–$200K | Surge in ETF allocations, global liquidity expansion |
Upside Case | $200K–$250K | Rapid adoption, central bank digital currency integration |
Bear Case | $80K–$100K | Macro shocks, regulatory hurdles, profit-taking |
Risks to Watch
Even with this bullish momentum, caution remains prudent. With over 97% of the current BTC supply in profit, some level of profit-taking is expected. External risks like unexpected inflation spikes, central bank missteps, or regulatory crackdowns could also impact sentiment.
Additionally, derivatives markets remain a double-edged sword. Rising open interest increases the risk of liquidations, particularly if funding rates become skewed. And with fewer BTC held on exchanges, there’s also thinner liquidity at the top, meaning sharper swings, both up and down.
CRYPTOCURRENCY
Crypto Meme Coin News This Week
The world of crypto meme coins continues to move at lightning speed, and this week has been no exception in crypto news. From record-breaking price pumps to new exchange listings, meme coin mania is very much alive. Here’s everything you need to know about what’s been trending, what’s been dumping, and which coins are drawing major attention in the meme coin ecosystem right now.
🐸 PEPE Makes a Splash with New All-Time High
This week, PEPE surged to a fresh all-time high, hitting a market cap north of $6.2 billion. The frog-themed coin—initially launched as a joke—has outperformed many top 50 altcoins, driven by FOMO and relentless social media hype. PEPE has seen over 60% gains in the past 7 days alone, according to CoinMarketCap, and is now the third-largest meme coin behind Dogecoin and Shiba Inu.
Large whale movements suggest major accumulation, and crypto analysts predict further upside if Bitcoin stabilises above the $65,000 range.
“PEPE is doing what Dogecoin did in 2021—except faster,” tweeted @CryptoKaleo.
💥 BRETT Launches on New Exchanges
BRETT, the Base-native meme coin that’s become a cultural sensation on Crypto Twitter, was listed on Bybit and KuCoin this week. Its 24-hour volume peaked above $150 million, and it’s now up more than 80% in the last 10 days.
BRETT’s growing popularity is fuelled by the narrative around Coinbase’s Base network and broader bullish sentiment toward Ethereum L2s. The meme coin is also gaining traction as a bridge between meme culture and the on-chain Base ecosystem.
🚀 WEN and TURBO Rebound Strongly
Both WEN and TURBO posted strong comebacks after weeks of stagnation:
- WEN jumped 38% week-on-week after Elon Musk liked a meme referencing the token.
- TURBO reclaimed key support at $0.000090 and is now trending among top gainers on DEXTools.
Investors are speculating these coins could follow similar parabolic paths to PEPE, especially with new DEX aggregators promoting them across Telegram communities.
🐉 Rising Stars: Draggy, Pei Pei, Andy, Landwolf, Hoppy, Bobo & MEW
This week has also seen a new wave of meme coins catching serious momentum, and they deserve their flowers:
- Draggy is quickly becoming a community favourite with its stunning branding and a loyal base of holders rallying behind a playful yet bullish narrative. With NFT integrations and a vibrant roadmap, Draggy could be next in line for a major breakout. Crypto News favours this coin.
- Pei Pei, the cheeky panda-themed token, has exploded on TikTok and Telegram. With its strong meme appeal and unique Asian crossover cultural vibes, Pei Pei is drawing a global following.
- Andy continues to impress with a consistently rising floor and a meme game that rivals the big players. Its developers are rolling out utility features faster than expected, and the community is loving it.
- Landwolf is dominating Twitter spaces with one of the most vocal and unified communities out there. This canine-themed coin is building out a surprisingly deep ecosystem, and whales are quietly stacking.
- Hoppy is making waves as the feel-good meme coin of the season. With its adorable aesthetic and strong influencer support, it’s winning hearts and wallets alike.
- Bobo has transformed from meme underdog to serious contender. Analysts are noting its strong price floor, and its meme virality is reaching all corners of Crypto X.
- MEW (short for “My Ethereum Wallet”) is not just another cute token—it’s fusing meme culture with smart wallet utilities, offering both fun and function in one explosive package.
These rising stars prove the meme coin space is more than just a handful of names. Innovation, creativity, and passionate communities are fuelling this next generation of meme tokens.
📉 FLOKI Faces Sell-Off Amid Ecosystem Questions
Not all meme coins had a bullish week. FLOKI saw a 12% correction as doubts surfaced over its NFT roadmap and staking yields. While the project has deep community roots and strong branding, short-term technicals show signs of a continued retracement unless buying pressure returns soon.
🧠 AI-Powered Meme Coins: A New Trend?
Emerging meme coins like GENIE, AIKI, and CHATPEPE are riding the artificial intelligence wave. Many of these tokens claim to combine humour, decentralised governance, and AI-driven utility—though sceptics warn of vaporware.
One crypto coin to watch is GENIE, which promises to integrate a meme-themed AI chatbot with a decentralised tipping engine. It launched this week with $25 million in trading volume in its first 48 hours.
🔥 Crypto news Community Picks of the Week
Here are the top trending meme coins across Reddit, Twitter, and Discord:
- DOGEVERSE: New multichain meme coin that’s gaining traction for its bridgeability.
- KABOSU: Up 300% month-to-date, driven by nostalgia and Binance rumours.
- MOG: Surging due to memes alone, with zero utility—and proudly so.
- Draggy: Gaining fast with impressive marketing and major NFT hype.
- Pei Pei: Social media darling of the week.
- Landwolf: Dominating meme Twitter, with real community firepower.
- MEW: Combining utility and meme value with explosive growth.
📊 Meme Coin Market Overview (as of this week)
Meme Coin | Market Cap | 7-Day Performance | Current Price |
---|---|---|---|
Dogecoin (DOGE) | $22.1B | +5.3% | $0.154 |
Shiba Inu (SHIB) | $14.3B | +3.8% | $0.0000252 |
PEPE | $6.2B | +62.4% | $0.0000176 |
BRETT | $1.1B | +84.9% | $0.091 |
TURBO | $280M | +40.2% | $0.000098 |
FLOKI | $420M | -12.1% | $0.000212 |
GENIE | $93M | New | $0.0034 |
Draggy | $47M | +33.1% | $0.0043 |
Pei Pei | $38M | +41.7% | $0.000092 |
Landwolf | $52M | +49.3% | $0.00038 |
MEW | $61M | +28.6% | $0.0021 |
(Crypto News Data from CoinMarketCap and DEXTools)
⚠️ Final Thought: Volatility is the Game
As always, crypto meme coins are high-risk, high-reward assets. With rapid market moves, celebrity tweets, and exchange listings swinging prices dramatically, anyone trading these tokens should proceed with caution.
But one thing’s for sure: the meme coin space is far from dead. It might just be heating up again.
CRYPTOCURRENCY
Boys Club Meme Coins: Taking Over the Crypto World
The cryptocurrency market has witnessed the rise of several meme coins, collectively known as the Boys Club. This group includes PEPE, BRETT, ANDY, and LANDWOLF, each carving out its niche by leveraging humour, viral marketing, and strong community support. Here’s a closer look at these coins and their impact on the crypto landscape. The Boys Club Meme Coins: Taking Over the Crypto World.
What Are Meme Coins?
Meme coins are cryptocurrencies inspired by internet memes, cultural references, or jokes. Unlike traditional cryptocurrencies, which are developed with specific technological innovations or financial solutions in mind, meme coins primarily leverage viral marketing and community engagement to gain traction.
History of the Boys Club Art by Matt Furie
Matt Furie, an American artist and illustrator, created the Boys Club art series, which debuted in 2005. The series features a group of anthropomorphic characters navigating humorous and surreal everyday scenarios. Among these characters is Pepe the Frog, who later became an internet meme, catapulting Furie’s work into mainstream awareness. Furie’s Boys Club art is characterized by its playful yet satirical take on contemporary life, blending absurdity with a keen commentary on youth culture. The series has been influential in both the comic and internet meme landscapes.
Boys Club: Origins and Characteristics
The Boys Club refers to the group of meme coins created by male-dominated communities that use internet culture and humour to attract attention and build a strong following. Key characteristics include:
- Humor and Satire:
- These coins are based on humorous concepts or internet memes, creating a fun and engaging experience for users.
- Community-Driven:
- The success of these coins relies heavily on active participation in social media platforms like Reddit, Twitter, and Discord.
- Viral Marketing:
- Utilizing catchy names, funny memes, and engaging content, these coins spread quickly and attract a wide audience.
Prominent Boys Club Meme Coins
1. PEPE:
- Origin: Inspired by the popular “Pepe the Frog” meme, PEPE leverages nostalgia and internet culture.
- Community: Known for its active and humorous community, PEPE engages users through social media and community events.
- Impact: PEPE’s success showcases the power of memes in driving crypto adoption.
2. BRETT:
- Origin: Created as a satirical take on the crypto market, BRETT aims to entertain while providing a viable investment.
- Community: The BRETT community is vibrant and creative, contributing to its viral spread.
- Impact: BRETT highlights the role of humor and community in the crypto world.
3. ANDY:
- Origin: ANDY was launched to capitalize on the popularity of the Andy Warhol-inspired digital art trend.
- Community: Strong community engagement and creative marketing have propelled ANDY’s growth.
- Impact: ANDY demonstrates the potential of art and culture in meme coin success.
4. LANDWOLF:
- Origin: LANDWOLF combines the mystique of wolves with meme culture, creating a unique and appealing concept.
- Community: Enthusiastic supporters and innovative promotions have made LANDWOLF a notable player.
- Impact: LANDWOLF’s rise underscores the importance of originality and community support.
Factors Driving Popularity
**1. Nostalgia and Relatability:
- By tapping into cultural references and humor, these coins create a sense of familiarity and fun.
**2. Speculative Investment:
- The potential for high returns attracts speculative investors, especially with the low initial price of these coins.
**3. Community and Engagement:
- Strong social media presence and active community participation drive loyalty and spread awareness.
**4. Celebrity Endorsements:
- Mentions from celebrities and influencers can significantly boost a coin’s visibility and value.
**5. Accessibility and Simplicity:
- Meme coins are often easier to understand and more accessible than traditional cryptocurrencies.
Potential Risks and Challenges
**1. Volatility:
- Meme coins are highly volatile, with prices driven by social media trends and market sentiment.
**2. Lack of Utility:
- Many meme coins lack clear use cases, relying primarily on speculation and community sentiment.
**3. Regulatory Scrutiny:
- Increased regulatory attention could impact the trading and value of these tokens.
**4. Scams and Fraud:
- The meme coin space is susceptible to scams, making thorough research crucial before investing.
The Future of Boys Club Meme Coins
The future of Boys Club meme coins is uncertain yet promising. Their success will depend on their ability to maintain strong communities, provide value, and navigate market and regulatory challenges. As the cryptocurrency market evolves, these coins will likely continue to drive innovation and community engagement.
Conclusion
Boys Club meme coins, including PEPE, BRETT, ANDY, and LANDWOLF, have captured the crypto world’s attention through humour, community, and viral marketing. While offering exciting opportunities, they also come with significant risks. Potential investors should approach these coins with caution, conducting thorough research and being prepared for volatility.
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