Bybit Gets UAE Nod While Hackers Empty Their Pockets
Key Points
- Bybit lost $1.4 billion to hackers despite recent regulatory...
Ever wondered what's worse than losing your crypto keys? Losing $1.4 billion of other people's money while getting a gold star for good behavior. Welcome to the latest episode in crypto exchanges' eternal quest to please regulators while keeping hackers at bay.
From Handshakes to Headaches
Bybit's February has been a rollercoaster that would make Six Flags jealous. Fresh off receiving In-Principle Approval from UAE's Securities & Commodities Authority to operate as a Virtual Asset Platform Operator, they're probably wishing they'd invested more in cybersecurity than regulatory paperwo...
While we have taken every measure to build an AI pipeline that generates credible and accuracte news, we still encourage you to conduct your own research before making investment decisions. InsAIght's content should not be considered professional financial or trading advice.