Security incidents are frequent, the market is in a downward trend, it's better to focus on interacting with the testnet and waiting for airdrops.
Author: Alex Liu, Foresight News
Graphic Design: Raven, Foresight News
Note: The "Weekly Trending" statistics are based on user search results on Foresight News from last Friday to this Thursday (February 21 to February 27), and the capitalization of the same concepts has been consolidated.
Security Incidents Occurred Frequently Last Week
Bybit
Last Friday night, on-chain detective ZachXBT monitored the suspicious outflow of over $1.46 billion from "Bybit", which was eventually confirmed to be a security incident carried out by the North Korean hacker group Lazarus Group. Who is the Lazarus Group? Recommended reading: The Story Behind Lazarus Group, the Perpetrator of the Largest Heist in Web3 History.
After the security incident occurred, Bybit took action immediately, and the platform's withdrawal process was not interrupted throughout the entire incident. Recommended reading: How Did Bybit Overcome the Life-and-Death Crisis in Three Days After the $1.4 Billion Theft? Its transparent crisis communication calmed user panic, industry collaboration demonstrated the resilience of the ecosystem, the market's maturity kept investors rational, and Bybit's own financial strength provided a solid buffer.
What exactly caused such a large amount of assets to be stolen? Thorough investigation and attribution can help the industry avoid similar incidents in the future.
Bybit CEO Ben Zhou released a forensic report on the Bybit hack, and the preliminary report concluded that the root cause of the attack was malicious code from the Safe infrastructure. Recommended reading: Quick Read of Bybit's Forensic Investigation Report, Was Safe the Hacker's Breakthrough? This article is the preliminary report of the forensic investigation conducted by Sygnia on behalf of Bybit.
Infini
On February 24, the on-chain banking and payment card project "Infini" was hacked for about $50 million. Its founder Christian stated that their own funds can be used for full compensation.
Airdrops
Security incidents are frequent, the market is in a downward trend, it's better to focus on interacting with the testnet and waiting for airdrops.
Monad
On February 19, Monad announced the official launch of its testnet. On February 26, Monad posted on X that "today is the last day to become an early user of the testnet." Although the time has passed, it does not mean that subsequent participants will not be able to receive Monad token airdrops, it is more likely to be an early bonus, and long-term interaction is still required to qualify for the airdrop. In the end, doing doesn't guarantee success, but not doing guarantees failure. How to interact specifically?
Recommended reading:
Prospecting Manual: Monad, the Heavenly King Public Chain, Launches Testnet, Quick Overview of the Interaction Guide Monad Labs completed a $225 million seed round led by Paradigm in early 2024.
Step-by-Step Guide to Farming Monad! Which Native Applications are Worth Interacting With? More water-drawing channels and Monad-focused ecosystem projects.
More Trending News
- Skate announced the launch of the Skate Yapper leaderboard on the "Kaito" platform, and will distribute 1% of the SKATE token supply to the Yappers on the leaderboard over the next 6 months.
- The spot ETF of "Ethereum" has been in net outflow for the past 6 consecutive days as of yesterday.
- The Story ecosystem "IP" "RWA" protocol Aria announced that it will acquire a portion of the copyrights of the BTS and Steve Aoki collaboration single "The Truth Untold" and tokenize it.
- Andreessen Horowitz partner Witch said that ElizaOS has released version 0.25.8.
- The Layer 2 expansion network "Sonic" based on Solana, the SVM mainnet, has officially launched.
- YZi Labs invested in "Vana", and CZ, the founder of Binance, joined as an advisor.
- The "Sui" ecosystem AI Agent platform FanTV completed a $3 million strategic financing.
- Solana co-founder Raj posted on X that he has joined "time.fun".
- Babylon announced an expansion of the airdrop scope, allowing Pioneer Pass NFT users to receive the NFT airdrop without the need for first-stage staking records, and users can connect their BABY wallet and Polygon wallet on the frontend to claim.
