Bybit Hack, Crypto’s Biggest Ever, Spoils Coinbase’s SEC Victory Party
- Shares of largest US exchange plunge after Bybit is attacked
- ‘Careful what you wish for’ with deregulation, professor says
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The crypto industry started its Friday in a jubilant mood, with Coinbase Global Inc.’s announcement that US securities regulators were poised to dismiss a legal case against the nation’s largest digital-asset exchange.
The happy vibe didn’t last long, however: Less than three hours later and halfway around the world, the exchange Bybit disclosed that it had been hacked in what analysts say was the biggest-ever theft in the industry with almost $1.5 billion worth of tokens looted.