BlockBeats News, February 23rd, according to on-chain data, CZ used his donation address today at 00:29:20 to swap 1 BNB for 5,387.79 TST.

During the transaction, CZ commented, "Decentralized exchanges (DEXs) are really hard to use... It took 27 minutes to complete a test buy... But I still haven't figured out how to add to the liquidity pool. And, while you're operating, everyone is watching on-chain."

BlockBeats News, February 22nd, according to an official announcement, Bybit has officially launched the "Bounty Retrieval Program," calling on global cybersecurity and crypto analysis elites to jointly track down the perpetrators of the largest cryptocurrency theft in history.

Contributors who successfully retrieve the funds will receive a 10% reward, with the total bounty amount based on the verifiable amount of recovered ETH, valued at over $1.4 billion at the time of the incident. If all funds are recovered, the total bounty amount could be as high as $140 million.

Bybit CEO Ben Zhou stated that within 24 hours of the incident, the platform had gained strong support from industry-leading individuals and organizations. Through the "Bounty Retrieval Program," we aim to formally reward community members who provide us with professional knowledge, experience, and support. We will not stop here. Interested participants can contact the platform at bounty_program@bybit.com.

BlockBeats News, February 22nd, Bybit CEO Ben Zhou stated on social media, "I agree with CZ's point of view, if this hack was through penetrating our internal systems (such as a part of the withdrawal system) or if the hot wallet was breached, we would immediately halt all withdrawals until the root cause is found.

However, in yesterday's incident, it was our ETH cold wallet that was breached (we use Safe), which is unrelated to any of our internal systems. Therefore, I can decisively decide to have all Bybit withdrawals and system functions operate as usual.

In last night's crisis, Binance and CZ, as well as many partners and industry leaders, voluntarily offered assistance, for which we are deeply grateful and feel incredibly warmed by the support received. This incident was a huge blow to Bybit, but the entire industry has shown the power of unity. I believe that from now on, everything will only move in a better direction."

BlockBeats News, February 22nd, CZ posted an article stating, "Recent events (including ByBit, Phemex, WazirX, etc.) have shown a pattern: hackers are able to steal a large amount of crypto assets from a multi-signature 'cold storage' solution. In the latest ByBit case, the hacker was able to make the frontend user interface display a legitimate transaction, while actually signing another transaction. Although I am not very familiar with other cases, based on the limited information available, they seem to have similar characteristics."

Some people questioned my suggestion to immediately suspend all withdrawals in the event of a security incident (I tweeted this while on the boarding shuttle). My intention was to share a practical response based on my own experience and observation. Of course, there is no absolute right or wrong. My principle has always been to err on the side of safety. After a security incident, all operations should be suspended immediately to fully understand the attack method, identify how the hacker penetrated the system, which devices were affected, triple-check security, and then resume operations.

Of course, suspending withdrawals may trigger greater panic. In 2019, we suspended withdrawals for a week after a $40 million hack. However, when we resumed withdrawals (and deposits), the amount of deposits was actually higher than withdrawals. I'm not saying this method is better; every situation is different and judgment needs to be made. The purpose of my tweet was to share a possibly effective method and express support promptly.

I believe Ben made the best decision based on the information available to him. Ben maintained transparent communication and a calm attitude during this crisis, in stark contrast to CEOs of WazirX, FTX, etc., who were not transparent enough. It is important to emphasize that the nature of these cases is different. FTX is a fraud case, while the WazirX incident is still in litigation, and I prefer not to comment."

BlockBeats News, February 22nd, according to Guangming Net, the Hefei police have launched an investigation into an offline transaction fraud case involving 277,000 USDT.

According to the victim Ms. Cheng, on January 17th, she and her boyfriend conducted a USDT transaction with old friend Sun and his two companions at a café, with the price of USDT being around 7 RMB. During the transaction, Ms. Cheng first transferred more than 7,000 USDT as a test, and after confirming its correctness, she transferred all remaining USDT to the other party.

At this point, Sun claimed that he was unable to transfer the USDT to his companion due to "phone virus infection," and his companion immediately used this as a reason to call the police. After the police arrived, a suitcase containing 2 million RMB was taken away from the scene by Sun's accomplice. The cryptocurrency had been transferred out, and the cash had been taken away, leaving Ms. Cheng in a panic. By the fourth day of the Lunar New Year, through wallet information tracking, Ms. Cheng and her boyfriend saw that the U coins they transferred to Sun had all been transferred out.

BlockBeats News, February 22nd, according to an official announcement, Gate.io's Earn ETH offers a limited-time annualized yield boost. By participating in ETH flexible or fixed-term wealth management, users can now enjoy up to 12% APR with no subscription limit.

Specifically, the APR for flexible ETH wealth management has been boosted to a maximum of 12%, 3-day fixed-term wealth management has been increased to 5% APR, and 7-day fixed-term wealth management has been raised to 6% APR. Join now to effortlessly earn high flexible yields.

BlockBeats News, February 22, According to official sources, Gate.io Launchpool will launch Quai Network (QUAI) mining at 22:00 on February 22, 2025 (UTC+8). Participants can stake QUAI and ETH to participate, with a total reward pool of 500,000 QUAI and an estimated annual yield of up to 456.25%. Rewards are distributed hourly upon staking.

BlockBeats News, February 22, according to EmberCN monitoring, a new address withdrew 10 million USDT from Bybit, then bought 3,655.6 ETH on-chain and immediately transferred it back to Bybit. The average purchase price was $2,735.

BlockBeats News, February 22, Bybit CEO stated that Bitget was the first CEX to lend a helping hand with no interest involved. Additionally, MEXC and Gate.io also offered assistance.

Bitget CEO Gracy mentioned in a Space session that they actively reached out to Bybit CEO BEN to offer help, providing short-term liquidity with no collateral, interest, or commitment required. The liquidity provided could be returned to Bitget whenever Bybit no longer needed it. As of now, Bybit's liquidity is reported to be sufficient, and no further support is necessary.

BlockBeats News, February 22nd, CZ responded to the topic of "Meme Season: Is it CZ's New Outfit" on social media by saying, "I tried memes. But I definitely can't become a true meme user. I never chase quick money. The mindset cannot be replicated.

You may not know, I was never a standard user of CEX either. I am a hodler.

I am a blacksmith. Making tools. Not every blacksmith knows martial arts. A blacksmith who doesn't know martial arts can sometimes still forge a sword. Learning ing"