In the world of cryptocurrency, significant developments unfolded today. Michael Saylor, co-founder of Strategy, signaled an impending Bitcoin purchase with a recent chart post. After a brief hiatus from buying, the company’s current holdings report 478,740 BTC, valued at approximately $45.8 billion, marking a 47% profit on its investment.
Simultaneously, troubling news emerged regarding the Lazarus Group, suspected perpetrators behind Bybit’s historic $1.4 billion hack. The group might also be connected to Solana memecoin scams, as identified by onchain investigator ZachXBT. The investigation revealed that $1.08 million from the Bybit heist was moved to a wallet associated with past memecoin scams on Solana’s Pump.fun platform.
Adding to the complexity, the crypto community has called for a rollback of the Ethereum network in an attempt to reverse damage. This comes as the crypto network reels from February’s $1.5 billion hack impacting Bybit. However, Ethereum core developer Tim Beiko cautioned against such a measure, emphasizing its technical challenges and potential drawbacks. Beiko pointed out the hack exploited a smart contract vulnerability that masked malicious code, yet urged stakeholders to consider the intricate ramifications before pursuing a network rollback.
