# Biggest Crypto Hack Ever

*Author: Bankless*
*Published: Feb 21, 2025*
*Source: https://www.bankless.com/es/read/biggest-crypto-hack-ever*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2025/02/image-22--1-.png)](https://www.bankless.com/sponsor/frax-1737128738?ref=read/arbitrums-bold-journey-forward&email=true)

  
Biggest Crypto Hack Ever

  
  Published on Feb 21, 2025

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

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[**Sponsor: Frax**](https://www.bankless.com/sponsor/frax-1737128738?ref=read/arbitrums-bold-journey-forward&email=true) — Fraxtal Ecosystem: Where DeFi Meets AI.

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
Biggest Crypto Hack Ever
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2025/02/Group-14--4-.png)](https://www.bankless.com/dashboard)- 🥷 **Bybit Exchange Hit by Massive $1.5B Hack.** The massive attack is likely crypto's largest dollar-denominated hack ever and North Korea is [likely to blame](https://www.bankless.com/read/bybit-exchange-hit-by-massive-1-4b-hack).
- 🟦 **SEC Likely to Dismiss Coinbase Suit, Exchange Says. **The regulator is poised to [drop its suit](https://www.bankless.com/read/sec-likely-to-dismiss-coinbase-suit-exchange-says) against the popular American exchange.
- 💰** WalletConnect Foundation Banks $10 Million Funding Round. **The startup behind the wallet UX protocol [scored new funding](https://www.bankless.com/read/walletconnect-foundation-banks-10-million-funding-round) from a host of sources.
📸**Daily Market Snapshot: **Crypto prices ended the week firmly in the red, as the market reacted to the Bybit hack which saw North Korea's Lazarus Group pulling off the heist of more than a half-million ETH.

Prices as of 4pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $3.17T
       

  
    
    ↘ 3.2%
    
  

   
    
    ↘ 3.7%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $95,195
       

  
    
    ↘ 3.1%
    
  

   
    
    ↘ 2.0%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,634
       

  
    
    ↘ 3.9%
    
  

   
    
    ↘ 3.3%  

 

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ANALYSIS

  
  

Arbitrum's Bold Journey Forward

  
  
   
     
     Bankless Author: 
     
       [
       
Jack Inabinet](https://www.bankless.com/author/jack)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2025/02/image--16-.png)](https://www.bankless.com/read/arbitrums-bold-journey-forward)Offchain Labs just dropped a massive upgrade for the Arbitrum tech stack, bringing it closer than ever to the coveted “[Stage 2](https://ethereum-magicians.org/t/proposed-milestones-for-rollups-taking-off-training-wheels/11571)” rollup designation! Say hello to BoLD – a newly deployed proving protocol that opens the floodgates for permissionless validation and crushes centralization concerns.

Stage 2 rollups do indeed exist, but they have struggled to achieve meaningful adoption. The largest such example, DeGate’s ZK rollup, custodies less than 1% of Arbitrum’s value and [ranks](https://l2beat.com/scaling/summary) 21st against competitive L2s in terms of total value secured.

With Arbitrum’s BoLD deployment, its L2 ecosystem is on the brink of realizing Vitalik’s scaling endgame: truly decentralized and performant blockspace for the masses. This major technical achievement could crown the Arbitrum tech stack as king among L2s and stands to strengthen the credible neutrality of Ethereum’s rollup construct.

*Let’s break down Arbitrum’s latest upgrade and discuss the lone hurdle the network must overcome to fully decentralize. 👇*

[Read This on Bankless](https://www.bankless.com/read/arbitrums-bold-journey-forward)
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