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Sygnum Bank, a top digital asset banking firm, has announced further expansion of its platform for off-exchange custody. As per Sygnum Bank, it is broadening the off-exchange custody forum thereof to incorporate Deribit, the biggest exchange for crypto derivatives. The platform took to its official X account to provide the details of this expansion. 📣 News: Sygnum Expands its Off-Exchange Custody Platform to Include Deribit, World's Largest Crypto Derivatives Exchange➡️ Sygnum Bank adds leading crypto derivatives exchange Deribit compatibility to Sygnum Protect, its off-exchange custody platform featuring bank-grade… pic.twitter.com/gmDfsaw1mJ — Sygnum Bank (@sygnumofficial) March 5, 2025 Sygnum Bank Widens Off-Exchange Custody Forum, Adding Derivatives Exchange Deribit By integrating Deribit, Sygnum Bank aims to improve accessibility and security for the institutional traders. This expansion permits these traders to leverage the deep liquidity of Deribit while guaranteeing the safe custody of their assets. In this respect, Sygnum Bank offers Sygnum Protect to minimize counterparty risk by isolating the exchange trading from asset custody. The decision to incorporate Deribit takes place at a point when more people are aware of the resurgence in the counterparty risk. Dominic Lohberger, the Chief Product Officer of Sygnum, commented on this integration, stressing the significance of secure crypto trading. As per the executive, awareness about counterparty risk occurs in cycles, while the recent significant cyber-attack has led to one of the biggest exchange derisking trends since FTX. It reportedly serves as another reminder that isolating crypto exchange from custody is crucial to maintaining security. Based on this, Sygnum Protect also operates as a necessary factor to fortify the robustness of the crypto market. Fully backed by Off-Exchange Solution of Fireblocks The Sygnum Protect’s expansion to add Deribit is reportedly backed by the Off-Exchange solution of Fireblocks. It is a cutting-edge system for automated settlement as well as collateral management. This technology enables seamless transfers without the requirement for modified integration, expediting institutional adoption of authorized solutions for bank custody. Fireblocks CEO Michael Shaulov, pointed toward the importance of the Deribit integration. The executive added that the move lets custodians and exchanges leverage the platform’s standardized integration while requiring no custom development. This boosts institutional adoption for security asset holding through bank custody. Enhancing Risk Management, Transparency, and Security According to Sygnum Bank, Deribit’s integration solidifies its custody forum, aligning with the wider market trends of risk management, transparency, and security. With the gradual maturity of the digital asset market, authorized custody platforms like Sygnum Protect are getting substantial traction. Moreover, they are poised to significantly contribute to promoting the institutional confidence as well as long-term growth across the crypto landscape.

Sygnum has expanded its off-exchange custody platform to include Deribit, the largest Bitcoin and Ethereum options trading platform. Zurich-based cryptocurrency bank Sygnum has expanded its off-exchange custody service by including Deribit to the list of supported crypto exchanges. In a March 5 press release , the bank said the so-called Sygnum Protect leverages Fireblocks’ “Off Exchange” service, letting traders mirror their custodial assets on a trading platform. “Counterparty risk awareness in crypto comes in cycles, and the recent major cyber-attack has triggered one of the largest waves of exchange derisking since FTX. It is yet another reminder that separating crypto custody from exchange trading is essential for security.” Dominic Lohberger, Sygnum’s Chief Product Officer Commenting on the partnership, Fireblocks chief executive Michael Shaulov said the integration shows the strength of the firm’s custody model as exchanges and custodians “can now leverage our standardized integration without requiring custom development — accelerating institutional adoption so assets can be securely held via regulated bank custody.” Sygnum first launched its off-exchange custody service in early 2024. The bank says its Swiss banking license allows it to hold clients’ crypto assets and traditional securities off Sygnums balance sheet, which means these are “bankruptcy remote.” In January, the bank secured $58 million in strategic funding at a $1 billion valuation. Fulgur Ventures was named a “cornerstone investor,” while the proceeds are expected to support multi-region market entry and expand the product portfolio “with focus on Bitcoin-technology,” the bank said.

Lazarus Group launders $138M from the $1.4B Bybit hack. Can regulations stop future attacks?The recent Bybit hack has rattled the cryptocurrency industry. Hackers stole an astounding $1.4 billion and are rapidly laundering their stolen funds. Security researchers, law enforcement agencies, and industry leaders are responding urgently to contain the damage. The FBI and blockchain analysts are tracking and attempting to block these illegal transactions. However, hackers keep exploiting security flaws on decentralized platforms. This breach has reignited concerns about weaknesses in crypto security. Some community members are now urging stronger protective measures and improved risk management strategies to prevent future attacks. Lazarus Group Lanunders Nearly 70% of Stolen Crypto The North Korean Lazarus Group hackers masterminded one of the largest crypto hacks in history and stole $1.4B. Now, Lazarus group launders these stolen funds. EmberCN, a crypto researcher, has analyzed this group’s movements and has presented his findings. According to him, in their latest move, the Lazarus Group has laundered 62,200 ETH worth $138 million. This brings the amount of laundered funds to a staggering 343,000 ETH. With this movement, the hackers covered nearly 68.7% of the 499,000 ETH stolen in the infamous attack. The crypto researcher EmberCN projects that based on the current rate, the total funds will be laundered within three days. Such development is happening despite the FBI’s efforts to curb these hackers’ progress. FBI Calls for Industry Action FBI crypto investigation led to the release of a public announcement and addressed the hacking operation as TaderTraitor. This announcement highlighted how Lazarus Group hackers behind TraderTraitor are distributing the stolen funds in thousands of wallets. Moreover, it also mentions how the hackers have turned the assets into Bitcoin and other assets. These assets are expected to be turned into fiat currency after Lazarus Group launders them. Image 1 – Provided by FBI, published on crypto.news, March 3, 2025 In this announcement, the FBI also asked private companies and RPC node operators for assistance in this case. They provided addresses that were linked to the hackers and their activity. Moreover, the blockchain analytic firm Elliptic has also helped with the tracking process and has marked 11,000 wallets. As such, the FBI asked exchanges and other asset service providers to block any connection to these wallets and addresses. What Went Wrong at Bybit? According to Chainalysis, despite the FBI crypto investigation, the hackers have used various services without KYC requirements to hide their trail. They have used instant swap platforms, cross-chain services, and decentralized exchanges to launder the stolen assets. This incident has also caused discussions among crypto enthusiasts and the community about the security of crypto platforms. The release of a forensic review by Bybit also pinpointed the cause of the safe wallet system, further igniting the discourse. The founder of the decentralized data storage network AR.IO, Phil Mataras, highlighted the importance of tamper-proof storage in mitigating hack impacts. Louis Bellet, a lead architect in a decentralized network, also mentioned how the industry needs stronger security systems. The CEO of Panther Protocol stated that the hack was caused by poor management rather than a flaw in centralized exchanges. He added that it was shocking that Bybit was not using air-thigh security systems. Moreover, he said it is inexcusable for the safe wallet to allow for such security vulnerability. How Digital Assets Can Be Made Safer In the future, Regulators may impose stricter rules on exchanges and decentralized platforms to prevent hacker exploitation. AI-driven security systems and stronger KYC/AML enforcement could become standard to counter cyber threats. Advancements in quantum computing and zero-knowledge proofs might transform security measures, making asset laundering harder for hackers. Authorities and developers will likely collaborate to close loopholes and enhance protection against cyberattacks. The future of digital asset security depends on proactive innovation and global cooperation. The post Bybit Hack: Lazarus Group Launders $138 Million as Crypto Security Fears Grow appeared first on Coinfomania.

A substantial cryptocurrency transfer involved 3 million Solana (SOL) tokens worth $510.36 million that moved into a Binance cold wallet. These notable financial transactions stem from an inactive stake account holding the ownership of those Solana (SOL) tokens which had not participated in any activities for a period of two months. Just In: 3M $SOL, valued at $510.36M, has been deposited into the #Binance cold wallet from a stake account after 2 months of dormancy.This wallet likely belongs to #Binance itself.https://t.co/ooOykh5MVM pic.twitter.com/gfhfZQzKXr — Onchain Lens (@OnchainLens) March 3, 2025 According to Onchainlens, a large movement of SOL tokens from an inactive stake account was observed 10 minutes ago when they immediately flowed to a cold wallet controlled by Binance, one of the biggest crypto exchange platforms worldwide. When the tokens were transferred, an exchange worth $510.36 million occurred in the market. Big transactions have occurred before using this stake account. Analysis of the account reveals various important transfer operations dating back to its history. The same stake account completed a 3 million SOL transaction of $550.65 million two months back. The stake account underwent its most substantial transfer during the previous August when it received 60.027 SOL worth $8.2 million. A pattern for periodic liquidity management appears through various transactions with different amounts and valuations throughout the past year within this stake account. Market Trends and Binance’s Role Such substantial fund transfers generate several possible effects. Fund transfers exceeding market standards tend to generate conjecture among market watchers about whether entities aim to distort prices or prepare for big financial exchanges. The SOL price tends to experience changes when owners release their tokens for open market sale. Users opt for cold wallets because such offline storage methods protect their funds against cyber criminals when they are not connected to the online world. Large institutional activities in Solana transactions provide indications about major players’ ongoing involvement with Solana investments in the face of market fluctuations. Binance plays an essential role because it receives the distributed SOL tokens. The exchange proved its ability to process substantial cryptocurrency volumes, gaining the required market liquidity for executing large-scale transactions and maintaining network stability. Major exchanges continue to demonstrate their vital market health role through their ability to lead the cryptocurrency liquidity functions. A significant movement in the cryptocurrency space occurred when Binance deposited 3 million SOL into its cold storage facility which demonstrates major market players conducting major financial transactions. The crypto market maintains its constant fluidity because big digital asset security measures remain vital to manage economic shifts between major market participants. All elements regarding Solana’s market valuation investor sentiment and network stability will receive close observation from the market as these developments occur.

Investing in $AB Protocol's native token, $AB , presents potential rewards alongside inherent risks, characteristic of the broader cryptocurrency market. Potential Rewards: Innovative Financial Solutions: $AB Protocol aims to provide decentralized financial services, potentially offering users more control over their assets and access to new financial instruments. Market Growth: As the cryptocurrency market expands, early investment in projects like $AB Protocol could yield substantial returns if the platform gains widespread adoption. Potential Risks: Market Volatility: Cryptocurrencies are known for significant price fluctuations, and $AB is no exception. Investors may experience rapid changes in the value of their holdings. Regulatory Uncertainty: The evolving regulatory landscape for digital assets can impact the operations of platforms like $AB Protocol, potentially affecting the value and liquidity of $AB tokens. Security Concerns: The decentralized nature of blockchain technology can attract cyber threats. Vulnerabilities in smart contracts or platform security could lead to financial losses. Considerations for Investors: Thorough Research: Understand the fundamentals of $AB Protocol, including its use cases, technological framework, and the team behind the project. Risk Assessment: Evaluate your risk tolerance, considering the high volatility and potential for significant losses in the cryptocurrency market. Regulatory Awareness: Stay informed about legal and regulatory developments that could impact your investment in $AB . In summary, while $AB Protocol offers innovative financial solutions with the potential for high returns, it also carries substantial risks typical of the cryptocurrency market. Prospective investors should carefully assess these factors in line with their financial goals and risk tolerance.