CoinCruncher: Your Ultimate Source for Crypto, Blockchain, DeFi, and NFT News & Education

February 27, 2025

GRVT Integrates with CoinRoutes to Enable Institutional On-Chain Trading

chainwire

Singapore, Singapore, February 27th, 2025, Chainwire

GRVT (pronounced “gravity”), the world’s first hybrid exchange – a self-custodial CEX and the first fully licensed DEX – is pleased to announce the integration with CoinRoutes, one of the world’s largest crypto order execution management systems (OEMS). This integration enables institutional traders to execute advanced on-chain trading strategies seamlessly through CoinRoutes’ sophisticated trading infrastructure, addressing the surging demand for institutional access to decentralized markets.

Institutional Demand for On-Chain Trading Surges

In January 2025, the total spot trading volume of mainstream DEXs reached $454.1 billion, marking a historic high. This represents a 40% increase from $323.89 billion in December 2024. The demand for decentralized exchange trading among institutions has grown rapidly, prompting major CEXs to introduce DEX functionalities.

Institutions are seeking secure, compliant, and high-performance trading venues to capitalize on opportunities in the evolving DeFi landscape. GRVT’s hybrid model, combining self-custody security with high-speed order execution, offers a trusted gateway for institutions to access on-chain liquidity efficiently.

Seamless Access to GRVT Through CoinRoutes

Institutional traders can now access GRVT directly through CoinRoutes’ interface, unlocking a suite of advanced trading capabilities, including:

Smart Order Routing & Execution Algorithms – Optimized trade execution across multiple liquidity pools.
Market Data Dashboards – Real-time insights and historical data analysis for informed decision-making.
Transaction Cost Analysis (TCA) – Proprietary analytics to measure execution quality and optimize trading performance.
Automated Spread & Multi-Product Trading – Execute complex trading strategies across assets and trading pairs in a single order.
Cross-Exchange Arbitrage & Token Farming – Unlock new yield-generating opportunities across markets.

GRVT’s institutional offering will also provide enhanced API access, funding rate history, and multiple fee tiers to maximize efficiency for institutional traders.

Hong Yea, co-founder and CEO of GRVT, commented, “Integrating with CoinRoutes marks a significant milestone in bringing institutional-grade trading to DeFi. As the world’s first hybrid exchange with full regulatory approval, GRVT is redefining compliant, on-chain trading for both institutions and retail users. By combining our unique hybrid model with CoinRoutes’ industry-leading trading infrastructure, we are setting a new benchmark for institutions seeking secure, efficient, and compliant DeFi solutions.”

Ian Weisberger, co-founder and CEO of CoinRoutes commented, “Institutions have different needs than individuals in order to trade DeFi. CoinRoutes provides those tools with one unified API and a front-end GUI to integrate the multitude of venues where they need to trade, sophisticated risk management tools, the ability to see data and trade the entire global universe of tokens and derivative products, as well as access to sophisticated execution algorithms.”

Michael Holstein, co-founder and CRO of CoinRoutes added, “our clients generate lower risk, higher yield profits with CoinRoutes’ market-leading algorithmic suite of products. Our spread algo allows traders to effect delta-neutral strategies like cross-exchange basis trading, funding rate arbitrage, and farming token rewards. By adding GRVT, we’re providing a valuable and exciting new source of liquidity.”

Two-Phase Incentive Program for Institutional Traders

To better facilitate and encourage institutional adoption, GRVT and CoinRoutes will roll out a two-phase incentive program:

Phase One – Signup Bonuses: Exclusive rewards for new institutional users onboarding through CoinRoutes.
Phase Two – Trading Incentives: Volume-based incentives and rebates designed to encourage high-frequency and large-scale trading.

For more information and to join the GRVT community, visit grvt.io.

Disclaimer: Cryptocurrencies carry high risks. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our Risk Disclosure and Disclaimer in full.

Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.

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About GRVT

GRVT (pronounced “gravity”) is the world’s first hybrid exchange: a self-custodial CEX and the first fully licensed DEX. We aim to enable anyone to buy, sell, trade and invest in financial products, leveraging smart contracts to ensure self-custody, scalability, and security. Traditional finance operates on outdated infrastructure, resulting in high costs and limited accessibility, whereas DeFi grapples with challenges of complexity and scalability. GRVT bridges these gaps and is building a unified global financial system that scales far beyond crypto.

GRVT official website: https://grvt.io/

For media inquiries, contact: press@grvt.io

Social and Community: X | LinkedIn | Telegram | Discord

About CoinRoutes

CoinRoutes is one of the world’s leading crypto trading platforms by volume, empowering traders to trade at 50 different CEX, DEX and OTC venues. CoinRoutes embeds a very short term proprietary price-predictive signal in all algorithms, allowing trades to execute passively under normal conditions but flex to be either aggressive or super passive during high volatility.. Popular features include earning maker fees instead of paying taker, trading thin instruments with limited impact, tracking exchange volumes precisely, capturing basis by spreading, funding rate arbitrage, delta-neutral portfolio hedging, and automated treasury management trades for foundations via DEX and CEX spread trading.

CoinRoutes official website: www.coinroutes.com

For sales inquiries, contact: sales@coinroutes.com

Contact

GRVT
press@grvt.io

February 26, 2025

Bybit Confirms Security Integrity Amid Safe (Wallet) Incident – No Compromise in Infrastructure

chainwire

DUBAI, UAE, Feb. 27, 2025 /PRNewswire/ – Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today issued an important update to the community on the ongoing forensic investigation into the recent security incident. Our preliminary findings reaffirm the integrity of Bybit’s infrastructure while providing crucial insights into the nature of the attack.

The forensic review of the targeted attack by the Lazarus Group concluded that the credentials of a Safe developer were compromised. This allowed the attacker to gain unauthorized access to the Safe(Wallet) infrastructure and totally deceive signers into approving a malicious transaction.

Bybit had engaged third-party forensic experts, including Verichains and Sygnia Labs, to conduct an independent review. Both forensic experts have found no indications of any compromise within Bybit’s infrastructure as confirmed in SAFE’s own statement relating to the compromise of its own environment.

Full report can be downloaded here: https://docsend.com/view/s/rmdi832mpt8u93s7

Bybit’s Immediate Response and Future Measures

Bybit had moved the majority of funds out of its Safe Wallet administered addresses on the day of the incident. Ensuring the safety and security of our users remains our top priority. We actively evaluate alternative wallet solutions for custody that meet the highest security standards.

Bybit is and remains 100% secure. Our preliminary forensics experts have concluded that our infrastructure was not compromised. We will continue to enhance our security measures and collaborate with top security experts to uphold our commitment to user safety.

Statement from Ben Zhou, Co-founder and CEO of Bybit:

“Bybit remains steadfast in our commitment to security and transparency. The preliminary forensic review finds that our system was not compromised. While this incident underscores the evolving threats in the crypto space, we are taking proactive steps to reinforce security and ensure the highest level of protection for our users.”

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media

February 26, 2025

Bybit Takes Aim at Crypto Crime with Launch of Industry-first LazarusBounty.com Platform

chainwire

DUBAI, UAE, Feb. 26, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced the launch of LazarusBounty.com, an industry-first bounty platform that represents a decisive, four-pronged offensive against crypto crime. Underpinned by the firm belief that information transparency is key, LazarusBounty.com is designed to expose illicit activity, hold hackers accountable, and secure digital assets with unparalleled speed and precision.

Information Transparency at the Heart of 4-pronged Ultimate Defense

At the core of LazarusBounty.com is the conviction that complete, real-time transparency empowers the community and transforms the fight against cybercrime. By making every action visible and every transaction traceable, Bybit ensures that the truth is the most powerful weapon against hackers.

1. Powered by Comprehensive On-Chain Security Data

LazarusBounty.com consolidates premier blockchain security databases—including resources from Chainalysis, Arkham, GoPlus, and other top security companies—into a definitive, real-time security wiki. This robust integration empowers investigators and the broader community with critical insights needed to expose and counter illicit transactions.

2. Immediate Activation of Panel of Expert Investigations

When a large-scale breach is reported, LazarusBounty.com mobilizes elite blockchain detectives — such as ZachXBT and Yu Xian (C), founder of SlowMist — to initiate immediate, rigorous investigations. This expert-driven approach serves as a call for those dedicated to unmasking cybercriminals.to arms for those dedicated to unmasking cybercriminals.

3. Decentralized Security Alliance Council on Hand to Consult

Bybit has enlisted chief security officers from major public chains to serve as advisors, forming a formidable, decentralized network that stands united against cybercrime. This alliance reinforces the company’s commitment to transparency and accountability across the blockchain ecosystem.

4. Merit-Based Bounty Reward Leaderboard

The platform’s Hack Leaderboard meticulously tracks contributions and allocates rewards based on the effectiveness of each input in recovering stolen funds. Every verified piece of evidence is logged, spotlighting the bounty hunters actively dismantling criminal operations while exposing those who stand by without contributing.

LazarusBounty.com will also be equipped with an automated notification system that triggers immediate remedial measures once illicit funds are traced to their endpoints. By instantly alerting relevant platforms to freeze or block these assets, the system eliminates the delays associated with manual intervention—ensuring that every second counts in the fight against cybercrime.

Ben Zhou, Co-founder and CEO of Bybit, hopes to send a clear message. “In today’s blockchain landscape, transparency isn’t just a principle—it’s our most potent weapon against cybercrime. With LazarusBounty.com, we are taking a stand to ensure that every transaction is visible and every hacker is held accountable. Our multifive-pronged offensive is a clear message: if you steal, you will be found, and justice will be swift,” said Zhou.

A Proactive Stance Against Cybercrime

The launch of LazarusBounty.com sends a clear, unyielding message: stolen funds will not be tolerated for illegal use. This platform serves as a direct challenge to cybercriminals—a warning that any attempt to exploit the blockchain for illicit purposes will be met with relentless, coordinated action. With this five-pronged offensive, Bybit not only challenges cybercriminals but also sets a new industry standard. Rather than waiting for problems to escalate, Bybit is taking the lead in securing the ecosystem and calls on every vigilant community member to support this mission.

#Bybit / #TheCryptoArk

About Bybit

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

February 24, 2025

Fully Backed Within 72 hours: Bybit Maintains 1:1 Customer Assets Ratio in Latest Proof of Reserves Audited Report by Hacken

chainwire

DUBAI, UAE, Feb. 24, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has completed a fresh round of audit on Feb. 23, 2025 conducted by leading cybersecurity firm Hacken. The independent third-party report is published after Bybit restored reserves levels to a 1:1 ratio for in-scope digital assets within 72 hours following a major incident on Friday, Feb. 21.

A full audit of all relevant wallets containing 40 asset types, by way of proof of liabilities and ownership, verified that Bybit possesses sufficient reserves to cover user assets 1:1 across the board. Key assets including BTC, ETH, SOL, USDT and USDC exceed 100% collateral ratios on Bybit. Held to high standards of transparency and prudence, Bybit reaffirms its commitment to fiscal vigilance and customer protection under all circumstances.

“Bybit fully backs all customer assets entrusted to our platform, maintaining a dynamic ratio of over 1:1,” said Ben Zhou, Co-founder and CEO of Bybit. “We are fortunate to have all-weather friends in a cut-throat industry—our peers and even competitors stood with us during challenging times, and our customers deserve the same level of commitment,” he added.

Key Highlights of Bybit’s 19th PoR Audit:

Comprehensive Audit Process: Hacken conducted an extensive audit of Bybit’s liabilities, utilizing the Merkle tree to verify the integrity of the assets reported.
User Address Verification: Hacken obtained information from Bybit management regarding all public key addresses holding in-scope assets and verified expected blockchain transactions to confirm control and ownership.
Rigorous Validation Procedures: The validation process included a thorough review using the official Merkle proof validation methods, ensuring the accuracy of the reported liabilities.

“Bybit’s focus on transparency through regular Proof of Reserves audits and independent assessments sets a strong standard within the industry. We appreciate being part of this important initiative during this critical period,” said Yevheniia Broshevan, Co-Founder & CBDO at Hacken.

As of Feb. 24, Bybit fully closed the ETH gap of client assets within 72 hours. This was achieved through strategic partnerships with firms like Galaxy Digital, FalconX, and Wintermute, along with support from Bitget, MEXC and DWF Labs, who helped Bybit replenish the reserves in record time. The rapid execution of these funding strategies underscores Bybit’s robust industry relationships and its capability to maintain platform stability during challenging times, reflecting the industry’s shared vision of a new era of reliable financial system.

By prioritizing independent verification and comprehensive audits, Bybit reinforces its commitment to user trust and transparency. The exchange regularly reviews best practices, emergency responses, and security infrastructure to meet the rising challenges and demands in the digital asset industry.

Bybit’s Proof of Reserves: https://www.bybit.com/app/user/audit-report

#Bybit / #TheCryptoArk / #ProofofReserves / #PoR

About Bybit

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media