BYBIT - REKT

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Sophisticated hackers orchestrated a precision strike on the exchange, siphoning away 401,346 ETH ($1.11B), 90,375 stETH ($250.8M), 15,000 cmETH ($44M) and 8,000 mETH ($23.5M) in a matter of minutes.

The attackers executed a familiar front-end spoofing attack, deceiving multisig signers into authorizing what they believed were legitimate transactions.

ByBit could only watch as these colossal funds disappeared into a labyrinth of 40+ wallet addresses.

This theft more than doubles the previous record holder on the infamous Rekt Leaderboard, leaving competitors in its wake.

Another exchange, another compromised multisig, another team got gamed.

Haven’t we heard this one before?

Read more »         

            

         Stories and Articles 

• Chinese Ethereum holder spends $6.8M to warn against mass mind control [Read more]
• Crypto community mulls ‘social layer’ solution to memecoin problem [Read more]
• These KOLs will use you as exit liquidity and if you don't understand what's happening you will get rekt [Read more]
• BitConnect crypto scam ringleader tracked to India while authorities seize $190m [Read more]
• He bought 370,000 BTC – for $0.01 each. Then, he blackmailed a U.S. Senator. The Insane Story of Michael Brown – the man who lost $36 BILLION worth of Bitcoin. [Read more] 

            Best of Feed 

• Not trying to push any specific AI agent tokens. But want to see more AI agent development on chain, with real use cases. Real development often happen AFTER the hype has passed. | @cz_binance 810 points•
Google Web3 Lead says its working to “improve Bitcoin wallets” | @pete_rizzo_ 499 points
• This guy was mining 1 Bitcoin every day on his $800 PC in 2011. Back then, each Bitcoin was worth an average of $15. | @TheCryptoLark 376 points
• Delaware is over. Do not incorporate there. Pick red states like Texas or Wyoming. Or global cities like Dubai or Singapore. Or, perhaps, go onchain. | @balajis 317 points
• The big lesson from this cycle for L1s is that you wanna attract users like SOL did. But you somehow want to prevent them from getting scammed to not tarnish your reputation. | @CryptoDonAlt 279 points

Read more in Rekt's Feed» 

It’s the same playbook, every cycle. The influencers with the loudest voices are never investors—they’re exit liquidity architects, moving from one hype train to the next while their followers get left holding the bags. Their business model isn’t trading—it’s monetizing attention, and the moment you believe they’re in it with you, you’ve already lost. 

First, they pick a project—something new, something thinly traded, something that needs liquidity. The shilling begins with vague tweets, cryptic emojis, and “just did some research” posts. You’re meant to feel like you’ve stumbled onto an exclusive opportunity, a hidden gem. The price starts creeping up, and FOMO kicks in. This is where you enter. 

By the time the influencer is making YouTube videos, writing threads, or hosting X Spaces, they’re already unloading their bags. They got in early—probably through a private allocation, an OTC deal, or a whisper from the dev team itself. Now, they need buyers. That’s you. You think you’re early. You’re not. The second their engagement peaks, they’re selling into your buys. 

Then comes the dump—fast, brutal, and completely predictable. The chart flatlines, the influencer “moves on,” and suddenly, there’s radio silence. The project’s Telegram turns into a ghost town. Devs might stick around for a bit, pretending everything’s fine, but without the hype machine, liquidity dries up. Soon, even the most loyal bagholders accept defeat. 

The cycle resets. The influencer finds a new “undervalued” gem, washes the reputation damage off with a few educational posts, and starts shilling again. Rinse. Repeat. The only real winners? The ones who understand the game. 

So how do you avoid being exit liquidity? Watch what they do, not what they say. If they’re pushing a low-cap coin but not showing proof they’re holding, assume they aren’t. If their track record is just a graveyard of failed pumps, assume you’re next. And if they keep finding “the next big thing” every month, realize they don’t care about the tech, the team, or the roadmap. They care about your liquidity. 

Crypto influencers aren’t market analysts. They’re marketers. And if you don’t know who the exit liquidity is, it’s probably you. 

                 Memes and Videos     
How Hackers Stole $1,000,000,000 From Banks

Two men walked into a Taipei bank with masks, but this wasn’t a stick-up—it was part of a billion-dollar cyber heist that spanned over 100 banks across 30 countries. The Carbonak group turned outdated software and careless employees into their personal ATM, draining accounts and hijacking transactions with ease. When the operation finally unraveled, foot soldiers took the fall, but the mastermind vanished into luxury, proving once again that in cybercrime, the smartest thief is the one you never catch. 

We provide an anonymous platform for whistleblowers and DeFi detectives to present their information to the community. All authors remain anonymous. We are all rekt.