Bybit News: Bybit Requests Return of Hack-Related Fees from ParaSwap DAO

In a recent development, the cryptocurrency exchange Bybit has made a formal request to the ParaSwap decentralized autonomous organization (DAO). The exchange is seeking the return of transaction fees associated with one of the largest exchange hacks in history.

Bybit Asks ParaSwap DAO to Return Hack-Related Fees

Crypto exchange Bybit has submitted a proposal to the ParaSwap decentralized autonomous organization (DAO) asking for the return of fees associated with the biggest exchange hack in history. The proposal, posted on 3 March, seeks approval to freeze and send 44.67 wETH (currently $97,255) to Bybit. These funds are transaction fees that came from the hacker swapping stETH for ETH. Bybit has confirmed the legitimacy of the proposal and provided a LINK for further verification.

Solana Crashes 12% as Daily Trading Volume Surges to $10 Billion

Solana crashed heavily earlier this week, losing 12% in a fortnight and 26% in a month, amid market pressures from the Bybit hack and an incipient trade war. However, it has recovered by 8% today, reaching $148, as the wider crypto market posts a 5% gain in the past 24 hours. The key indicator to watch is its 30-day momentum. With Solana’s volume touching $10 billion today, it seems that demand is finally recovering, positioning the coin for a concerted recovery in the coming weeks.