The crypto market was down 3.6% in the past 24 hours, with the total market cap at $3.3 trillion. Top alts, including Ethereum, XRP and Solana have shown strength amid minor dips.
Given the industry had just witnessed $1.4 billion stolen from Bybit – the largest ever hack in the history of cryptocurrency – the resilience has investors even more bullish.
As traders monitor the situation, part of the attention is on iDEGEN (IDGN). The AI agent token has attracted a notable $24 million in presale so far. But what’s making it trend?
Per the iDEGEN presale page, the project lists on exchanges on February 27, 2025.
Industry lauds Bybit’s response after $1.4 billion hack
On Feb. 21, Bybit confirmed it had suffered the largest ever hack in crypto history. Just hours later, crypto investigator ZachXBT returned with details of who the hackers were.
According to the blockchain sleuth, the 401k ETH worth over $1.4 billion looted from Bybit was linked to the Lazarus Group. The North Korea-backed hacker collective is reportedly behind the Phemex hack and many others.
But the $1.4 billion hack stands out as the largest, with the heist accounting for 16% of all reported hacks. That is terrifying. However, despite an initial panic and flurry of outflows from Bybit, the exchange has received plaudits for how it handled the aftermath of the attack.
Bybit processed withdrawals
From Bybit CEO Ben Zhou personally taking charge of updates to official communication, Bybit looks to have managed the situation better than many previous hacks.
The exchange also maintained it was solvent and could handle withdrawals for its customers, with assets backed 1:1.
Also importantly, industry players and rival exchanges all came out ready to support. In an update, the Bybit CEO said support via bridge loans had helped the exchange raise amounts equivalent to 80% of hacked funds. Bitget also sent 40,000 ETH worth over $105 million as part of the support.
With Bybit looking to navigate the incident , investors are bullish. The projection is that 2025 is still a bull market and the coming months could be massive.
iDEGEN raises $24 million ahead of exchange listing on Feb. 27
iDEGEN, with the native token IDGN, is an artificial intelligence-powered project in the trending AI agent market….