Tesla Tumbles, Crypto Crumbles & The $1.46Bn Heist Shocking the World🚨

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Dear Money Master,

This week, South Korea cut rates, Bitcoin fell below $90K, and Venmo aims for $2B revenue by 2027. Tesla’s market cap dropped under $1T, while Home Depot, AB InBev, and Workday beat earnings expectations.

But the biggest shock? Bybit’s $1.46Bn crypto hack—the largest in history—linked to North Korea’s Lazarus Group. Our Deep Dive unpacks how hackers launder funds and Bybit’s fight for recovery. 🔍

📰 Your Daily Financial Digest - February 26th, 2025

🌍 Economics & Finance:

1. South Korea’s Central Bank Cuts Interest Rates to 2.75% 📉 
   The Bank of Korea reduced rates by 25 basis points, marking its third cut in four meetings, as it anticipates slower economic growth and weaker domestic demand. Read More

2. PayPal Targets $2 Billion in Venmo Revenue by 2027 💰
   Venmo aims to expand beyond peer-to-peer payments, focusing on merchant adoption, debit card transactions, and business partnerships to drive revenue growth. Read More

3. Tesla’s Market Cap Falls Below $1 Trillion 📉 
   Tesla shares have declined 25% year-to-date, pressured by weaker EV sales, disappointing self-driving updates in China, and concerns over Elon Musk’s political ties. Read More

4. Mortgage Rates Hit 8-Week Low but Homebuyer Demand Stays Weak 🏡

   The average 30-year mortgage rate dipped to 6.85%, yet high home prices and affordability concerns keep buyers on the sidelines. Read More

💻 Technology:

1. Alibaba Makes AI Video Model Free for Global Use 🎥

   Alibaba has open-sourced its AI-powered video generation model, Wan 2.1, allowing global developers access. This move ramps up competition in China's AI race. Read More

2. Bitcoin Drops Below $90K Amid Market Uncertainty ⚠️
   Bitcoin slid below $90.000 as broader economic concerns and profit-taking triggered liquidations, with analysts warning of a potential dip toward $80K. Read More

3. Anthropic Nears $3.5 Billion Funding Round at $61.5B Valuation 🚀 
   The AI startup, backed by Amazon and Google, is set to secure massive funding, tripling its valuation and reinforcing investor interest in generative AI. Read More

💹Earnings:

1. Home Depot Beats Q4 Revenue Expectations Despite Housing Slowdown 🏡 
   Sales rose 14% year-over-year to $39.7 billion, exceeding estimates. Comparable sales increased for the first time in two years, but the company expects adjusted EPS to decline 2% in 2025. Read More

2. AB InBev Shares Surge on Strong Q4 Sales 🍻 
   Revenue grew 3.4% to $14.84 billion, despite a 1.9% drop in volumes due to weaker demand in China and Argentina. The company remains confident in global beer consumption trends. Read More

3. Workday Stock Jumps After Strong AI-Driven Q4 Performance 📊 
   Revenue climbed 15% to $2.21 billion, surpassing expectations. AI is fueling demand, with 30% of client expansions involving AI-powered products. The company raised its fiscal 2026 margin forecast. Read More

🔍 Deep Dive: The Bybit Hack – The Biggest Crypto Heist in History

On February 21, 2025, Bybit, a Dubai-based cryptocurrency exchange, suffered the largest crypto hack of all time 🔥, losing $1.46 billion 💰 to cybercriminals. The heist surpassed even historic financial crimes, such as the $611 million Poly Network breach in 2021 and Saddam Hussein’s $1 billion theft from Iraq’s central bank in 2003.

How Did the Hack Happen? 🕵️‍♂️

Investigations suggest North Korea’s Lazarus Group, a notorious cybercrime syndicate, orchestrated the attack using malware 🦠 to manipulate transactions. The hackers intercepted a routine transfer from Bybit’s cold wallet (offline storage) to a hot wallet (online trading funds). Once compromised, the funds were swiftly laundered using a complex multi-step process.

1. Converting Tokens to Native Assets – Stolen funds, originally in tokens like stETH and cmETH, were converted to Ether (ETH) to prevent issuers from freezing assets.

2. Layering Transactions – To cover their tracks, hackers moved the funds across over 11,000 wallets and used cross-chain bridges to obscure the transaction history.

3. Using Anonymous Exchanges – Over $75 million of stolen funds were swapped using eXch, a platform known for laundering illicit crypto assets.

4. Mixing for Anonymity – The funds were gradually converted to Bitcoin (BTC) and are likely to be passed through mixers like Tornado Cash to further obfuscate their origins.

The Battle for Recovery

Bybit is fighting back, declaring “war” on Lazarus Group and deploying aggressive countermeasures:
✅ Blacklist API – A tool to prevent users from transacting with known hacker wallets.
✅ Real-Time Tracking – Blockchain analytics firm Elliptic is actively monitoring stolen funds.
✅ Bounty Rewards – Bybit is offering rewards for tips leading to the recovery of assets.
✅ Forensic Investigations – Web3 security firm ZeroShadow is tracing and freezing stolen funds.

Why It Matters for Investors

North Korean hackers have stolen over $6 billion in crypto since 2017. The Bybit hack highlights the ongoing security risks in the crypto industry and the importance of regulation, surveillance, and exchange accountability. Despite these threats, Bybit has managed to keep operations stable, securing emergency liquidity to maintain withdrawals.

As regulators and blockchain firms tighten security, the battle between hackers and crypto defenders will shape the industry's future. 🚀💰

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To your financial empowerment, The Money Masters Team

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Disclaimer: This information is for educational purposes only and should not be construed as financial advice. Always conduct your own research or consult with a financial advisor before making investment decisions.