June18 , 2026

Bybit Afloat: Dubai Crypto Firm Survives Despite Historic Hack

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Sagrada Família Nears Completion, Homes face Demolition Keywords: Sagrada Família, Barcelona, Glory Façade, Pope Leo, housing, Gaudí Brief: Stone towers above apartment roofs; a narrow street meeting a monumental façade.The Sagrada Família's near-completion is a triumph of persistence, but the unresolved Glory Façade dispute keeps turning celebration into an argument about homes and urban justice.Pope Leo XIV held Mass at the Sagrada Família on Wednesday and offered his formal blessing to the Tower of Jesus Christ, making it the world's tallest church at 172.5 metres, overtaking Ulm Minster in Germany. The ceremony fell exactly 100 years after Antoni Gaudí's death, and fireworks lit up the Barcelona skyline as crowds gathered beneath the basilica's newly completed central spire. The tower itself had been structurally finished on 20 February; Wednesday's ceremony was its inauguration by the 11th pontiff to reign since the project broke ground in 1882. Reuters, AP, and Euronews all treated it as one of the architectural events of the year. The harder question lies a few streets away. All 18 towers are now structurally complete, and the full interior is open to visitors. But the Glory Façade, designed as the basilica's grand main entrance and considered the most complex element of Gaudí's original plan, remains under construction and is estimated for completion between 2034 and 2035. At its centre sits a monumental staircase still caught in an unresolved urban planning dispute with Barcelona city authorities. Some proposals linked to the staircase could require demolition of residential buildings directly across from the basilica's entrance. Completion Is Not the End The staircase is not a decorative detail. It would connect the Glory Façade's elevated entrance to street level while allowing traffic to pass beneath, a solution the Construction Board describes as technically necessary but which residents and city officials have not yet approved. The dispute has intensified as the basilica's public profile has peaked. For residents, the lack of certainty about what demolition, if any, will be required is itself the problem: they have been living under the uncertainty of an unfinished nineteenth-century vision for decades, and the celebration above does not resolve the planning question below. This matters because Barcelona is not an empty museum. It is a living city in which monumental ambition still has to negotiate with residents, streets, and housing pressure. The closer the basilica comes to completion, the more urgent it becomes to ask whether finishing Gaudí's final vision should still be allowed to displace present lives in a dense modern neighbourhood. The Papal Visit Changes the Mood, Not the Facts Pope Leo's blessing matters symbolically because it wraps the basilica in spiritual endorsement at the moment its image is most triumphant. He called it an "architectural masterpiece." Euronews described the ceremony as the culmination of a historic public celebration. The visit also coincides with a centenary of Gaudí celebrations across Barcelona, with exhibitions and cultural events honouring the architect's legacy throughout 2026. That ceremonial weight is real, and it makes any remaining obstacle look, from a distance, like obstruction rather than a legitimate civic question. Once a building becomes a near-sacred symbol of national and religious pride, the neighbours who resist elements of its completion risk looking selfish by comparison. That imbalance is precisely why the housing issue matters. A masterpiece does not automatically justify everything done in its name. A Triumph with an Asterisk The Sagrada Família deserves admiration. Its endurance, craftsmanship, and symbolic power are extraordinary, and this week's milestone is genuinely historic. But historical grandeur does not remove the moral complication at the project's edge. Barcelona can celebrate the nearing completion of Gaudí's masterpiece whilst still asking what a twenty-first-century city owes to the people who live in the path of an unfinished nineteenth-century vision. The church may be approaching the finish. The argument around it plainly is not.Keep up with Daily Euro Times for more updates! Read also: Southern Europe Drying: How Real Is the Water Crisis? Roman Angel Resembling Meloni Painted Over Shattered Ceasefire: Lebanon Reports Hundreds of Israeli Breaches

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Dubai-based cryptocurrency exchange Bybit fell victim to the biggest crypto theft in history last week when hackers swiped a staggering $1.5 billion worth of Ethereum from the platform’s digital wallets. 

Despite the breathtaking scale of the attack, the world’s second-largest crypto exchange by trading volume has now fully restored its reserves and returned to normal operations.

Hackers Break Through Wallet Security During Transfer

The breach occurred during what should have been a routine transfer between Bybit’s “cold” wallet (offline storage) and a “warm” wallet used for daily trading. Attackers took over an Ethereum wallet and whisked away the funds to an unknown address.

The stolen assets were swiftly moved through several wallets. According to blockchain analytics firm Elliptic, the funds were initially sent to 50 different wallets, with each holding nearly 10,000 tokens.

CEO Ben Zhou confirmed the hack on social media, stating: "Bybit is solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss."

Recovery Efforts Get Underway With Bounty Offer

Bybit has called on “the brightest minds in cybersecurity” to help recover the stolen funds. The company put up a hefty $140 million bounty for ethical hackers who can help bring back the missing crypto.

The exchange created a new interface showing suspicious wallet addresses to help security experts track down the stolen coins. This list comes from work done by top “white hat” hackers and investigators within three days of the theft.

Exchange Rebuilds Reserves In Remarkable Turnaround

In an impressive display of financial strength, Bybit has already fully restored its Ethereum reserves following the attack. The company secured approximately 446,870 ETH through a mix of loans, large investor deposits, and direct purchases.

The exchange bought 157,660 ETH through over-the-counter deals with crypto investment firms Galaxy Digital, FalconX, and Wintermute. It also bought another $304 million worth of ETH from centralised and decentralised exchanges.

North Korean Hackers Likely Behind The Attack

Security experts have linked the attack to North Korea’s infamous Lazarus Group; a state-backed hacking team known for funding the country’s nuclear programme through digital theft.

Blockchain analytics firms Arkham Intelligence and Elliptic have pointed to the group’s involvement, noting that the methods used match their known tactics.

The Lazarus Group was also responsible for the previous record-holder for largest crypto theft—a $615 million hack of the Ronin Network in 2022. That hack now stands as the second-largest in crypto history.

Customers Rush To Withdraw Funds After News Breaks

As word of the attack spread, Bybit processed over 350,000 withdrawal requests within 12 hours. Yet despite this flood of withdrawals, the exchange handled all transactions without major delays.

"Despite the surge in withdrawal requests, the exchange ensured that all transactions were completed without significant delays," the company said. "Bybit's operations quickly returned to normal, with client activity rebounding to pre-hack levels within 24 hours."

Dubai Regulators Keep Close Watch On Events

Dubai's Virtual Assets Regulatory Authority is "actively monitoring" the situation, which it describes as a "highly evolving matter that we will continue to closely track until it stabilises."

Bybit does not yet hold a regulatory licence under VARA but is working towards getting a Virtual Asset Service Providers operating permit. The firm currently is provisionally approved for virtual asset exchange services in Dubai.

The hack comes at an interesting time for stablecoin regulation in Dubai. Just days after the attack, Dubai’s financial authorities approved Circle’s USDC and EURC as the first regulated stablecoins under the Dubai International Financial Centre’s crypto token system.

This incident, though shocking in its scale, shows both the risks and resilience in today’s crypto world.

Bybit, founded in 2018, has grown to serve over 40 million users worldwide and has stood up well to this test of its financial strength and crisis management skills.

Keep up with Daily Euro Times for more updates!
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