Crypto Exchanges: Security Breaches, Exciting New Listings & Big Expansions

Ripple USD (RLUSD) Set for New Listing on BitMEX

Ripple Labs is pushing forward with its stablecoin RLUSD, as BitMEX, a top crypto exchange, has announced plans to list the token. The announcement was teased on X on May 19, with the exact launch date yet to be revealed. This follows a recent listing on Gemini, which opened RLUSD access to millions of users globally, contributing to the token's rapid growth.

Currently, RLUSD boasts a circulating supply of 312.94 million and has seen a trading volume of $94.42 million, marking an increase of over 86% in the past 24 hours, according to CoinMarketCap. Ripple Labs has maintained a strategy of targeted minting and burning to regulate supply, while also forging new partnerships to drive utility and demand among both retail and institutional users. CEO Brad Garlinghouse has advocated for proactive stablecoin regulation in the U.S., which could further support Ripple's ambitions in the stablecoin sector.

Token	Circulating Supply	24h Trading Volume	Volume Change (24h)
RLUSD	312.94 million	$94.42 million	+86%

BitMEX listing expected to boost RLUSD demand and supply.
Ripple continues to focus on utility and regulatory advocacy.

Ripple’s CEO Brad Garlinghouse has called for proactive stablecoin regulation in the United States.

Infobox: RLUSD is experiencing exponential growth, with major exchange listings and a significant increase in trading volume. (Source: U.Today)

Justice Department Investigates Coinbase Customer Data Theft

The U.S. Justice Department has launched an investigation into a recent breach at Coinbase Global Inc., one of the leading cryptocurrency exchanges. According to a person familiar with the matter, the department’s criminal division in Washington is examining the circumstances of the breach. Coinbase has reported that the hack involved criminals bribing employees and contractors in India to obtain client data.

This incident highlights the ongoing risks faced by major crypto exchanges and the increasing sophistication of attacks targeting sensitive customer information. The investigation underscores the seriousness with which U.S. authorities are treating security breaches in the crypto sector.

Justice Department’s criminal division is leading the probe.
Attackers allegedly bribed employees and contractors in India for access.

Infobox: The Justice Department is investigating a significant data breach at Coinbase involving insider bribery. (Source: Bloomberg.com)

Bybit Launches USDT Stock Trading on MT5 Platform

Bybit has become the first major cryptocurrency exchange to offer USDT stock trading via the MT5 platform using a contract for difference (CFD) model. This new feature allows users to trade 78 major global stocks, including Apple, Tesla, Amazon, Coinbase, and the 'Magnificent 7,' directly with USDT. The service is part of Bybit’s Gold & FX (MT5) expansion and includes equities from technology, automotive, energy, and e-commerce sectors.

Stock trading on Bybit is conducted through CFDs, meaning users speculate on price movements without owning the underlying shares. The fee structure is set at 0.04 USDT per share, with a minimum order value of 5 USDT. Bybit users now have access to a broader range of assets, including stocks, gold, oil, and indices, alongside cryptocurrencies.

Feature	Details
Number of Stocks	78
Fee per Share	0.04 USDT
Minimum Order	5 USDT

First major crypto exchange to offer USDT stock trading on MT5.
Expands asset offerings to include traditional financial instruments.

Infobox: Bybit’s new service enables direct USDT trading of 78 global stocks via CFDs, with competitive fees and minimums. (Source: The Defiant)

Crypto Firms Face Bank-Like Risks Without Equivalent Regulation

Crypto exchanges are increasingly functioning as central financial hubs, similar to banks, but often lack the mature security and regulatory frameworks of traditional finance. This centralization makes them attractive targets for attacks, particularly through social engineering. Recent incidents include a breach at Coinbase, where attackers bribed employees for access to customer data, potentially costing the company up to $400 million. Coinbase has pledged to reimburse affected customers.

Rival exchanges Binance and Kraken faced similar attacks but were able to repel them due to robust internal policies. Experts emphasize that the core issue is architectural, with the concentration of customer data, identity, and assets in one place creating systemic vulnerabilities. The Bybit exchange also suffered a $1.5 billion cyberattack earlier this year. According to PYMNTS Intelligence, social engineering fraud has increased by 56% in the past year.

Exchange	Incident	Estimated Cost
Coinbase	Data breach via social engineering	Up to $400 million
Bybit	Cyberattack	$1.5 billion

Centralization of data increases risk of large-scale breaches.
Social engineering fraud up 56% year-over-year.
Experts call for architectural changes and stronger regulation.

“The real lesson is architectural: custody concentrates risk. Traditional financial institutions partnering with crypto firms need to evaluate how data is managed at the core, not just whether a company is licensed or regulated.” – Mazyar Torkpour, CEO at Paymento

Infobox: Crypto exchanges face rising risks akin to banks, with recent breaches costing up to $1.5 billion and social engineering fraud up 56%. (Source: PYMNTS.com)

Coinbase Collaborates with DOJ After $20 Million Data Hack

Coinbase has confirmed its cooperation with the U.S. Department of Justice following a recent hack that resulted in the theft of customer data. Hackers demanded $20 million in Bitcoin as ransom for the stolen data. Coinbase CEO Brian Armstrong responded by offering a $20 million bounty for information leading to the arrest and conviction of the attackers.

According to Chief Legal Officer Paul Grewal, Coinbase is working with U.S. and international law enforcement agencies to pursue criminal charges against those responsible. The company stated that no funds, passwords, or private keys were compromised in the breach. Following the incident, Coinbase’s stock (COIN) was trading at $264 per share after a nearly 1% drop, but the company saw a 14% surge over the last five trading days after being added to the S&P 500.

Hackers demanded $20 million in Bitcoin ransom.
Coinbase offers $20 million bounty for information on attackers.
No customer funds or private keys were compromised.
COIN stock added to S&P 500, up 14% over five days.

“We have notified and are working with the DOJ and other U.S. and international law enforcement agencies, and welcome law enforcement's pursuit of criminal charges against these bad actors.” – Paul Grewal, Chief Legal Officer, Coinbase

Infobox: Coinbase is actively working with law enforcement after a $20 million ransom demand, with no customer funds lost and a recent S&P 500 inclusion boosting its stock. (Source: Decrypt)

Gate Unveils New Domain and Brand Logo, Aiming for “Next-Generation Crypto Exchange”

Gate, a leading global cryptocurrency trading platform, has officially adopted the new domain Gate.com and introduced a redesigned brand logo. This move is part of a broader strategy to unify its brand identity, strengthen its global presence, and enhance user trust. The rebranding follows Gate’s 12th anniversary and aligns with its vision to become the “next-generation crypto exchange.”

Gate serves over 23 million users worldwide and supports trading in more than 3,800 cryptocurrencies. The platform ranks among the top three globally by comprehensive strength and was one of the first to implement zero-knowledge proof (ZKP) technology for reserve transparency. Its latest proof-of-reserves report shows total reserves exceeding $10.865 billion, with a reserve ratio of 128.57%.

The new brand strategy focuses on three pillars: technology-driven innovation, global compliance, and ecosystem integration. Gate has expanded its compliance footprint with regulatory approvals in jurisdictions such as Lithuania, Argentina, Malta, Italy, Bahamas, Gibraltar, and Hong Kong. In 2024, Gate completed the acquisition of Japan-licensed exchange Coin Master and received a full operational license from Dubai’s Virtual Asset Regulatory Authority (VARA).

Users	Cryptocurrencies Supported	Total Reserves	Reserve Ratio
23 million+	3,800+	$10.865 billion	128.57%

New domain: Gate.com and unified global brand identity.
Focus on technology, compliance, and ecosystem integration.
Recent regulatory milestones in Japan and Dubai.

Infobox: Gate’s rebranding and compliance expansion mark a strategic leap toward becoming a foundational global digital finance ecosystem. (Source: Crypto Briefing)

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