Metro Singapore Becomes First Department Store to Accept Stablecoin Payments
Metro Departmental Store has announced that it will accept payments in stablecoins, making it the first department store in Singapore to offer this digital payment method. The move, which applies to both physical and online purchases, reflects a growing trend toward digital currency adoption in retail. The decision marks a significant step in Metro’s digital transformation strategy, aligning with an increasing demand for stable and predictable digital payment methods. Customers will be able to make purchases using Tether (USDT), USDC, and WUSD, with plans to accept FDUSD in the near future. Partnership with dtcpay to Drive Digital Innovation Metro Singapore’s foray into stablecoin payments is facilitated through a partnership with cryptocurrency payment firm dtcpay. The collaboration aims to enhance the shopping experience for tech-savvy customers while keeping pace with industry trends. In a statement, Metro’s Chief Operating Officer, Erwin Wuysang-Oei, emphasized the company’s commitment to staying ahead of the retail landscape’s rapid changes. “By integrating stablecoin payments, we are not only embracing the future but also shaping it. This is a transformative moment for Metro, and we are excited to lead the industry in making digital assets a tangible, everyday reality for our customers.” Wuysang-Oei said. Overall, the partnership with dtcpay positions Metro at the forefront of digital payment solutions, providing a seamless and secure transaction process for customers accustomed to using digital assets. Rising Demand for Digital Payment Solutions Metro’s move comes amid growing adoption of stablecoins in Singapore. According to a report by blockchain analytics platform Chainalysis, stablecoin payments in Singapore reached nearly $1 billion in the second quarter of 2024. This trend underscores a shift towards digital currencies as consumers seek more stable and efficient payment options. By accepting stablecoins, Metro is responding to changing consumer preferences while positioning itself as a leader in digital innovation within the retail industry. As the demand for digital payment methods continues to rise, Metro’s strategic adoption of cryptocurrency payments is likely to influence other retailers in Singapore and beyond. Metro’s acceptance of stablecoin payments is effective immediately, allowing shoppers to use digital currencies for a seamless purchasing experience both in-store and online.
Bybit Hack 2025: Before & After — A Data-Driven Analysis On February 23, 2025, Bybit, one of the world’s largest cryptocurrency exchanges, suffered a catastrophic security breach that saw hackers drain 401,346 ETH (worth about $1.068 billion) and some other ETH-variants (worth about $279 million) from its cold wallet. This wasn’t just another cyberattack; it was a masterclass in deception. The hacker didn’t brute-force their way in. Instead, they manipulated Bybit’s multi-signature security process, tricking key signers into unknowingly approving a backdoor that let them take full control of the exchange’s Ethereum reserves. Within hours, billions vanished into an unknown wallet, leaving Bybit scrambling to process an unprecedented wave of withdrawal requests. How did this happen? Who is behind the attack? And what does this mean for the future of crypto security? This data-driven breakdown reveals every key detail, including hidden vulnerabilities that made it all possible. Key Statistics Impact of the Bybit Hack on BTC and Other Altcoins Big exchange hacks always shake up the market. Mt. Gox in 2014 led to a major crash, WazirX caused short-term dips, and now Bybit’s $1.4 billion hack has investors questioning just how secure even the biggest platforms are. BTC As of this writing, Bitcoin (BTC) has dropped 5.40% from its high on February 21, which coincides with the $1.347 billion Bybit hack—one of the largest security breaches in crypto history. Altcoins The cryptocurrency market is known to be highly volatile and reacts to the news with many altcoins reacting just as bad, or even worse, as Bitcoin has reacted even if Ethereum tried recovering but was smashed back down -6.74% on the hourly chart with others pulling back as hard as -15.11% (Solana). With billions in stolen ETH on the move, the ripple effects are clear: traders rushing to offload assets, exchanges tightening security, and an overall atmosphere of uncertainty gripping the market. The question remains—how deep will this correction go, and how long before confidence is restored? The Timeline of the Hack The attack on Bybit’s multi-signature wallet unfolded in a carefully calculated sequence, exposing vulnerabilities even in seemingly secure cold wallet transfers. It all began with what seemed like a routine operation. The CEO, the final signer, carefully reviewed the transaction within Safe Global’s UI, verifying the destination address and ensuring everything was checked out before signing off. However, within 30 minutes, an emergency alert confirmed something had gone catastrophically wrong. Before the hack Before the hack, the attacker carefully laid the groundwork by deploying a malicious contract designed to exploit Bybit’s multi-signature system. Three days before the breach, they created a contract that mimicked a legitimate one, disguising its true purpose. This contract contained a delegate-call function, allowing it to hijack the execution of Bybit’s multi-signature wallet without directly modifying its code, i.e., the hacker posed as legitimate. The hacker ensured that when Bybit’s authorized signers approved the transfer, they unknowingly granted control over the wallet by disguising the malicious contract’s interaction as a routine transaction. Once executed, the contract redirected Bybit’s cold wallet authorization to the hacker, enabling them to drain the funds in a series of massive transactions. During the hack Digging into the transaction logs revealed the extent of the exploit. The hacker orchestrated a sweeping series of transactions that methodically drained assets from Bybit’s cold wallet. It started small with an initial test transaction that had just $90 stolen, likely to verify the vulnerability. What followed was staggering: Asset Stolen Transaction Hash Address Amount Stolen (During Hack) 401,346.77 ETH etherscan.io/tx/0xb61413c495fdad6114a7aa863a00b2e3c28945979a10885b12b30316ea9f072c $1,068,224,563.03 8,000 mETH etherscan.io/tx/0xbcf316f5835362b7f1586215173cc8b294f5499c60c029a3de6318bf25ca7b20 $20,611,440.00 90,375.55 stETH etherscan.io/tx/0xa284a1bc4c7e0379c924c73fcea1067068635507254b03ebbbd3f4e222c1fae0 $219,337,839.75 15,000 cmETH etherscan.io/tx/0x847b8403e8a4816a4de1e63db321705cdb6f998fb01ab58f653b863fda988647 $38,630,100.00 In total, the exploit amounted to an estimated $1.347 billion, making it one of the most significant crypto heists in history. Blockchain sleuths traced the exploit to North Korean state-sponsored actors, the Lazarus Group, marking yet another instance of their shift from smart contract exploits to social engineering attacks. Bybit wasn’t the first victim, a similar method had previously been used in the WazirX exchange hack, the Radiant Capital breach, and now, Bybit. Industry Reactions & Impact What stood out during the crisis was the overwhelming support Bybit received from across the crypto ecosystem. Ben Zhou took to X to express his gratitude, stating: “Bybit is overwhelmed by all the support that we got from partners and industry friends during last night’s critical time. Here I want to say thanks to all the friends and partners who offered or helped us in any way or form. I am truly grateful. We will need a lot more help down the road as well. Thank you!” Zhou acknowledged that while the hack was a tragic event, it also highlighted the resilience of the crypto industry. “Although it’s a tragic event for Bybit, however, through this hard time, our industry showed strength as we unite together. We can only grow bigger from now on. As a team, we are ready to protect our industry together.” The collaborative response was evident, with major industry players such as Antalpha Global, Bitget, Pionex, MEXC, Solana, Ton Blockchain, Blockchain UAE, Ghaf Capital, Bitvavo, Tether, and Galaxy Digital stepping in to assist Bybit in freezing stolen funds and reinforcing security measures. Several exchanges, including Bitget and Crypto.com, provided ETH liquidity to support Bybit during the crisis. Additionally, Tether’s CTO Paolo Ardoino confirmed that the company had frozen 181,000 USDT linked to the hack, preventing further laundering of stolen assets. In a tweet to the Tether team and Paolo Ardoino, Zhou expressed his gratitude for their support. “Thanks, @Tether_to and @paoloardoino for the support,” he tweeted on Feb. 22, shortly after the breach. Paolo Ardoino, the CTO of Tether, had tweeted earlier about freezing 181k USDT linked to the Bybit hack. Despite the amount being relatively small, Ardoino highlighted that it was “honest work” and emphasized their ongoing monitoring of the situation. The Infini Earn Hack & DeFi Trends The Bybit breach was not an isolated event. Just days after the incident, Infini Earn, a decentralized finance (DeFi) platform,
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