The Bybit's $1.5bn hacking is now considered the biggest crypto breach ever. According to reports, hackers belonging to the Lazarus Group stole the funds from the exchange's cold wallet. Bybit's hack is bigger than that of Poly-Network, BSC Token Hub, and Ronin Network hacking.
Binance
The Know your Customer (KYC) process integrates a set of steps and standards which aims to protect financial institutions against potential fraud. Today, cryptocurrency exchanges implement the KYC to promote a safe and secure platform for crypto transactions.
Philippines' SEC moves to ban the official Binance website and associated pages for failing to secure a license from the regulator.