Top News Highlights from February 23, 2025: Major Hack in Crypto, Sustainable Finance Achievement, and New Immigration Policy in South Korea
Jakarta, Indonesia – February 23, 2025
As the clock struck 11:03 PM on Sunday, February 23, 2025, Tempo English has compiled three significant news stories that are making headlines today. The features include an unprecedented cryptocurrency hack affecting major exchange Bybit, accolades for PT Bank Tabungan Negara’s sustainable finance initiatives, and the launch of a new electronic arrival card system in South Korea aimed at improving immigration efficiency.
1. Biggest Hack in Crypto History: Bybit Loses Nearly $1.4 Billion
In what is being termed the largest hack in cryptocurrency history, Bybit, a prominent cryptocurrency exchange, has disclosed a theft resulting in the loss of approximately $1.4 billion (roughly Rp 22.79 trillion). A report by Tech Crunch reveals that a hacker managed to gain access to Bybit’s Ethereum wallet, leading to the transfer of about 401,000 ETH to an untraceable address.
Bybit’s CEO, Ben Zhou, addressed the situation via a post on social media platform X, assuring users that the Ethereum wallet was the only asset compromised and that all other wallets within the exchange remain secure. Users can continue conducting withdrawals as normal amidst these troubling developments. This incident has raised concerns over the security of digital assets, with many wondering about the implications for cryptocurrency regulations and investor confidence moving forward.
2. BTN’s Sustainable Finance Framework Receives Excellent Rating from Sustainable Fitch
PT Bank Tabungan Negara (Persero) Tbk, commonly known as BTN, has achieved an “Excellent” rating for its Sustainable Finance Framework (SFF), as evaluated by Sustainable Fitch through a Second Party Opinion. This recognition was issued following a comprehensive review conducted on February 21, 2025. The SFF serves as a critical guideline for BTN in channeling investments towards projects that yield positive societal and environmental impacts. According to Sustainable Fitch, the framework possesses the potential to greatly enhance societal welfare while also promoting environmental sustainability, affirming BTN’s commitment to socially responsible banking practices.
3. South Korea Implements Electronic Arrival Card for Immigration Efficiency
South Korea is set to implement an electronic arrival card system beginning February 24, 2025, aiming to streamline the immigration process for international travelers. The new system will replace traditional paper forms for visa arrivals, marking a significant shift towards digitization in administrative processes.
Under the new policy, all foreign nationals (barring registered residents and individuals with valid Korea Electronic Travel Authorization) will be required to submit an electronic arrival card prior to arrival. Travelers are encouraged to complete this form online in advance, thus expediting their entry into the country. To facilitate a smooth transition for all travelers, paper formats will still be available until the end of 2025, allowing visitors to choose their preferred method of submission during the introductory period.
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