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VVDN and Red Hat Collaborate to Deliver Cutting-Edge RAN Intelligent Controller (RIC) Solution on Red Hat OpenShift

GURUGRAM, India, Feb. 24, 2025 /PRNewswire/ — VVDN Technologies, a global provider of software, product engineering, and electronics manufacturing services and solutions, collaborates with Red Hat Inc., the world’s leading provider of open source solutions, to deploy its RAN Intelligent Controller (RIC) on Red Hat OpenShift. VVDN’s RIC is certified on Red Hat OpenShift and is set to revolutionize the performance, scalability, and security of Radio Access Networks (RAN) for global enterprises and telcos.

VVDN’s deep expertise in RIC with Red Hat OpenShift, the industry’s leading hybrid cloud application platform powered by Kubernetes, delivers unparalleled scalability, security, and real-time optimization. With the rapid adoption of 5G technologies and the growing demand for high-performance network solutions, this collaboration helps address the industry’s need for enhanced RAN management and automation.

As a certified solution on Red Hat OpenShift, VVDN’s RIC solution is designed to enhance the performance and efficiency of RAN by optimizing and automating network resources in real time. Key benefits of VVDN’s RIC solution include real-time optimization, which continuously adjusts network parameters for optimal performance and user experience, AI-driven insights that use machine learning algorithms to predict and resolve network issues before they impact users, enhanced flexibility that supports various RAN architectures and multi-vendor environments, and improved resource utilization, which maximizes efficiency and reduces operational costs.

By deploying VVDN’s RIC solution on Red Hat OpenShift, enterprises can leverage the power of Red Hat’s cloud-native capabilities containerization to deploy and manage RIC services more seamlessly. The deployment of RIC on Red Hat OpenShift offers streamlined scalability by enabling automatic scaling of RIC components to help meet demand and support high availability. It also provides enhanced flexibility with a cloud-native environment, supports integrated development using DevSecOps practices through CI/CD pipelines, and offers robust security features to protect RIC applications and data.

Puneet Agarwal, CEO, VVDN Technologies said: 

“Collaborating with Red Hat is a pivotal step for VVDN as we continue to push the boundaries of telecom innovation. This collaboration allows us to combine our RIC expertise with Red Hat’s renowned hybrid cloud application platform, Red Hat OpenShift, providing telecom operators and enterprises with a solution that meets current demands and is future-proofed for the growing complexities of 5G and beyond.”

Marshal Correia, Vice President and General Manager, Red Hat India said: 

“Red Hat is excited to collaborate with VVDN Technologies to certify their RAN Intelligent Controller on Red Hat OpenShift. Together, we aim to deliver more scalable, secure, and cloud-native solutions for modern networks. By combining RAN optimization with the capabilities of Red Hat OpenShift, this collaboration can help empower real-time optimization, AI-driven insights, and enhanced efficiency, addressing the evolving demands of enterprises and telcos in the 5G era.”

 About VVDN:

Founded in 2007, VVDN is a technology innovation company focusing primarily on Software Services, Product Engineering and Manufacturing Services.  VVDN’s India HQ is located at Gurgaon, India, and its North America HQ is located in Fremont, CA, USA. VVDN has a presence across the world with offices in US, Canada, Europe, Vietnam, South Korea, and Japan. With 11 advanced R&D Centres, VVDN is fully equipped to design, develop & test the complete hardware, mechanical & software required for a complete product or solution. VVDN’s 7 Manufacturing facilities are located at Manesar, Gurgaon, and Pollachi, Tamil Nadu, India, which includes in-house best-in-class SMT Factory, Mold & Tooling Factory, Injection Molding, Die Casting, Powder Coating, Sheet Metal, Product Assembly Factory, and Product Certifications labs. Company offers a comprehensive suite of services from Hardware to Mechanical, Embedded Software to Cloud & Apps, Testing & Validation to Automation as well as Mass Manufacturing to its global customers.

Red Hat and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.

 

Logo: https://laotiantimes.com/wp-content/uploads/2025/02/vvdn_technologies_logo-1.jpg 

 

LG Display Begins Mass Production of Ultra-large Automotive Display Solutions to Revolutionize Driving Experience

SEOUL, South Korea, Feb. 24, 2025 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, announced today that it has officially begun mass production of the industry’s first 40-inch Pillar to Pillar (P2P) automotive display. The company is accelerating its push into the Software-Defined Vehicle (SDV) era by scaling up the production of premium automotive display solutions with the goal of revolutionizing the driving experience.

LG Display Begins Mass Production of Ultra-large Automotive Display Solutions
LG Display Begins Mass Production of Ultra-large Automotive Display Solutions

A P2P display is an ultra-large automotive panel that fully covers the area in front of the driver’s and front passenger’s seats.

The performance of an SDV, which is controlled by software to enhance driving convenience, requires the installation of large displays that make it easy to see a variety of information and control vehicle functions. As a result, the ultra-large P2P solution is gaining attention as a next-generation mobility display.

LG Display is ramping up its SDV strategy through the mass production of its 40-inch P2P, which offers a personalized infotainment experience for both the driver and passengers. It raises user convenience by allowing the simultaneous display of advanced infotainment functions, from a digital dashboard and navigation to climate control, movies, music, and even games – all without screen transitions.

As a result, this ultra-large display enables immediate access to varied information and easy control of vehicle functions without limitations, as opposed to previous automotive displays where navigation instructions might disappear or shrink when accessing other functions like climate control or music.

Switchable Privacy Mode (SPM) viewing angle control technology has also been applied to help the driver stay focused on the road. SPM, which LG Display was the first in the industry to commercialize, allows the front passenger to watch movies or play games on the display in front of them even as it remains invisible from the driver’s seat.

As viewing angle control technology has emerged as a key safety feature amid the trend toward larger automotive displays, LG Display’s SPM is distinguished by achieving ultra-high-definition resolution while still controlling the viewing angle.

In addition, local dimming technology has been applied for the first time, reducing heat generation and power consumption. This further increases the driving efficiency of next-generation mobility options such as electric vehicles.

The innovative design potential of future mobility is also maximized as physical buttons are minimized and various functions can be controlled via the ultra-large display.

The company’s 40-inch P2P will be installed in the Afeela, the first sedan from Japanese joint venture Sony Honda Mobility. The Afeela is a next-generation electric vehicle that combines Sony’s advanced IT and entertainment technologies with Honda’s expertise in vehicle manufacturing. The ultra-large display is expected to maximize AI-based driver assistance systems and various entertainment functions.

“Based on our industry-leading proprietary technology, outstanding product competitiveness, and stable supply capabilities, we will continue to present innovative solutions that provide differentiated customer value in the SDV era.” said Keuk-sang Kwon, Head of Auto Business Group at LG Display.

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:
Joo Yeon Jennifer Ha, Manager, Communication Team
Email: hjy05@lgdisplay.com

HEYTEA Partners with Adyen to Brew Global Expansion

HEYTEA taps Adyen for its unified commerce technology and global acquiring capabilities to process payments in store and online

SHENZHEN, China, Feb. 24, 2025 /PRNewswire/ — Adyen, the global payments platform of choice for many of the world’s leading companies, today announced its partnership with HEYTEA, the originator of China’s “new-style tea” and creator of the iconic cheese tea (cheese cloud foam).

With a footprint of over 4,300 outlets in 300 cities worldwide, the partnership is set to be a recipe for success with HEYTEA’s ambitious global expansion, bringing its creative brews to customers across the United States, United Kingdom, Singapore, and Australia.

With its sights set on expanding into new markets, HEYTEA has chosen Adyen as its payment technology provider, utilizing Adyen’s unified commerce platform to enable the global tea chain to launch seamlessly into new overseas markets.

The integration with Adyen will also see HEYTEA unlock the benefit of its extensive global acquiring network, allowing faster, more reliable transactions in the preferred local payment methods — including powering WeChat Pay directly via HEYTEA’s app, promising a localized and more customer-friendly experience.

“Adyen’s technology allows us to seamlessly deliver on our mission to deliver a modern tea experience to customers globally,” says HEYTEA official spokesperson. “Adyen’s fast processing and support of a wide range of local payment methods, allow us to focus on delighting customers without worrying about payment complexities.”

“Adyen is proud to partner with HEYTEA as it brings its iconic ‘new-style tea’ to customers around the globe. Expanding into new markets presents both opportunities and challenges, and we’re proud that HEYTEA has trusted Adyen to power its global growth.” says Warren Hayashi, President of Asia-Pacific, Adyen.

About Adyen

Adyen (AMS: ADYEN) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft. The cooperation with HEYTEA as described in this merchant update underlines Adyen’s continuous growth with current and new merchants over the years. For more information, visit adyen.com.

About HEYTEA

HEYTEA is the originator of new-style tea. Founded in 2012 in Jiangbianli, Guangdong, China, HEYTEA began with humble beginnings, blending tradition with eccentric inspiration to breathe new life into tea. Committed to using only REAL ingredients with NO colorants, HEYTEA revolutionized the tea industry by introducing the world’s first-ever Cheese Tea—a unique blend of fresh tea topped with a rich, velvety cheese cloud foam.

In 2018, HEYTEA opened its first international store in Singapore, bringing new-style tea to a larger global audience. Today, with more than 4,300 stores worldwide, HEYTEA continues to bring simple joy and a touch of Zen to more people through a good cup of tea.

NMPA Accepts NDA and Grants Priority Review Designation to Innovent’s Ipilimumab Injection, China’s First Domestic CTLA-4 Inhibitor, in Combination with Sintilimab as Neoadjuvant Treatment for Colon Cancer

SAN FRANCISCO and SUZHOU, China, Feb. 24, 2025 /PRNewswire/ — Innovent Biologics, Inc. (“Innovent”) (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of oncology, cardiovascular and metabolic, autoimmune, ophthalmology and other major diseases, announces that the New Drug Application (NDA) for ipilimumab injection (anti-CTLA-4 monoclonal antibody; R&D Code: IBI310) has been accepted by the Center for Drug Evaluation (CDE) of China’s National Medical Products Administration (NMPA) and granted Priority Review designation[1] in combination with sintilimab as neoadjuvant treatment for resectable microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) colon cancer.

This is China’s first NDA for a domestic CTLA-4 inhibitor and another milestone strengthening sintilimab’s leadership position in cancer immunotherapy. Immune checkpoint blockade (ICB) therapy targeting PD-1 and CTLA-4 has transformed oncology treatment, ipilimumab with sintilimab as a neoadjuvant treatment could increase R0 resection rate, achieve pathological complete response, and relieve the majority of patients from adjuvant chemotherapy burdens. This novel treatment is also expected to reduce recurrence rate and improve long-term prognosis, anticipated to benefit MSI-H/dMMR colon cancer patients upon NDA approval.

The NDA acceptance and Priority Review designation are based on results from a randomized, controlled, multicenter, pivotal Phase 3 clinical trial (NeoShot, NCT05890742) which evaluated the safety and efficacy of ipilimumab  combined with sintilimab as neoadjuvant therapy and as compared with direct radical surgery for MSI-H/dMMR colon cancer. The primary endpoints are pathologic complete response (pCR) rate and event-free survival (EFS). Interim analysis by the Independent Data Monitoring Committee (IDMC) showed that the NeoShot trial has met its primary endpoint. Detailed results will be presented at future academic conferences or published in academic journals.

Previously, the results of a randomized controlled Phase 1b trial evaluating ipilimumab in combination with sintilimab as neoadjuvant treatment for MSI-H/dMMR colon cancer were presented orally at the 2024 American Society of Clinical Oncology (ASCO) Annual Meetingi. Based on promising Phase 1b results, the CDE has granted Breakthrough Therapy Designation (BTD) for ipilimumab.

  • As of February 4, 2024, 101 patients were enrolled and randomized to receive ipilimumab plus sintilimab (n=52) or sintilimab alone (n=49).
  • In the per-protocol population, the pCR rate in the ipilimumab-plus-sintilimab arm was significantly higher than in the sintilimab-alone arm(80.0% vs 47.7%, p=0.0007).
  • All patients in both treatment arms had R0 resection. With median follow-up of 5.65 months, no patient had disease recurrence.
  • At postoperative pathological evaluation, 3.9% of patients with ipilimumab plus sintilimab and 15.9% of patients with sintilimab alone were stage N+. The majority of patients could be relieved from adjuvant treatment according to clinical guidelines.
  • Ipilimumab -plus-sintilimab increased neither safety risk compared to sintilimab alone nor risk for subsequent surgery delay or cancellation.

The Principal Investigator of the NeoShot study, Prof. Ruihua Xu from Sun Yat-sen University Cancer Center, stated: “At present, R0 resection for certain locally advanced colon cancer patients remains a significant challenge, along with risks of extensive trauma and poor prognosis. The results of the FOxTROT study suggested that neoadjuvant chemotherapy is not effective in MSI-H/dMMR colon cancer, and the pCR rate is only around 5%ii. The NeoShot trial is the first randomized, controlled, Phase 3 clinical trial to show promising efficacy of dual checkpoint inhibition as neoadjuvant therapy in MSI-H/dMMR colon cancer. Results from the phase 1b study suggest that ipilimumab with sintilimab as short-term neoadjuvant treatment could increase R0 resection rate, achieve pathological complete response, and relieve patients from adjuvant chemotherapy burdens. This novel treatment is also expected to lower recurrence rate and improve long-term prognosis i.As this dual immunotherapy regimen has the potential to change clinical practice, we look forward to the NDA approval of this novel drug to benefit more MSI-H/dMMR colon cancer patients soon. “

Dr. Hui Zhou, Senior Vice President of Innovent, stated: “There is a huge unmet clinical need for neoadjuvant therapy of resectable MSI-H/dMMR colon cancer in China. Interim analysis showed that the NeoShot trial has met its primary endpoint. With Innovent’s highly efficient and high-quality clinical development, ipilimumab has become China’s first domestic CTLA-4 inhibitor to submit an NDA. We will actively cooperate with regulatory authorities to accelerate approval, and provide a new treatment option for patients with resectable MSI-H/dMMR colon cancer in China.”

About Ipilimumab

Ipilimumab (R&D code: IBI310) is a fully human monoclonal antibody injection independently developed by Innovent. Ipilimumab can specifically bind cytotoxic T lymphocyte-associated antigen 4 (CTLA-4), thereby blocking CTLA-4 mediated T cell inhibition, promoting T cell activation and proliferation, improving tumor immune response, and achieving anti-tumor effects. iii

The NDA for ipilimumab in combination with sintilimab as neoadjuvant treatment for resectable microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) colon cancer is under the NMPA review and has been granted Priority Review designation.

About Sintilimab

Sintilimab, marketed as TYVYT® (sintilimab injection) in China, is a PD-1 immunoglobulin G4 monoclonal antibody co-developed by Innovent and Eli Lilly and Company. Sintilimab is a type of immunoglobulin G4 monoclonal antibody, which binds to PD-1 molecules on the surface of T-cells, blocks the PD-1 / PD-Ligand 1 (PD-L1) pathway, and reactivates T-cells to kill cancer cells.iv

In China, sintilimab has been approved and included in the updated NRDL for seven indications. The updated NRDL reimbursement scope for TYVYT® (sintilimab injection) includes:

  • For the treatment of relapsed or refractory classic Hodgkin’s lymphoma after two lines or later of systemic chemotherapy;
  • For the first-line treatment of unresectable locally advanced or metastatic non-squamous non-small cell lung cancer lacking EGFR or ALK driver gene mutations;
  • For the treatment of patients with EGFR-mutated locally advanced or metastatic non-squamous non-small cell lung cancer who progressed after EGFR-TKI therapy;
  • For the first-line treatment of unresectable locally advanced or metastatic squamous non-small cell lung cancer;
  • For the first-line treatment of unresectable or metastatic hepatocellular carcinoma with no prior systematic treatment;
  • For the first-line treatment of unresectable locally advanced, recurrent or metastatic esophageal squamous cell carcinoma;
  • For the first-line treatment of unresectable locally advanced, recurrent or metastatic gastric or gastroesophageal junction adenocarcinoma.

Furthermore, sintilimab’s eighth indication, in combination with fruquintinib for the treatment of patients with advanced endometrial cancer with pMMR tumors that have failed prior systemic therapy and are not candidates for curative surgery or radiation, was conditional approved by the NMPA in December 2024. And the NDA for sintilimab in combination with ipilimumab as neoadjuvant treatment for resectable MSI-H/dMMR colon cancer is under the NMPA review and has been granted Priority Review designation.

In addition, two clinical studies of sintilimab have met their primary endpoints:

  • Phase 2 study of sintilimab monotherapy as second-line treatment of esophageal squamous cell carcinoma;
  • Phase 3 study of sintilimab monotherapy as second-line treatment for squamous non-small cell lung cancer with disease progression following platinum-based chemotherapy.

About Innovent

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 14 products in the market. It has 4 new drug applications under regulatory review, 2 assets in Phase III or pivotal clinical trials and 17 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, Adimab, LG Chem and MD Anderson Cancer Center.

Guided by the motto, “Start with Integrity, Succeed through Action,” Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Statement:

1Innovent does not recommend the use of any unapproved drug (s)/indication (s).

2Ramucirumab (Cyramza) and Selpercatinib (Retsevmo) and Pirtobrutinib (Jaypirca) were developed by Eli Lilly and Company.

Disclaimer: Innovent does not recommend any off-label usage.

Forward-Looking Statements

This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Innovent, are intended to identify certain of such forward-looking statements. Innovent does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent’s competitive environment and political, economic, legal and social conditions.

Reference:

i.            http://abstracts.asco.org/239/AbstView_239_267235.html

ii.            Morton D, et al; FOxTROT Collaborative Group. Preoperative Chemotherapy for Operable Colon Cancer: Mature Results of an International Randomized Controlled Trial. J Clin Oncol. 2023 Mar 10;41(8):1541-1552. DOI: 10.1200/JCO.22.00046.

iii.            Wolchok JD, Saenger Y. The mechanism of anti-CTLA-4 activity and the negative regulation of T-cell activation. Oncologist. 2008;13 Suppl 4:2-9. DOI:10.1634/theoncologist.13-S4-2

iv.            Wang J, et al. Durable blockade of PD-1 signaling links preclinical efficacy of sintilimab to its clinical benefit. mAbs 2019;11(8): 1443-1451. DOI: 10.1080/19420862.2019.1654303.

 

[1] According to the Provisions for Drug Registration (SAMR Order No. 27) and Working Procedures for Priority Review and Approval of Drug Marketing Authorization (Interim) (No. 82 of 2020) implemented on July 1, and July 7, 2020, respectively, priority review and approval process is established to accelerate the development of new drugs with great clinical value and clinical urgent need. The regulatory authority will prioritize the review process and evaluation resources for NDA of the drugs that have obtained priority review qualifications, which helps accelerate the market access of these innovative drugs. Priority review designation is not an approval for marketing the drug.

 

RESPONSIBLE LEADERSHIP UNDER THE SPOTLIGHT WITH LAUNCH OF IMPACT INDEX TO HOLD BUSINESS ACCOUNTABLE

Bambuddha Group White Paper and Impact Index Insights Set the Agenda for ‘The Future of Work 2035 with Responsible Leadership’

SYDNEY, Feb. 24, 2025 /PRNewswire/ — ‘Responsible Leadership 2035’ is on the agenda at the Bambuddha Group’s Round Table with the launch of a White Paper that shines the spotlight on leadership responsibility to reimagine the future of work through flexibility, collaboration and ESG-driven leadership as calls for return to work face ongoing headwinds.

‘The Future of Work 2035 – Responsible Leadership Imperatives to Drive Growth’ White Paper sets a clear vision for workplace practice in 2035, leaving no doubt that a new era in corporate leadership is no longer a nice-to-have, but critical for the survival of business, no matter the size.

“As Australia grapples with complex challenges, the role of CEOs as responsible leaders has never been more crucial,” says Anna Sheppard, Founder and CEO of Bambuddha Group, the social enterprise that offers game-changing leadership coaching to achieve equality, fairness and kindness in workplaces across the globe. Sheppard is the author of the Responsible Leadership 2035 White Paper, published in December 2024.

Grounded by insights from the Impact Index, The Future of Work 2035 – Responsible Leadership Imperatives to Drive Growth’ roundtable explores the transformative power of leadership grounded in ESG principles. The event will see CEOs from three diverse industries across Diagnostics, Technology, and Entertainment to explore the future of Responsible Leadership and identify key focus areas for the next decade, with an emphasis on reimagining the future of work (WFH, flexibility, and collaboration), prioritising ESG and societal impact as core business strategies and understanding DEI in the now and how this becomes embedded into a long-term strategy.

ABOUT BAMBUDDHA GROUP

Bambuddha Group is an award-winning advisory and training firm, dedicated to catalysing a global shift towards responsible leadership and sustainable practices by fostering a culture of compassion, empowerment, and kindness within organisations worldwide.

By 2035, our vision is to see a world where every decision-maker leads for humanity, where organisations thrive sustainably, and where success is measured not only by financial gains but also by positive impacts on society and the environment.

Programs provide access to literacy training, industry-leading coaches, executive education, and many resources to embed sustainable change and inclusive practices for people, customers, the community, and the environment.

Bambuddha Group has won multiple awards for work in this space, including being recognised as one of the” Top 10 Leadership Development Training and Coaching Companies 2021 in APAC”, Top 50 leading light for APAC, Top 50 most impactful LinkedIn Influencers, Finalists for Telstra Best of Business Awards for Accelerating Women and now join the world stage as thought leader of the year at the Women who change the world awards in London in early April.

ABOUT BAMBUDDHA IMPACT INDEX

The Bambuddha Impact Index is grounded in transformational leadership theory, systems theory, positive psychology, corporate social responsibility (CSR), sustainable development, and social justice. It integrates inclusive leadership and community engagement models emphasising empowerment, accountability, and holistic, long-term strategies for social, environmental, and organisational change.

The framework elucidates the intricate relationship between ESG practices and profitability, fostering a deep understanding of how responsible actions drive financial outcomes. It ensures decision-makers understand the importance of sustainability initiatives by highlighting tangible outcomes, opportunities and their competitive advantage in order to guide leaders toward success.

ABOUT ANNA SHEPPARD

Anna Sheppard is a Stevie award-winning inspirational speaker and emcee and the founder and CEO of Bambuddha Group. Anna spends much of their time working as an inspirational speaker, producer, and consultant with organisations and leaders who want to understand the benefits of social responsibility through a world-leading Kindness methodology.

BAMBUDDHA ON SOCIAL

 

Bybit Defies Odds: How the Largest Crypto Hack in History Became a Test of Resilience and Transparency

DUBAI, UAE, Feb. 23, 2025 /PRNewswire/ — In a remarkable display of resilience and professionalism, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has successfully navigated the largest hack in crypto history. On February 21, 2025, hackers stole approximately $1.5 billion in digital assets from Bybit’s Ethereum wallet, marking the biggest cryptocurrency heist ever recorded. Despite this unprecedented breach, Bybit’s swift and transparent crisis management ensured that the crypto market remained stable, with no significant price volatility.

Swift Crisis Management

Bybit’s response to the hack was marked by swift action, transparency, and professionalism.  Ben took immediate ownership of the situation, addressing the community within 30 minutes via X and conducting a livestream session just one hour after the incident. This live session, which lasted over two hours, provided real-time updates and detailed explanations, ensuring that all stakeholders were informed and reassured. Bybit’s prompt and open communication effectively prevented panic and maintained trust in the exchange, setting a high standard for crisis management in the crypto industry

Throughout the crisis, Bybit’s withdrawal and product services remained uninterrupted, with clients able to access support and their respective relationship managers at all times. This seamless continuity was a testament to the team’s preparedness and efficiency, even under extreme pressure.

Industry Unity in Support of Bybit

The crypto industry rallied around Bybit, demonstrating a united front against security threats. Major exchanges blacklisted the hacker’s wallets, preventing further movement of stolen funds. This unprecedented show of unity underscores the growing maturity of the crypto sector, where competitors become allies in times of need.

Client Fund Protection

Despite the significant scale of the hack, Bybit’s 1:1 reserve guarantee ensured that client assets remained fully intact. Bybit CEO Ben Zhou reassured users that Bybit is solvent and can cover the loss, emphasizing that all client assets are backed on a one-to-one basis. This guarantee demonstrates Bybit’s financial stability and commitment to user security.

Regulatory and Law Enforcement Collaboration

Bybit worked closely with regulators and law enforcement agencies to address the hack. This collaboration not only facilitated a swift response but also set a precedent for future cooperation between the crypto industry and regulatory bodies. As the incident unfolds, further developments are expected from this front, potentially leading to enhanced security measures and regulatory frameworks.

Rapid Recovery

Bybit demonstrated remarkable resilience in the face of the crisis, processing over 350,000 withdrawal requests efficiently within 12 hours of the hack. Despite the surge in withdrawal requests, the exchange ensured that all transactions were completed without significant delays, showcasing the team’s professionalism and experience in managing critical incidents. Bybit’s operations quickly returned to normal, with client activity rebounding to pre-hack levels within 24 hours. This swift recovery underscores the trust that clients and investors have in Bybit’s crisis management capabilities, highlighting the exchange’s ability to maintain stability even in the most challenging circumstances

Bybit’s handling of the recent hack sets a new industry standard for crisis management. The exchange’s ability to turn a potentially disastrous event into a demonstration of resilience and transparency is a testament to its long-standing culture of responsibility and openness. This incident highlights not just Bybit’s operational excellence but also the growing maturity and unity of the crypto industry as a whole.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press 

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media

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HTX Global Advisor Justin Sun Advocates Crypto Security Collaboration

SINGAPORE, Feb. 23, 2025 /PRNewswire/ — In the wake of the recent $1.5 billion hack affecting a major cryptocurrency exchange, HTX hosted a live discussion on X and its Global Advisor Justin Sun addressed the growing security concerns in the cryptocurrency industry. The discussion, titled “Together Against Industry Crisis, Is There a Best Solution for the Security of the Crypto Industry?” featured insights from leading security firms SlowMist and GoPlus Security, as well as prominent KOLs.

Security: A Top Priority for HTX

Sun stressed that security is a “top priority”, demanding constant vigilance and learning. He illustrated how hacker tactics have evolved, from early hot wallet attacks to more sophisticated multi-signature wallet breaches, and declared that exchanges must continuously enhance their security protocol.

Sun emphasized that security is like personal health management, requiring internal efforts and a proactive approach. HTX has implemented multi-device login, remote login alerts, abnormal transfer alerts, and other security features, and has publicly disclosed Merkle Tree Proof of Reserve (PoR) for 28 consecutive months, maintaining reserve ratios exceeding 100%.

Sun’s Influence on Security Practices Across the Crypto Landscape

Sun’s commitment to security extends to his vision for HTX and his influential role in shaping security practices across the broader crypto landscape. He believes that the principle of security is considered fundamental to every business and product. He cited the early implementation of native multi-signature functionality in TRON as a successful example of proactive security design, demonstrating his commitment to building security into the foundation of his projects. He also highlighted the recent launch of USDD 2.0, emphasizing the deep understanding of stablecoin security risks that informed its development. “Just as exchanges should strengthen security mechanisms from the source in system design and operation, to maximize the prevention of security incidents,” Sun stated.

Sun also revealed that HTX collaborates with numerous white hat teams to conduct continuous penetration testing, security drills, and vulnerability mining. The platform actively monitors global cryptocurrency security incidents and studies hacker attack principles and methods for effective prevention.

Addressing the Situation and Industry Cooperation

Regarding the controversy surrounding CZ’s suggestion for the affected exchange to suspend withdrawals, Sun acknowledged the validity of the advice from an exchange perspective. He explained that the initial hours after a security breach are crucial for investigating the issue and ensuring safety. While suspending withdrawals is necessary to eliminate risks, the suspension period should be minimized to reduce user impact.

Sun called for closer cooperation between exchanges, security agencies, and the community to jointly address hacker threats, promote technological sharing, security innovation, and information exchange, and promote the healthy and sustainable development of the industry.

HTX’s Commitment to User Safety

HTX demonstrates its commitment to security through a proactive and continuously improving approach. The platform’s multi-faceted security strategy encompasses collaboration with leading security experts, rigorous ongoing monitoring, robust internal protocols, and a focus on enhancing multi-signature support, security alerts, and mitigating emerging threats such as hashtag scams. This comprehensive strategy reflects HTX’s dedication to safeguarding user assets and fostering a secure and reliable trading environment. This commitment was further emphasized by the specific security protocol requirements shared by Justin Sun at the February 21st Meetup in Hong Kong.

About HTX

Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services. Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.

For more information on HTX, please visit the HTX Square, or https://www.htx.com/, and follow X, Telegram, Discord. For further press enquiries, please contact glo-media@htx-inc.com

Contact Details
Ruder Finn Asia  
htx@ruderfinn.com 

Be My Guest: The Bridge Episode

GUIYANG, China, Feb. 23, 2025 /PRNewswire/ — Guizhou, the only province in China without plains, is home to over 30,000 completed and under-construction bridges. Nearly half of the world’s top 100 high bridges are located here. The people of Guizhou have carved roads through mountains and built bridges over rivers, creating a vast high-speed transportation network. Tens of thousands of bridges connect Guizhou to the rest of the country and the world, allowing local products to reach markets far and wide.


Be My Guest: The Bridge Episode

The short video series “Be My Guest• Focus Guizhou“, produced by Guizhou Satellite TV and the International Communication Center of Guizhou Radio and Television Station, adopts a reality show format with international photographers invited to explore Guizhou. Through their lenses, the series captures their authentic experiences and the richness of Guizhou’s culture.

In this episode, Norwegian travel photographer Ole Eidskrem, who dreams of being a bridge between China and Western countries, accepts an invitation from travel vlogger Fang Jiayu from Hong Kong to explore Guizhou known as the world’s canyon and bridge museum. 

Their journey begins at the Longli River Bridge, where local travel vlogger Yuan Wenwen guides them. Together, they take in breathtaking views of the canyon below and tackle the adrenaline-pumping challenge of bungee jumping from the bridge.

They then visit the Hongfeng Lake, where they sail to the center to admire the Huayu Cave Bridge, a basket-shaped bridge. They learn how the bridge earned itself the Gustavus Lindsahl Award, the world’s most prestigious bridge construction award. From a distance, they spot bird nests built atop the bridge, a testament to Guizhou’s commitment to ecological preservation and the harmony with nature.

Along the lakeshore, they enjoy a local delicacy, thorn pear, and discover how bridges have played a crucial role in bringing Guizhou’s specialties to the world.

The journey concludes at the under-construction Huajiang Canyon Bridge, soon to be the world’s tallest. On the catwalk of the bridge, Liu Hao, the chief engineer, shares the significance of this monumental project and its promise to enable a breathtaking “37-second crossing” of the canyon.

“Standing there, I felt like we were connecting cultures, technologies, and ideas,” Ole says. This bridge-themed journey gives him a deeper understanding of the critical role bridges play in Guizhou and solidify his commitment to building a bridge of friendship between China and Norway. 

YouTube Link:https://youtu.be/PclTXlgP7ZA