Bybit Faces Record US$1.5 Billion Crypto Hack: Cybersecurity Week

Leon is beefing its cybersecurity capabilities with a multimillion-dollar investment to address growing digital threats. On the global stage, Bybit's record US$1.5 billion crypto hack highlights the vulnerabilities of digital asset platforms, reinforcing the need for stronger security measures. Meanwhile, Fortinet’s 17% revenue growth in 4Q24 reflects increased enterprise demand for cybersecurity solutions. The intersection of AI and security is also gaining traction, with AWS, NVIDIA, and CrowdStrike backing 36 startups in their cybersecurity accelerator program, signaling the next wave of AI-driven security innovations.

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Mexico

Leon Invests Millions in Security, Creates Cybersecurity Unit

The municipal government of Leon is investing MX$290 million (US$14.2 million) in security, which will allow it to create a Cybersecurity Unit. In addition, the city is increasing police officer salaries by up to 40.7%. It reports a reduction of 18.13% in intentional homicides and a 4.6% reduction in property crimes, according to data from the Ministry of Security, Prevention, and Citizen Protection.

International

Fortinet Reports 17% Revenue Growth During 4Q24

Fortinet reported revenue of US$1.66 billion in the fourth quarter of 2024, an increase of 17% year-over-year. The company achieved a record GAAP operating margin of 35% and reported a 28% increase in annual recurring revenue (ARR) from its Unified SASE business.

Bybit Suffers US$1.5 Billion Ethereum Theft in Record Crypto Hack

Bybit, a Dubai-based cryptocurrency exchange, has reported a US$1.5 billion theft in Ethereum, marking the largest digital asset hack in history. The breach occurred during a routine transfer of assets between the company’s digital wallets. The attack happened as Bybit moved funds from a cold wallet, used for secure offline storage, to a hot wallet for daily transactions. Hackers exploited vulnerabilities during this transfer, redirecting the funds to an unknown address.

CrowdStrike, AWS, NVIDIA Pick Startups for 2025 Cyber Accelerator

CrowdStrike, in partnership with Amazon Web Services (AWS) and the NVIDIA Inception program, announced the selection of 36 startups for the second annual AWS and CrowdStrike Cybersecurity Startup Accelerator. The program, aimed at startups in the United States, Israel, and the European Union, will provide mentorship, technical support, and go-to-market strategies to drive innovation in AI-based cybersecurity and cloud computing.

AI, Data Privacy to Increase Litigation Costs in 2025

Eighty-five percent of companies globally expect their litigation spending to increase or remain the same in 2025, driven by legal risks related to AI, data privacy, and cybersecurity, says Baker McKenzie. The rapid adoption of AI and digital transformation can generate disputes over regulatory compliance, intellectual property, and ethics in the use of this technology.

UNICEF Trains Young People in Cybersecurity, Digital Safety

Over 500 young people participated in the Cyber Ninja Camp, an initiative by UNICEF and the Enterprise Incubator Foundation, with support from the UK Government. The program provided hands-on training in cybersecurity, media literacy, and creative storytelling to equip participants with skills for safer online navigation.