bybit act on recent hack?
Multiple users have received compensation from FTX after a long wait. However, some have already lost their funds due to Bybit's recent hack. Concerns arise about the security of Bybit and the reliability of non-Chinese crypto platforms. The CEO of Bybit confirmed a hack on their cold wallet, leading to significant losses. Users are now questioning the safety of their assets on Bybit and considering their next moves in the volatile crypto market.
NEWSHOME
A sophisticated attack manipulated Bybit's ETH multisig cold wallet, allowing the attacker to transfer assets to an unidentified address. Despite this breach, Bybit assures users that all other cold wallets are secure, and operations continue without disruption. The incident involved $ETH worth over $1 billion being moved. The crypto community questions the impact of a $1.5 billion ETH transfer on the market and whether exchanges like Bybit could collapse due to such incidents. Richard Heart's significant ETH holdings from last year are also noted. Despite the breach, ETH's value remains relatively stable. Bybit's CEO confirms the theft and emphasizes normal withdrawal operations.