Bybit Sees over $4B 'Bank Run' After Crypto's Biggest Hack
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Bybit experienced a $1.5 billion hack and over $4 billion of "bank run," leading to a total $5.5 billion outflow within the exchange.
Bybit CEO Ben Zhou addressed the incident, highlighting the need for loan coverage, user support, and the impact of a temporary shutdown of Safe wallet functionalities.
The cause of the hack remains unclear, with Bybit investigating whether it was a problem with their laptops or on Safe’s systems.
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System shared this topic on
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Bybit experienced a $1.5 billion hack and over $4 billion of "bank run," leading to a total $5.5 billion outflow within the exchange.
Bybit CEO Ben Zhou addressed the incident, highlighting the need for loan coverage, user support, and the impact of a temporary shutdown of Safe wallet functionalities.
The cause of the hack remains unclear, with Bybit investigating whether it was a problem with their laptops or on Safe’s systems.
-
Bybit experienced a $1.5 billion hack and over $4 billion of "bank run," leading to a total $5.5 billion outflow within the exchange.
Bybit CEO Ben Zhou addressed the incident, highlighting the need for loan coverage, user support, and the impact of a temporary shutdown of Safe wallet functionalities.
The cause of the hack remains unclear, with Bybit investigating whether it was a problem with their laptops or on Safe’s systems.
Actually, this is good news, because they were able to fulfill all those redemptions. It means they were not doing shady things with all those deposits.
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Nacho keys
Nacho money -
You wouldn't download a wallet.
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System shared this topic on
