Following a recent hack, Bybit lost a significant sum. Competitor Bitget offered support through a substantial transfer of assets.
Bybit Faces Trust Challenges
After the hack, Bybit faced a significant trust issue as users panicked and attempted to withdraw funds. The exchange managed to process over 350,000 withdrawal requests, successfully handling 99% of these transactions.
Bitget Strengthens Cybersecurity
In response, Bitget blacklisted wallets associated with hackers, with CEO Gracy Chen saying their security team is actively monitoring such activities. Bybit continues its efforts to restore trust in the crypto market.
Crypto Community Response
The crypto community is actively discussing the measures needed to prevent such incidents, including enhancing cybersecurity practices and closely monitoring suspicious activities related to transactions.
The events surrounding Bybit and Bitget serve as a stern reminder of the necessity for heightened protection in the crypto industry. The collaboration and support between exchanges can be deemed as a crucial step towards achieving greater security.
