The cryptocurrency market faces another wave of significant cyber attacks, with Bybit's breach being the most devastating.
New Attack on Mask Network
On February 27, the Cyvers platform detected suspicious transactions amounting to $4 million from an address linked to Mask Network founder Suji Yan. The cryptocurrency associated with this attack included various assets like ETH and MASK tokens. After the attack, the cryptocurrency was transferred to six different addresses to obscure the trail.
Bybit Hack: Implications
On February 21, Bybit lost $1.4 billion due to an attack linked to North Korea's Lazarus Group, marking the largest hack in crypto history. Following the attack, there's been a trend of asset withdrawal from centralized exchanges.
Staking Risks and Rewards
Staking on the Ethereum blockchain provides regular payouts, but also involves risks like the 'slashing' mechanism. Each blockchain carries its own unique risk profile.
Recent incidents highlight the need for strengthened security measures in the crypto sphere and the importance of a proactive approach to asset protection.
