Leading cryptocurrency exchange Bybit recently lost over $1.46 billion in a hack. Binance's founder, Changpeng Zhao, assessed the situation and proposed measures to protect users.
Changpeng Zhao's Statement
Changpeng Zhao, founder of Binance, commented on the incident, calling on Bybit to temporarily suspend customer asset withdrawals pending further investigation.
> “This is not an easy situation to deal with. As a standard security measure, it may be advisable to temporarily suspend all withdrawals. I will provide any assistance necessary. Good luck.”
Response to Criticism
In response to a follower's claim that the suspension could cause panic, Zhao stated that the $1.5 billion threat is alarming enough and it's better to be cautious.
> “$1.5 billion is scary enough. Better safe than sorry now.”
Consequences for Bybit
Following the incident, Bybit CEO Ben Zhou assured that customer assets remain fully backed and that management is taking all measures to minimize the impact.
The Bybit hack incident highlighted the vulnerability of large platforms and the importance of security measures. Changpeng Zhao's remarks underscore the need for prompt actions and thoughtful decisions to mitigate risks.
