The staggering crypto hack of Bybit, amounting to $1.46 billion, has unfolded with ZachXBT identifying the North Korean hacker group Lazarus as the perpetrators. As the largest crypto exchange hack in history, the response was swift and widespread throughout the community.
Support for Bybit
In light of the hack, crypto entities have shown support for Bybit. Tron's founder Justin Sun noted the network's assistance in tracking funds. Similarly, exchange OKX deployed its security team to aid Bybit's investigation.
Calls to Stop the FUD
As news of the hack spread, some users called to stop the fear, uncertainty, and doubt (FUD). Coinbase's Conor Grogan expressed high confidence in Bybit's platform, noting continuing withdrawals and distinguishing the situation from FTX.
Security Advice for Users
Members of the crypto community provided security advice. The Vice President of Blockchain at Yuga Labs advised using multifactor authentication and hardware wallets.
The Bybit hack has again brought cybersecurity into focus within the cryptocurrency industry. While the organization works to manage the situation, community members highlight the importance of enhanced security measures for users.
