Crypto Community Reacts to the Industry’s Biggest Ever Exchange Hack
- The ByBit exchange was hacked, resulting in the theft of $1.5 billion (AU $2.35 billion).
- Binance co-founder Changpeng Zhao (CZ) highlighted multisig wallets as a common vulnerability in recent hacks, including the ByBit incident.
- Ledger recommended using ‘Clear Signing’ to prevent blind signing issues, which might have contributed to the hack.
- Fireblocks suggested off-exchange settlement and MPC technology as potential solutions to enhance security and prevent similar exploits.
The cryptosphere was plunged into chaos following news that the ByBit exchange had been hacked to the tune of US $1.5 billion (AU $2.35 billion).
As the dust begins to settle, industry leaders are starting to make public…
