When you purchase through links on our site, we may earn an affiliate commission.Heres how it works.
Lazarus
The attack itself was quite sophisticated.
Bybit kept ETH in a multi-signaturecold wallet, a method thats considered the safest possible.
It also means that to move any funds, multiple people would need to sign the transaction.
The news sent shockwaves throughout the cryptosphere.
Ethereum dropped roughly 4% on the news.
For the first time, in face of extremely bad news, the crypto industry showed incredible resilience.
Bybit served all of its customers during the bank run, and continues operating normally.
