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‘Ethereum Classic’: Cardano’s Hoskinson Reacts to Bybit Crypto Hack
In a shocking turn of events, the cryptocurrency market has been shaken by a major hack on the popular exchange Bybit. The incident saw over $200 million worth of stETH converted into ETH on the open market, sending shockwaves through the community. In the aftermath of this unprecedented breach, Cardano’s CEO Charles Hoskinson took to social media to share his thoughts.
“Bybit has made a bold move by being transparent and taking swift action in the face of adversity,” Hoskinson tweeted. “While I am deeply concerned about the scale and impact of this hack, it is heartening to see the exchange prioritize security and investor trust.”
Hoskinson’s statement was met with both admiration and criticism from the crypto community, with some praising Bybit’s prompt response while others expressed concerns over the potential long-term implications of the breach.
In related news, the North Korean hacker group Lazarus has been identified as the perpetrators behind the attack by blockchain intelligence firm Arkham Intelligence. The team at Arkham presented conclusive evidence linking Lazarus to the hack, which was then shared with Bybit’s security team to aid in their investigation.
Bybit CEO Ben Zhou has assured users that withdrawal services have resumed and all platform functions remain operational. Despite the severity of the breach, he emphasized his team’s dedication and around-the-clock efforts to address client concerns and ensure platform stability.
In a surprising twist, over 350,000 withdrawal requests were processed within hours, highlighting the unprecedented level of withdrawal activity following the attack.
The Bybit hack serves as a stark reminder of the ever-present threat of cyberattacks in the crypto space.
Source: u.today
