Yesterday, the cryptocurrency community was rocked by a significant piece of news: the global leading exchange Bybit reportedly suffered a security breach, with over $1.4 billion worth of assets—mainly staked ETH (stETH), Mantle staked ETH (mETH), and other ERC-20 tokens—stolen from an Ethereum cold wallet. On-chain security expert ZachXBT quickly pointed out that this might again be the work of North Korea's notorious Lazarus Group, a gang of hackers known for targeting crypto platforms.
The scale of this theft is astonishing. Could this become the largest crypto heist in history? The Bybit team has promised full compensation to affected users, showcasing their financial power, but it also raises questions about the security of centralized exchanges. Some users on X have said, 'This is a wake-up call for the entire industry; cold wallets are not foolproof, and centralized platforms are still a target for hackers.'
More dramatically, when this incident broke out, the regulatory winds were also changing. Just hours after the theft was exposed, it was reported that the U.S. SEC abandoned its lawsuit against Coinbase, and the Trump administration seemed more friendly towards cryptocurrencies. Could this be a turning point for the industry? Or is it too early to celebrate? Bitcoin bulls have already gotten excited, with some predicting that BTC might break through $100,000 again, as confidence in decentralized assets has returned.
What do you think? Is Bybit's full compensation a show of strength, or does it expose greater risks? Come share your thoughts below!