#BybitSecurityBreach Trust in Bybit and centralized exchanges has been shaken following a hack that resulted in the theft of $$ 1.5 billion in Ethereum. Despite Bybit’s assurances that customer funds are protected, many investors are reconsidering its security practices.

This type of incident reinforces the need for greater transparency and security on exchanges. Some users may continue to use the platform if it demonstrates effective measures to prevent further attacks, such as independent audits and enhanced security. However, others may choose to withdraw their funds and seek alternatives, such as personal wallets and decentralized exchanges, which offer greater control over their assets.

If Bybit can recover some of the funds or compensate customers without loss, it may minimize the damage to its reputation. Otherwise, trust may take years to rebuild, as has happened with other exchanges that have suffered attacks in the past.