The recent Bybit hack is a geopolitical issue rather than a fundamental flaw in cryptocurrency security, according to Crucible Capital’s Meltem Demirors.

Speaking on CNBC’s “Power Lunch,” Demirors and TrustedSec CEO David Kennedy linked the attack to North Korea’s Lazarus Group, which has a history of targeting digital assets.Kennedy noted that the hack mirrored past cyberattacks that relied on social engineering tactics to compromise developer accounts.The attack targeted Bybit’s Safe Wallet infrastructure and moved funds through a network of 50,000 addresses to obscure transactions.

Demirors noted that an attack like this could have severely impacted Bybit in 2022 or 2023, but improved cooperation between security providers, exchanges, and governments has enhanced asset tracking and freezing efforts.

Both experts agreed that the attack highlights the need for heightened security but does not undermine Bitcoin’s btc-4.02%Bitcoin investment case.“This is a North Korea issue. It will continue to be North Korea issue,” Demirors stated. “The Trump administration is smart on crypto. They view this not as a crypto issue.” Kennedy added that while cryptocurrency systems are designed to be secure, human vulnerabilities remain the biggest risk.#BinanceLaunchpoolRED #TraderProfile #BTCDipOrRebound