Bybit reveals security overhaul in response to $1.4B hack
Bybit unveiled a major security overhaul following its $1.4 billion hack in February, with upgrades across audits, wallet protection and information security.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has revealed a comprehensive security overhaul following its $1.4 billion hack in February.
On Feb. 21, Bybit was hacked for over $1.4 billion in liquid-staked Ether (STETH), Mantle Staked ETH (mETH) and other ERC-20 tokens, making it one of the largest security breaches in crypto history.
To bolster defenses, Bybit has implemented a three-pronged security upgrade, targeting security audits, wallet fortifications and information security improvements, according to a June 4 announcement shared with Cointelegraph.
