TechFlow reported on February 22 that Bybit CEO Ben Zhou posted a statement saying, "I agree with CZ. If this hack had occurred through infiltration of our internal systems—such as any component of our withdrawal system—or if one of our hot wallets had been compromised, we would certainly have paused all withdrawals until the root cause was identified. However, in yesterday's incident, the compromised wallet was our ETH cold wallet using Safe, which is entirely independent of our internal systems. Therefore, I had no difficulty deciding to keep all Bybit withdrawals and system functions operating normally.
During last night’s turmoil, Binance and CZ were among the many partners and industry leaders who offered us support. We are deeply grateful for all the assistance received, which has truly moved us. This was undoubtedly a tragic event for Bybit, but it has also demonstrated the unity and strength of our entire industry. I believe things will only get better from here."
Earlier report: CZ shared detailed thoughts on the recent hacking incident, stating that proposing a withdrawal suspension was a prudent measure.
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