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Crypto Exchanges Should Halt Withdrawals Post-Hack, Binance Founder CZ Strongly Recommends

  • Following the recent hack of Bybit cryptocurrency exchange by the Lazarus Group, Binance founder CZ expressed growing concerns about security in the industry.
  • CZ recommends secure measures such as securing private keys and backups, using trusted exchanges, and implementing proper backups to safeguard crypto assets.
  • CZ emphasizes the need for immediate withdrawal halts after detecting a breach, allowing exchanges to fully investigate and address security issues before resuming operations.
  • Bybit CEO Ben Zhou openly disclosed the breach and assured users that the internal Bybit systems remained intact, enabling uninterrupted withdrawal functions.

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