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.