The hack is a big lost to Bybit exchange and to those that were affected. However, the security of wallet is something that every investors must consider before thinking of buying Bitcoin because it determine the safety of your Bitcoin asset. So I would say that Bybit exchange hacking should be a serious warning to investors to be very careful about the kind of wallet they will keep their asset to avoid any uncertainty that will result to losing digital asset to hackers.
Was there hack on bybit exchange?, that's serious, those who look up to the exchange for keeping their portfolio will realize ignorance is bad, I still wonder how they get into bybit, however this will have more negative impact on the traders because some of them doesn't use custodian wallet because exchange is there playground, Yes, their was a hack on bybit wallet yesterday and the hackers made away with $1.4B worth of ETH, though I was quite impressed that bybit alone was able to cover up for the loss , a loss that only binance can withstand, but I was surprised that they are financially able to withstand such loss and they didn't pause withdrawal on their exchange, kudos to them, hope they learn from this an close any loop hole that grant the scammers such access.
As for those still saving their asset in an exchange with all this security breach going on, is either they are just ignorant of the danger it poss to their asset or they are just stupid, I hope they learn with This incident that took place, because if bybit wasn't able to cover for the losses themselves, by now, the exchange would have been shot down, and their funds gone or trapped in it.
Finally, those set's of investors staking their asset in an exchange should also learn from this because when staking your asset in an exchange, youe asset will mostly be in the exchange for the duration of time you are staking it, so we see the risk involve?
If your asset is being staked, you also will also lose you money because if bybit wasn't able to cover up for the losses, everyone would have felt the brunt of what the hackers did.
Despite what happen to Bybit they still manage to make their platform operational and that's good because they stop the market to bleed more. This is the reason why the market recover fast and we see it going back to its price. There are many reminders to people now that they should never leave their funds on exchange although big exchange can cover up those losses for now, but we don't know on when they can continue to cope up with it.
Also not fan of staking into their platforms especially those with have long lock in periods, People should erase some thoughts to go with it and try to earn few bucks from them since the risk is high than there earnings with those feature.
So better always do precautionary measure and aim for safety never leave your funds on exchange.