Quote from: Mayor of ogba on Today at 10:41:02 AM

Quote from: Tmoonz on February 23, 2025, 11:09:19 AM

Quote from: Mayor of ogba on February 22, 2025, 03:29:43 AM

Quote from: Churchillvv on February 21, 2025, 10:09:40 PM

With the news of a serious hack on bybit a popular exchange wallet most us here uses, even though it has nothing to do with bitcoin directly yet I find it necessary to remind you all that leaving your coins or assets in an exchange wallet is a big red flag and for every reason always find a way to move your coins to a safe open source wallets.

Coin security should be a priority. buy bitcoin and never leave them on an exchange wallet or any wallet that does not guarantee good percentage of security.

With the hack that happened on the Bybit exchange yesterday, it will serve as a lesson to those investors who don't want to take the phrase "not your key, not your coins" seriously now because they would put themselves in the shoes of those investors who lost their assets on the Bybit exchange. For the newbies in this thread to get it clear and also do the right thing by keeping their bitcoin safe from centralized exchanges, there's nothing like an exchange wallet, but centralized exchanges, so newbies should help themselves and stop keeping their bitcoin on a centralized exchange like Binance, Kucoin, Gate, Bitget, and so on for a very long time so that they will avoid this type of bad news in the future.

It has already been confirmed that customers asset are 1 on 1 backed hence there was no customers lost of asset because the exchange is buoyant enough to absorb such heat so there was no direct lost of customers assets but on the exchange which they posted on x that bybit is solvent enough even if the lost is not recovered.

Bybit's CEO knows that Bybit users will no longer want to keep their assets on the exchange anymore so that they will not lose their assets in the future, so that statement by the Bybit CEO could just be a way of getting back the trust of its users so that they will keep using Bybit. Since you don't really know what is happening at the backend of the Bybit exchange, do not believe anything you see online. If you have assets there, go and withdraw your assets for your safety.

Words are not enough to restore trust to users. Action speak louder than words here. Since he has made promises to restore exactly the amount of each users asset back to the Bybit exchange then he should do that like he said. This will make the trust that Bybit is capable of saying things and getting it done. Users wont remove their funds from the exchange anymore if they are trading. Although if Bybit CEO fulfill their promises only a fool will want to fall victim of such incident for the second time. Well i know there are people who will still leave their funds in the exchange.