mere reading the news of the hacked bybit exchange and the amount that has been stolen from it, it made me wonder if an exchange that should naturally be technologically strong can get hacked, what happens when a strong hacking teem decides to try out our nija banks that might not be well sophisticated regarding it security.
the Anonymous group have once threatened to hack the CBN and send money to citizen and we all took it as a joke. could that be possible?
secondly, crypto exchanges and the banks, be it central bank or the commercial bank, which is more susceptible to hack?
comparing crypto site to that of the Central Bank Of Nigeria doesn't make sense, you can only compare things that have same model of operations and share same characteristics. You can not compare a bank to a crypto site. do you know how many banks that has been broken into by thieves and funds stolen? you can not count, but no one can break into crypto site excerpt hackers. no matter the security on your site they are people that know more than you. so no site is more secured than others, is just that they have no plan you yet. we are in internet age, the most dangerous age.
Beside CBN store physical funds, while Crypto funds are digital. hacker will not waste their time and resources on Bank with physical funds over digital coins. Bybit was hacked and within 24hrs the hacker has been identified, that is also part of cyber security quick to identify hackers. Crypto exchange sites are more secured than bank, when back got hacked the management don't announce it, they just fix it in other not to lose customers. I think the reason Bybit announced their own is because the hacker stole in billions, if it was million dollars they would've just let it slide. The hacker was so greedy.