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
Exchange no dey safe to store funds. Non custodial wallet nah the best wallet to take store funds but e no mean say criminals no fit steal your funds. Victims wey lost their funds for non custodial wallet most times store their seed phrase electronically or fall to phishing or malware attack. So you sef get a role to play to keep your funds safe.
crypto exchanges and the banks, be it central bank or the commercial bank, which is more susceptible to hack?
Cryptocurrency dey more susceptible to hacks but both of them nah different systems. Bank dey centralized while crypto dey decentralized and each get different vulnerabilities.To steal money from bank you go either stage a physical robbery or breach the bank data security, but dem fit easily track and reverse the transaction. While to steal crypto from personal wallet or exchange, criminals fit use phishing, malware, dust attack, code exploitation etc. And the fact say crypto dey anonymous and the transaction dey irreversible nah the more reason criminals dey like am.