According to Crucible Capital's Meltem Demirors and TrustedSec CEO David Kennedy, the recent hack of Bybit is more of a geopolitical issue than a fundamental flaw in cryptocurrency security. They believe it is linked to North Korea's Lazarus Group, which has a history of targeting digital assets. The hackers used social engineering tactics to compromise developer accounts and moved funds through a network of 50,000 addresses to obscure transactions. Demirors highlighted the importance of collaboration in response to hacks and noted that improved cooperation between security providers, exchanges, and governments has enhanced asset tracking and freezing efforts. Both experts agreed that the attack emphasizes the need for heightened security but does not undermine Bitcoin's investment case. They believe that human vulnerabilities remain the biggest risk in cryptocurrency systems.



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