With so much shorts going on in the market right to this day. Truly the Bybit hack raises a lot of red flags, not just about exchange security but also about potential insider involvement. The fact that the breach targeted a cold wallet which is supposed to be offline and secure suggests that either the attackers had an advanced exploit or someone with inside access wanted it to happen.
If the Lazarus Group is really behind this, it wouldn’t be surprising they’ve pulled off some of the biggest crypto heists in history. But it’s also possible that this is just the easiest scapegoat. North Korean hackers being blamed for a theft conveniently shifts the focus away from any internal failures or security lapses within Bybit itself.
Also, Bybit’s assurance that “user assets are safe” is a standard PR move, but $1.4 billion is no small amount. Even if they cover losses, the attack will shake confidence in the exchange and possibly lead to stricter regulations in the crypto space. It’s another reminder that no exchange is 100% safe, and keeping large amounts of funds in centralized platforms always carries risk. Read Bybit Hack: A Cybersecurity Catastrophe or an Inside Job?
Do you think this was purely external, or does it feel like an inside job to you?