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@ Ferenc Kovács
2025-02-22 08:17:14
🚨 Bybit hack: Ethereum’s weakness exposed & why it can’t happen to #Bitcoin 🛡️
Bybit recently suffered one of the biggest hacks in crypto history: 💀 $1.5 billion worth of #Ethereum (~400k ETH) was stolen. The aftermath? Over 350k withdrawal requests flooded the platform 📈.
Bybit CEO Ben Zhou 🧑💼 admitted the breach bypassed the entire multisig process 🔑 — no one knew what they were signing. Hardware wallets showed the correct addresses ✅ but failed to display hidden smart contract code 🧩 that gave hackers complete control.
🕵️♂️ The Lazarus Group from North Korea 🌍 is suspected. Shockingly, this hack is 50x larger 💥 than Binance’s notorious 7,000 BTC hack at $4k each. Even more striking: North Korea now holds twice as much ETH as Vitalik Buterin, Ethereum’s creator 😱.
⚖️ The moral dilemma: Should #Ethereum roll back the chain to block the regime’s access?
• ⏳ Rollback = Centralization risk.
• 💣 No rollback = Supporting a regime using stolen funds for weapons.
Tough choice — but this cannot happen with #Bitcoin.
Why?
• 🏗️ Simple, transparent transactions mean fewer vulnerabilities.
• 🚫 No hidden smart contract code to exploit.
• 🛡️ Base layer security first — innovation happens on top (⚡ Lightning).
🔒 Less code = fewer bugs.
With #Bitcoin, there’s no issuer, no controller 🌍. Even if North Korea stole BTC, it would remain theirs — no rollbacks, no debates. Bitcoin is pure money, neutral and untouchable 💛.
💡 Lesson? Only use Bitcoin-only platforms like @Strike ⚡. Bybit’s huge loss came from complexity. Ethereum’s smart contracts created extra attack surfaces 🎯. Binance lost 7k BTC; Bybit? 50x more because of ETH & other assets.
❗ Not your keys, not your coins. 🔑
🛠️ Want to learn how to self-custody your #Bitcoin safely?
Join the next Bitcoin Miskolc event:
📅 March 21–23, 2025
📍 Hotel Atlantis, Hajdúszoboszló 🏨
🌐 bitcoinmiskolc.hu
🐦 @bitcoinmiskolc
✨ Bitcoin. Simple. Secure. The money of the future. 💛
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