Bybit expresses its deep gratitude as the encryption industry is united against security threats – Cryptomode

DubaiThe UAEand February 23, 2025 / PRNEWSWIRE/ – PipeThe second largest exchange of encrypted currencies in the world through trading, hearts extend thanks to the global encryption community over the overwhelming support he received in the wake of a recent security incident. Not only did this unprecedented symptom of solidarity blybit, but also laid the foundation for stronger measures in the industry level to face and prevent hacking incidents. One of the institutional liquidity providers to the leading Blockchain security companies, the rapid and coordinated response has sparked the power of the web3 community.

A unified front against threats

Once the incident was discovered, the BYBIT security team took immediate measures – the status of systems, money insurance, and cooperation with senior cybersecurity experts. The Stock Exchange received overwhelming support from the main players throughout the industry, and they all work together to track and alleviate the effect of exploitation.

Ben ChuParticipant founder and CEO of BYBITHe expressed his gratitude:

“It was a difficult period for Bybit, but there is one clear thing – their partners have our backs. Support from Antalpha Global, Bitget, Pionex, Mexc, Sosovalue, Galaxy Digital, Falconx, Lido Finance, Solana FoundationTon Foundation, Ghaf Capital, Fenbushiand bitvavocom, tether Many others were less incredible. Your confidence, your quick work and solidarity means everything. We advance, stronger and more designed than ever. Thank you for standing with us. “

Industry leaders take immediate measures

Many of the main players in DEFI and CEFI quickly mobilized to prevent further movement from stolen money and support market stability:

• Al -Madar, Al -Hadam, SynFUTERES, Myx, Theruster and PowLTO Black exploitation titles, which prevents unauthorized transfers.
• series It has been tracked and quickly published for exploitation portfolio addresses, allowing coordinated response at the industry level.
• SIS Bridge through the series Ascended to prohibit the related addresses, restricting the attacker’s ability to wash the assets.
• Zero shades The global response team around the clock throughout the week, closely collaborated in tracking the bad actor, identifying identity, tracking funds, and law enforcement contacts to support investigation and recovery efforts.
• Founding customers, including TMSI, Trading Bayside, Mathrix, Wintermute, Cumberland, GSR MarketsMaintain their trading positions, and enhance stability amid uncertainty.

Ben added: “Their trust in us, despite the circumstances, talks about volumes about the entitlement and flexibility of this industry.” “It shows a decisive moment proving that the most powerful Crypto players stand together when it’s more important.”

A community standing together

Bybit has also admitted fixed support from its customers, merchants and the broader user base. The letters of encouragement and patience from society were effective, as the exchange around the clock works to enhance security measures and protect money.

Bin said: “Although this was a difficult moment, it is also a strong reminder of the reason we were here – to build an open, flexible, and traumatic future.” “The real work has just started, and with this level of unity in this field, we know that we will return stronger.”

Bybit is still committed to transparency and will continue to provide updates as they carry out additional safety improvements. The stock market works closely with industry leaders to set new standards for crisis management, ensuring the safety and confidence of its users while enhancing the broader industry defenses against future threats.

#Bybit / #thecryptoark

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About bybit

Bybit is the second largest exchange of cryptocurrency in the world through trading size, serving a global community of more than 60 million users. Founded in 2018, bybit redefines openness in the decentralized world by creating a simpler and equal environmental system for all. With a strong focus on Web3, Bybit is strategically inconsistent with the leading Blockchain protocols to provide a strong infrastructure and drive innovation on the chain. She is famous for her safe custody, various markets, anchor user experience, advanced Blockchain tools, embodies the gap between Trafi and Defi, empowering builders, creators, and lovers to cancel the full capabilities of Web3. Discover the future of decentralized financing in bybit.com.

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