Bybit CEO Reveals Bitcoin Hack Attempt via Chainflip Bridge

Bybit's CEO, Ben Zhou, recently disclosed a security breach involving an attempted Bitcoin (BTC) hack through Chainflip, a cross-chain bridge. This incident underscores the growing risks in the crypto ecosystem and the need for enhanced security protocols. Bybit aims to leverage Chainflip's capabilities to halt unauthorized transactions and mitigate further threats to its platform.

In response to this challenge, Bybit plans to introduce an innovative bounty program, incentivizing individuals who can assist in tracking or halting the illicit transfer of funds. This initiative is part of Bybit's comprehensive strategy to bolster asset safety and reinforce community trust. The exchange remains vigilant in its efforts to recover funds and safeguard the interests of its users.