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Bybit Hack: Bitget CEO Gracy Chen on Support and Web3 Security

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Summary
Nutrition label

63% Informative

Bybit, the prominent Dubai -based and second -largest cryptocurrency exchange in the industry, suffered one of the largest hacks in crypto history on Friday last week .

Hackers gained access to one of Bybit’s Ethereum cold wallets, stealing $1.4 billion worth of crypto assets.

Bitget CEO Gracy Chen discusses the challenges to be resolved for the Crypto Security and the requirement of a collective approach to prevent such hacks.

The hack exposed vulnerabilities in the Centralised Exchanges (CEXs) infrastructure.

The exact cause of the hack is yet to be identified despite various suggestions coming up.

CEO Gracy Chen on the menace of hacks in Web3 Industry says, “Crypto industry is still an emerging space even though it holds over a trillion dollars worth of assets.

VR Score

45

Informative language

34

Neutral language

48

Article tone

formal

Language

English

Language complexity

55

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Source diversity

1

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