Some Bybit leaders resign after Notcoin (NOT) airdrop incident
According to Wu Blockchain, several CEOs of cryptocurrency exchange Bybit "voluntarily resigned" after the Notcoin (NOT) airdrop went wrong, forcing the exchange to pay $26 million in compensation to 320,000 users, and recruiting new technical managers and spot trading experts.
The cause of the delay was said by Bybit co-founder and CEO Ben Zhou to be due to the time of recording NOT deposits coinciding with the exchange's regular maintenance schedule, and at the same time user traffic doubled - Three times during this period, circuit breaker protection mechanisms in the system were activated, leading to service interruptions.
To compensate for the incident, Bybit implemented a comprehensive compensation plan worth 26 million USDT for all affected users.
