Bybit Hack Gets Complicated – Binance Founder Changpeng Zhao Issues New Statement on the Attack
Binance founder evaluated the latest developments regarding Bybit, which witnessed the biggest cryptocurrency hack in history.
Changpeng Zhao (CZ), founder of cryptocurrency exchange Binance, has criticized Safe’s handling of the latest security breach in the Bybit hack, condemning the company for using vague language in its statement.
CZ said the statement left “more questions than answers,” particularly regarding how hackers infiltrated the Safe Wallet developer machine and how the developer systems were able to access accounts operated by Bybit.
In the report published by Bybit, it was claimed that the Safe platform, where the assets were stored, was responsible for the hack. Safe, on the other hand, released a statement confirming this but also containing some uncertainties.
Related News BREAKING: Bybit Releases Final Report on $1.5 Billion Hack - They Claimed the Exchange Was Not to Blame, Revealed the Real Culprit
In a post shared on social media, CZ expressed his skepticism about Safe’s response and denied Binance’s claim that Safe was used for asset storage. He outlined a few key concerns:
Nature of the attack: CZ questioned what Safe meant by “taking over a Safe {Wallet} developer machine” and whether the breach involved social engineering, malware, or some other method.
Developer access to Bybit accounts: He expressed concerns about how a developer machine was able to interact with an account operated by Bybit and questioned whether unauthorized code was being made available directly.
Ledger verification bypass: CZ asked how attackers managed to bypass Ledger’s security verification process, and elaborated on whether this involved blind signing or improper verification by signers.
Target selection: He questioned whether the largest address managed using Safe was $1.4 billion and why the attackers focused on this particular target while potentially ignoring others.
#BybitSecurityBreach #BinanceCZ

Binance Founder #CZ ’s Urgent Warning: Secure Your Crypto Assets Now
Protect Your Cryptocurrency
Former Binance CEO Zhao Changpeng (CZ) has issued a critical warning to all cryptocurrency users: avoid shared private keys and pre-configured wallets. Such practices leave your assets highly vulnerable, with almost no chance of recovery if compromised.
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Key Takeaways from CZ's Warning
1. Shared Wallets Are a Disaster Waiting to Happen:
Sharing private keys or mnemonic phrases exposes your wallet to unauthorized access, enabling others to transfer funds without your consent. CZ urges users to abandon these risky practices immediately.
2. Best Practices for Asset Protection:
Use Self-Controlled Wallets: Ensure only you have access to private keys.
Transfer Assets Quickly: Move funds from insecure wallets to secure ones without delay.
Direct Transfers Only: Always receive funds directly into your personal wallet to minimize risks.
3. Real Risks in Shared Wallet Models:
Shared wallets make proving ownership and recovering funds nearly impossible, making them a significant threat to your financial security.
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CZ's Continued Mission Post-Binance
Since stepping down as Binance CEO in 2023, CZ has focused on blockchain, AI, and biotechnology while continuing to educate the crypto community on digital asset security.
In a rapidly evolving crypto space, security remains paramount. Avoid shared wallets, control your private keys, and protect your digital assets at all costs.

#CryptoSecurity #BinanceCZ #DigitalAssetProtection

$CHZ

The cryptocurrency community was left underwhelmed as former President Donald Trump’s initial executive actions avoided addressing cryptocurrency or blockchain policies. While some advocates expressed frustration, Changpeng Zhao (CZ), former CEO of Binance, urged the crypto world to adopt a long-term perspective and remain optimistic.
CZ Advocates Patience and Long-Term Vision
Taking to Twitter, CZ reassured the community with a simple yet profound message: “Good things take time. Everyone expects everything to happen in one day.” His remarks were aimed at calming the growing impatience among traders and enthusiasts who had hoped for immediate attention to the burgeoning cryptocurrency sector.
Many within the industry echoed his sentiments, highlighting that the desire for instant gratification could be counterproductive to the ecosystem’s broader objectives. Building a sustainable future for cryptocurrency requires strategic planning and a measured approach rather than quick fixes.
Trump’s First-Day Priorities
Trump’s initial executive orders focused on key areas such as immigration reform, energy policy, and restructuring federal operations. Despite pre-inauguration speculation suggesting potential action on crypto-related matters, these topics were absent from his first-day agenda.
While some crypto advocates expressed disappointment, others pointed out that foundational policies in other sectors might pave the way for future discussions on blockchain and digital assets.
A Lesson in Perspective for the Crypto Space
The absence of immediate cryptocurrency policies underscores the need for patience and strategic thinking. Industry leaders continue to emphasize the importance of aligning expectations with the reality of policy development cycles. The community remains hopeful that, as the sector matures, the administration will recognize the growing significance of digital assets in shaping the global economy.
Key Takeaway: The crypto community is reminded that impactful change takes time. While cryptocurrency wasn’t addressed on day one, industry leaders like CZ encourage optimism, reinforcing the belief that meaningful progress is a marathon, not a sprint.
#CryptoInsights #BinanceCZ #PolicyMatters #TrumpAdministration

CZ warns: “Avoid shared private keys or pre-configured wallets!” Sharing keys means others can access and drain your funds anytime, leaving you helpless.

🛡️ Stay Safe:
1️⃣ Use wallets only you control.
2️⃣ Transfer funds from shared wallets immediately.
3️⃣ Ask for direct transfers to your secure wallet.

Crypto security is in your hands—act wisely to protect your assets!

#CryptoSecurity #BinanceCZ #BinanceLaunchpoolBIO #BTCNextMove #ChristmasMarketAnalysis