Exchanges Can’t Protect You: $1.5B Bybit Hack Changes Everything | Sergii Gerasymovych

In this episode, I dive into the shocking Bybit hack—one of the biggest security breaches in crypto history. A staggering $1.5 billion was stolen, exposing serious vulnerabilities in exchange security and raising critical questions about the safety of digital assets.

We break down how hackers forged wallet signatures and bypassed security measures, what this means for crypto investors, and why exchanges still aren’t as safe as they should be. I explore the role of cold wallets, the lessons learned from past collapses like FTX, and whether regulatory intervention can prevent future attacks. With speculation that North Korean cyber groups may be behind the attack, the FBI, Secret Service, and global agencies are now on the hunt to recover the stolen funds. But will they succeed? And how will this affect Bitcoin’s future, crypto liquidity, and overall market confidence?

Tune in as we analyze the impact of this record-breaking hack and what it means for the future of cryptocurrency.
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⏳Time codes:
00:00 - Introduction
00:41 - How did the Bybit hack happen?
02:55 - How to protect assets from hacks?
05:01 - Are the crypto assets safe on the exchanges?
06:06 - Will the bad actors be found and prosecuted?
07:24 - Who enforces the law and recovers money if a company is overseas?
09:04 - What should you do if you are hacked?
11:31 - Could Bitcoin drop to $20k?
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🔗 Links & Resources:
Twitter: https://x.com/sergiigera
Linkedin: https://www.linkedin.com/in/sergii-gerasymovych
Site: https://ezblockchain.net/
Personal website: https://gerasymovych.com
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