It was stated that the hackers used time to their advantage by practicing great patience and waiting for the right time to strike, as well as utilizing multiple accounts to make their actions seem random and less perceptible. However, this massive withdraw triggered alarms in the security system as they have since frozen all withdrawals. For the next week, all deposits and withdrawals will be frozen, yet will continue to take place on ; the freeze comes to ensure that is properly able to audit its entire system so that a hack of this nature and magnitude cannot possibly take place again.
After the hack, the crypto community rallied around and CZ by showing support across social media. Even Justin Sun of offered to personally onto and but various in a bid to keep the market stable. At Bybit, we personally support and CZ because of their transparency and commitment to customer satisfaction. We wish them a speedy recovery in this time of need. Prior to the attack, CZ had an AMA scheduled on Twitter, and in spite of everything that occurred, relatively few questions touched upon the topic of the hack, showing that the community has immense trust for the platform.
Spot exchanges, such as use Hot Storage Wallets for quick, automated, transactions. At , our platform is built on the industry’s leading hierarchical deterministic cold system which stores all digital assets of users and the platform. Each deposit address assigned to users is a cold address. Digital asset collection and withdrawal are done through offline signatures. The withdrawal review includes all deposit records, transaction records, individual account balances and platform account balances, to safeguard the asset security of the users and the platform. In order to create a positive user experience, we have invested in more human resources to conduct withdrawals 3 times per day. We are HODLers and traders, just like you, so we chose to employ the greatest level of security possible. With , your funds are always safe.
Published at Wed, 08 May 2019 03:59:10 +0000
