Crypto Security Remains Untouched Amidst Record Hacks: Hacken CEO Claims Industry Needs Major Overhaul

Despite a recent record-breaking $1.4 billion theft from Bybit, the cryptocurrency industry appears to be clinging to familiar cybersecurity practices. Hacken CEO Dyma Budorin asserts that companies are failing to adopt comprehensive security strategies and rely on isolated measures like bug bounties and penetration tests. He argues that this is insufficient, urging for a shift towards layered security approaches similar to those seen in traditional industries. Budorin emphasizes the need for implementing supply-chain security, operational security, and blockchain-specific assessments for greater protection.