Bybit’s Security Overhaul After Massive Crypto Hack: A New Standard in the Industry

Following a record-breaking multi-stage attack on Bybit, the world’s second largest cryptocurrency exchange by trading volume, the company is making sweeping changes to its security protocols. The hack, which exploited a compromised external multi-signature service, did not breach core infrastructure or systems, but it underscored the growing sophistication of cyber threats in the crypto space. Bybit has taken proactive measures to strengthen its defenses and enhance platform integrity by implementing three key strategies: auditing, wallet fortification, and enhanced information security practices.