Bitcoin Suffers Significant Losses After ByBit Wallet Hack Raises Security Concerns

Cryptocurrency markets experienced a major downturn last Friday following the hack of ByBit’s cold wallet, leading to a significant drop in Bitcoin prices and widespread losses across the altcoin market. Binance CEO CZ publicly criticized Safe, the cryptocurrency platform that lost users’ assets following the incident, highlighting concerns about its security measures after the FTX collapse.