Bybit cryptocurrency exchange security upgrade, strengthening full process security protection

After being hacked in February this year, the cryptocurrency exchange Bybit has quietly completed a new round of internal security protection system upgrades. It is understood that after the attack, Bybit immediately launched a 3D security upgrade plan: In depth audit: Within one month of the incident, Bybit completed 9 security audits, jointly implemented by internal experts and external independent agencies, and adopted over 50 new security measures and recommendations. Wallet security: In terms of wallets, Bybit has reformed its operation process and implemented stricter cold wallet solutions in terms of software and hardware. Specific measures include operating procedures, full supervision and protection of wallet transactions by security experts, the use of multi-party computing (MPC) and other models to enhance wallet protection, and the integration of hardware security modules (HSM) to achieve hardware level security protection. Information Security: The platform has passed the ISO/IEC 27001 Information Security Risk Management certification, and all internal and external communications use end-to-end encryption. Despite being attacked, Bybit continued to operate normally after the incident, completing user withdrawal requests within 12 hours, minimizing the impact on users, and the exchange bore all losses. Currently, through Bybit led&34; LazarusBounty& 34; The platform's operation to track stolen funds is still ongoing, with over $2.3 million in bounty rewards issued so far. Although the latest reports released by third-party organizations such as Kaiko indirectly reflect Bybit's ability to quickly recover, liquidity, and resilience within 30 days, this incident has sounded an alarm for the entire industry. The financial services industry still has a long way to go in strengthening its security fortress and combating increasingly mature hacker groups.