CZ Defends Bybit's Decision to Suspend Withdrawals Amid Hack

In Brief:

CZ supports Bybit CEO Ben Zhou’s decision to handle the security breach.

He emphasizes that suspending withdrawals can prevent further damage and enhance security.

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Binance founder CZ has weighed in on the Bybit hack, stating that temporarily suspending withdrawals after an attack is a prudent move. He pointed out that Lazarus Group’s sophisticated tactics have successfully breached multiple exchanges, including Bybit, Phemex, and WazirX, making security reassessment a top priority. While he acknowledged the potential panic caused by halting withdrawals, CZ maintained that security should come first before resuming normal operations.

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