While details are still emerging, this hack appears to be due to private key compromise, someone got access to Bybit’s keys and drained funds. The stolen assets include Ethereum (ETH), Tether (USDT), USD Coin (USDC), and other ERC-20 tokens. Since Bybit operates on multiple chains, the hacker has been able to move funds through DeFi protocols, bridges, and mixers, making it hard to track and recover the stolen assets. Lessons to Learn Self-Custody is Key Keeping large amounts of Bitcoin or any asset on an exchange is a risk. Exchanges remain prime targets for attackers. If you don’t control the keys, you don’t control the coins. Minimize Exposure to Complex Smart Contracts Many DeFi protocols introduce security risks. Smart contracts can be exploited, and multi-chain transactions create vulnerabilities. Bitcoin’s simplicity and security-first approach help mitigate these risks. Bitcoin Transactions Are Final In response to the hack, some networks are blacklisting addresses, but this approach is reactive and unreliable. Bitcoin, on the other hand, operates on a trustless, final settlement system, meaning no arbitrary reversals, no rollbacks, and no centralized control. Why Bitcoin is the Safer Choice Bitcoin’s architecture prioritizes security, decentralization, and finality. Unlike platforms vulnerable to smart contract exploits or multi-chain attacks, Bitcoin remains a stronghold of financial sovereignty. The takeaway? Hold Bitcoin. Self-custody your savings. Stay secure. Stack sats, stay safe, and avoid the noise.