Bybit exchange has been hacked

The Bybit exchange has been hacked. This is a new lesson for newbies and those who have not yet learned that "It's not your keys, it's not your money." This maxim always ends up being fulfilled in the crypto market. And that is told to you by someone who had to learn it the hard way. In my case, it was a lending application that ended up breaking with my borrowed Bitcoins. That was a long time ago and curiously this year it is possible that I will recover something.

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The hacker seems to have made off with 1.4 billion Ether and derivatives. Curiously, the theft was in a cold wallet, putting into question the security of the wallet or perhaps it was an inside job. That will be known in the next few days. Bybit has said that it can back up the loss, we will see if that is the case. But what is clear is that your assets cannot be safer than with you.
Exchanges are that, a method of exchange, not a place to deposit our funds.
So stay safe and take care of your Crypto Assets.

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