The Bybit Hack: What REALLY Happened & How to Protect Your Crypto

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In this video, the DeFi Doctor breaks down the massive $1.5 billion Bybit hack, explaining exactly how hackers drained 401,000 ETH from one of crypto's largest exchanges. Learn how Bybit's CEO managed to achieve a remarkable 1:1 recovery to protect users' funds, why this hack demonstrates vulnerabilities even in top-tier exchanges, and the critical security steps every crypto holder must take immediately. Whether you're new to crypto or a seasoned investor, this analysis reveals why exchange security can never be taken for granted and how to properly safeguard your digital assets.

Key Takeaways:

➤ How hackers exploited a vulnerability during a routine cold-to-warm wallet transfer
➤ The unprecedented way Bybit secured loans and liquidity to replace $1.5 billion in stolen ETH
➤ Why hardware wallets are essential for anyone serious about crypto security
➤ The dangers of SMS-based two-factor authentication and how to use stronger alternatives
➤ How phishing attacks target crypto holders and ways to identify them
➤ Why diversifying storage across multiple security solutions protects against catastrophic loss
➤ The parallels between this hack and previous exchange failures like FTX and Mt. Gox

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