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Hacker steals record $1.46 billion from Bybit ETH cold wallet
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<blockquote data-quote="bazang" data-source="post: 1118122" data-attributes="member: 114717"><p>No consumer/wallet protections in cryptos. The best one can hope for is that the exchange has enough cash to cover the consumers' losses and they are willing to cover the losses. Otherwise, there are absolutely no requirements to cover consumer against loss if the infrastructure is hacked. The whole crypto industry does not want to be required to provide consumer protections in such cases. There are entities within the crypto industry that are mightily mad that Bybit is covering the losses. Gee. Now let's think as to why that is the case?</p></blockquote><p></p>
[QUOTE="bazang, post: 1118122, member: 114717"] No consumer/wallet protections in cryptos. The best one can hope for is that the exchange has enough cash to cover the consumers' losses and they are willing to cover the losses. Otherwise, there are absolutely no requirements to cover consumer against loss if the infrastructure is hacked. The whole crypto industry does not want to be required to provide consumer protections in such cases. There are entities within the crypto industry that are mightily mad that Bybit is covering the losses. Gee. Now let's think as to why that is the case? [/QUOTE]
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