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Ethereum: The Root of the $1.5 Billion Bybit Exploit (read.cash)

submitted 2 weeks ago* (last edited 2 weeks ago) by CashDragon@realbitcoin.cash to c/crypto@lemmy.ml

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Recently, the exchange Bybit suffered an attack that resulted in the loss of over $1.5 billion from a supposedly "cold" wallet. This incident highlights a larger issue: the complexity of the Ethereum blockchain, which can make even the most cautious institutions vulnerable to unforeseen attacks. Read more....

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[–] CashDragon@realbitcoin.cash 0 points 2 weeks ago* (last edited 2 weeks ago)

After a detailed examination of the situation the author is proposing Bitcoin Cash as a solution to this type of issue. The UTXO model is far superior in terms of security over ETH's account based model.