Summary
- Former Binance CEO CZ recommended temporary suspension of withdrawals at Bybit.
- This is interpreted as a security precautionary measure following the ETH cold wallet hacking incident.
- CZ expressed willingness to provide support if needed.
Following Bybit CEO Ben Zhou's acknowledgment of an Ethereum (ETH) cold wallet hack, Changpeng Zhao (CZ), founder and former CEO of Binance, recommended on the 21st (local time) via X (formerly Twitter) to "temporarily suspend all withdrawals as a precautionary measure."
He stated, "This is not an easy situation to handle. It would be better to temporarily suspend all withdrawals as a security precaution," adding that "we will provide all necessary support if needed."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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