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

submitted 1 week ago* (last edited 1 week ago) by [email protected] to c/[email protected]

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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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[–] [email protected] 2 points 1 week ago (1 children)

Ha! It's a Bitcoin cash advertisement. Laughable.

[–] [email protected] 0 points 1 week ago* (last edited 1 week 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.