Bybit is neither the first nor the last CEX to be hacked. Fortunately, this time Bybit is wealthy and able to compensate users out of their own pockets, otherwise it would be unimaginable. In history, many CEX closures were due to the holes that were too big to be filled by hackers. I used to frequently diss CEX, thinking that the blockchain world should all use DEX, which may have been the root cause of my troubles when I started Bitshare in 2013. After so many years, it must be admitted that many of CEX's technologies and user experiences are beyond the capabilities of DEX, so CEX will only evolve and not disappear. Bybit's incident this time has set a historical record in the hacker industry. It would be a pity if it were to pass for nothing. Taking the opportunity to promote industry progress has allowed these 1 billion dollars in tuition fees to not be wasted. In traditional finance such as stock exchanges, because exchanges only provide trading and settlement, and funds are stored in custodial banks, they are not afraid of hackers. In the industry, CEX can be said to integrate exchanges, banks, securities firms, and even wealth management platforms, and we know that there is a specialization in each profession, and one person cannot do everything well at the same time. This is also the reason for the frequent incidents of CEX, not only due to hackers, but also due to the misappropriation of customer funds (FTX, AEX, ZB, HOO) leading to crashes. The use of hosting and mapping can perfectly solve this problem. For example, the account opened by our Pacific Water Drop Fund on @ okx @ okxchinese adopts this method. CEX does not have to worry about financial security issues, and focuses on providing good trading services. Users also do not have to worry about CEX's problems causing financial insecurity. It is believed that entrusting asset security to the most professional custodian will gradually become an industry practice.