The editor has compiled the full text of Bybit CEO BEN's participation in our SPACE a few days ago. I have compiled a few key points with richer details: -It's not that there hasn't been a complete cessation of withdrawals, but rather that withdrawals are allowed in batches based on customer level. Retail investors can generally withdraw normally, but Ethereum cannot be withdrawn. Institutional customers will communicate and fully open up after 12 hours -SPACE has already stated that they will return the money as soon as possible through OTC trading and other means (if students who carefully hear this sentence go long in ETH, they should be able to make a small profit) -CZ suggests stopping withdrawals without any problem. If there is a problem with the hot money package, all withdrawals should be frozen. After reading it, SlowMist said there were no problems with the remaining parts, so he made the decision with peace of mind -Checked, there are no trojans on the computers of all those involved in signing. There are various possibilities, but it is currently impossible to determine which one to exclude, so we are still investigating. You can imagine a cold wallet as HSBC Bank. This incident was caused by a problem on the side of HSBC - I was intercepted while trying to retrieve my money, resulting in the theft of everything -There are four people responsible for signing, all in different network environments, and their computers are regularly checked. No Trojan horses were found afterwards. When signing, it is not in the same place, or even in the same country. It is a process where one person signs before signing again, and the URL and other details are checked each time. Still investigating which link went wrong -The auditing agency has issued a statement certifying that they have audited Treasury and confirmed that our cash and token reserves can fully cover the $1.5 billion loss -I can't imagine what would happen if the loss reached the level of 10 billion US dollars. We may have to consider selling the company -The luckiest thing is that USDT is also in one of Safe's wallets, at around $3 billion, which is twice as much as Ethereum. But that wallet has been largely untouched due to sufficient USDT reserves. I guess hackers may have been waiting for a while and lost patience, or they may not dare to move USDT because USDT is easily frozen -The primary task is transparency and regaining trust. The most important concern is the impact of this matter on the business, such as how many users have been lost, how many VIP customers have been lost, and how many institutions have been affected -In the future, cold wallets must be decentralized and such large assets cannot be kept in one wallet anymore. Why put $1.5 billion in one wallet? Can't we divide it into five? At least the losses won't be so concentrated. Perhaps because we have never been hacked before and are too confident in our deposit and withdrawal system, we did not think too much about this aspect and paid more attention to the signature environment and computer security. I think this is a mindset shift, no longer thinking about how to never be stolen, but assuming that we will be stolen, how to ensure that the loss will not leave us with nothing, but to control it within an acceptable range -Every month, there are drills for theft and system crashes, and this time it belongs to the P1 level -Bitget was the first to provide assistance without any conditions, and the contract was not signed Full text: https://mp.weixin. (qq.com)/s/WYsQYdadOPWgtGTMqQL2iA