{"id":20395,"date":"2025-04-03T12:01:41","date_gmt":"2025-04-03T12:01:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20395"},"modified":"2025-04-03T12:01:41","modified_gmt":"2025-04-03T12:01:41","slug":"bybit-beefs-up-asset-security-following-1-45b-hack","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20395","title":{"rendered":"Bybit Beefs Up Asset Security Following $1.45B Hack"},"content":{"rendered":"<div>\n<p>Cryptocurrency exchange Bybit, which was hit by a $1.45 billion hack six weeks ago, has teamed up with Zodia Custody to beef up its security offering for institutional clients.<\/p>\n<p>Backed by a troupe of heavyweight traditional finance (TradFi) companies including Standard Chartered, Zodia offers segregated custody and off-venue settlement. <\/p>\n<p>This means users can trade on Bybit while their assets remain in Zodia&#8217;s custody, thus reducing exposure to on-exchange risks and preventing co-mingling of funds.<\/p>\n<p>The <a href=\"https:\/\/cms.coindesk.com\/studio\/content\/article;066ad476-ef5c-447b-a233-ded4ad0c0fc8%2Ctemplate%3Darticle%2CeyJsYW5ndWFnZSI6ImMxNjg1MmEyLWJlY2EtNDM5Yy05OTk4LTEwN2JlMWE3MjdmOSJ9\" target=\"_blank\">attack on Bybit in February<\/a> saw nearly $1.5 billion worth of digital assets stolen and was the largest hack of a crypto exchange in dollar terms ever. <\/p>\n<p>Such instances give a bloody nose to the prospects of increasing institutional adoption of digital assets, hence the requirement for custody services akin to what institutions would expect in the TradFi world.<\/p>\n<p>Zodia Custody CEO Julian Sawyer referred to its product as &#8220;custody and settlement built for institutions, not retrofitted for crypto,&#8221; in an emailed announcement on Thursday.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange Bybit, which was hit by a $1.45 billion hack six weeks ago, has teamed up with Zodia Custody to beef up its security offering for institutional clients. Backed by a troupe of heavyweight traditional finance (TradFi) companies including Standard Chartered, Zodia offers segregated custody and off-venue settlement. This means users can trade on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20395","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20395"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20395\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}