The February incident this year was the painful wake-up call for Bybit to completely rethink its approach to security. Instead of spot fixes, the exchange's management decided to conduct a large-scale reconstruction of the entire security infrastructure. The result was a new three-tier security system, which, according to the company, should make a repeat of such a scenario impossible.

The exchange conducted nine security checks over the course of a month, not only by its own specialists, but also with the involvement of independent experts. The result? Fifty new security measures, a three-stage system update, and ISO/IEC 27001 certification. Now it’s not just a crypto platform, but a real digital citadel.

Particular attention was paid to working with cold wallets. Now all actions with them are under close control: automatic monitoring systems, round-the-clock surveillance by security specialists, and a multi-level transaction confirmation system. Add to this the latest hardware security modules and multi-party computing technology - and you get a system that really looks more like a fortress than an ordinary crypto exchange.

Experts note that Bybit has actually created a new security standard for crypto exchanges. In a world where hacks of crypto exchanges have become almost routine, this approach may turn out to be the very competitive advantage that will outweigh even the memory of past failures. Bybit management is obviously counting on this, investing in security amounts comparable to the budgets of small countries for cybersecurity.