Bybit News: Recent Hack Highlights Vulnerabilities in Crypto Transparency

A recent high-profile hack has brought the issue of crypto transparency to the forefront, prompting a reevaluation of the security implications associated with public wallets.

The Death of Public Wallets: Why Crypto Needs Privacy

For years, crypto wallets have been transparent, showing every transaction and balance on an open ledger. However, many now see this transparency as a weakness, with institutions preferring indirect or regulated exposure to crypto due to apprehensions about exposing their every move. The recent Bybit hack, which cost the platform $1.5 billion, highlights the danger of this hyper-transparency, as hackers can track high-value accounts and launch precise attacks. In an ecosystem aiming to replace or rival TradFi, the inability to conduct business confidentially is a serious liability.

Bybit Named Exclusive Payment Partner for Tomorrowland Brasil 2025-26, Launches Cardholder Presale

The world’s second-largest crypto exchange by trading volume, Bybit, has partnered with Tomorrowland Brasil, the annual electronic dance music festival, to become the exclusive payment provider for the event in 2025 and 2026. As a result, Bybit Card holders will gain early access to tickets before they become available to the general public. This is the first time in Tomorrowland history that such privileged early access has been granted. The event is scheduled to be held from October 10 to 12 at Parque Maeda in Itu, São Paulo, with ’LIFE’ as the mainstage theme.