15億美元的bybit hack - 行業的響應方式

15億美元的bybit（加密歷史上最大的）黑客攻擊使整個行業持高度戒備。

The $1.5 billion hack of Bybit — the largest in crypto history — has put the entire industry on high alert. The attack, reportedly carried out by North Korea's Lazarus Group, resulted in the theft of over 401,000 ETH, reinforcing the reality that no exchange is safe from sophisticated cyber threats, and any platform can be at risk.

15億美元的bybit（加密歷史上最大的）黑客攻擊使整個行業持高度戒備。據報導，這次襲擊是由朝鮮的拉撒路集團（Lazarus Group）進行的，導致了超過401,000的ETH盜竊，這加強了一個現實，即沒有交流可以免受複雜的網絡威脅的安全，任何平台都可能面臨風險。

Bybit’s response is critical. The positive takeaway is that Bybit has re-established a 1:1 asset backing for its clients and closed the “ether gap.” However, this temporary situation — where users shoulder the burden of centralized exchange (CEX) security failures could drive staking participants towards self-custody, keeping only the minimum on exchanges for transactions.

拜比特的反應至關重要。積極的收穫是，Bybit為客戶重新建立了1：1的資產支持，並結束了“以太差距”。但是，這種臨時情況 - 用戶承擔著集中交流的負擔（CEX）安全失敗可能會使參與者朝著自我顧客發展，僅保留交易交易的最低限度。

While the full fallout of this breach is still unfolding, it may serve as a catalyst for both retail and institutional staking participants to rethink their strategies. Here’s how the hack could reshape staking.

儘管這種違規行為的全部影響仍在展開，但它可能是零售和機構飼養參與者重新考慮其策略的催化劑。這是駭客可以重塑靜止狀態的方式。

Potential Staking Losses

潛在的放入損失

The hack resulted in the theft of approximately 400,000 ETH, which is nearly $1 billion in losses at an average price of $2,600 per ETH.

該黑客盜竊案盜竊了大約40萬ETH，每ETH的平均價格為2,600美元，損失近10億美元。

Beyond the immediate financial hit, the Ethereum staking yield — which is currently around 4% annually — means a loss of roughly 16,000 ETH in yearly staking rewards.

除了立即受到財務打擊之外，以太坊的積分產量（目前每年約為4％）意味著每年的積分獎勵損失約16,000 ETH。

For instance, if we consider 100 stakers distributing the stolen ETH evenly, each would have lost 4,000 ETH initially and 160 ETH in rewards annually. This is a substantial loss, especially for retail investors who may not be able to handle such a large financial burden.

例如，如果我們考慮100個持久分發被盜的ETH，那麼每個人最初都會失去4,000個ETH，而每年都會損失160個ETH。這是巨大的損失，特別是對於可能無法承受如此巨大的財務負擔的散戶投資者而言。

Declining Staking Share on Centralized Exchanges

在集中式交流方面的分享下降

The Bybit hack may be a turning point for the crypto industry, highlighting the risks of staking on centralized platforms. The trend is already visible in recent data: in the last six months, the amount of staked ETH on centralized exchanges has dropped from 8,597,984 ETH in September 2024 to 8,024,288 ETH in February 2025, representing a 6.67% decline. This change comes amid growing concerns about security and transparency on centralized platforms.

Bybit Hack可能是加密行業的轉折點，強調了在集中式平台上佔有的風險。在最近的數據中，這一趨勢已經可以看到：在過去的六個月中，集中式交易所的固定ETH數量從2024年9月的8,597,984 ETH下降到2025年2月2月的8,024,288 ETH，佔6.67％的下降。由於對集中式平台上的安全性和透明度的擔憂越來越大，這種變化源於這種變化。

Additionally, following the hack from Feb. 20 to Feb. 23, staked ETH on CEXs fell by 0.56%, while on-chain staking (excluding CEXs) increased by 0.31%. This suggests a shift in the staking landscape, with users increasingly moving their assets away from centralized exchanges to more secure, non-custodial staking solutions or hardware wallets.

此外，在2月20日至2月23日的黑客攻擊之後，CEXS上的Staked ETH下降了0.56％，而鏈盤（不包括CEXS）增加了0.31％。這表明堆積景觀發生了變化，用戶越來越多地將其資產從集中式交易所轉移到更安全的，非固定的放入解決方案或硬件錢包。

This change could have long-term implications for the crypto market. Centralized exchanges, which have long dominated the staking ecosystem, may see their influence wane. As stakers migrate to decentralized alternatives, CEXs’ roles in governance, reward distribution, and network upgrades could diminish. In the long-term, this may result in the reshaping of the staking market, with decentralized alternatives taking center stage.

這種變化可能會對加密貨幣市場產生長期影響。長期以來一直統治了積分生態系統的集中交流可能會看到它們的影響力減弱。隨著Stakers遷移到分散的替代方案，CEXS在治理，獎勵分配和網絡升級中的作用可能會減少。從長遠來看，這可能會導致佔有市場的重塑，而分散的替代方案是中心舞台。

Institutional Adoption at Risk

有風險的機構採用

Hacks of this magnitude usually make institutional investors more cautious about entering the crypto market. When auditors evaluate staking products, including ETH ETFs, billion-dollar security breaches can prompt legal and compliance teams to hit the brakes on crypto allocations.

這種範圍的駭客通常會使機構投資者對進入加密貨幣市場更加謹慎。當審計師評估包括ETH ETF在內的Staging產品時，數十億美元的安全漏洞會促使法律和合規團隊對加密貨幣進行剎車。

This stagnation could push back the timeline for achieving new price highs and delay broader adoption.

這種停滯可能會推遲到達到新價格並延遲更廣泛採用的時間表。

Given the rising threat of hacks, it is crucial for both retail and institutional investors to embrace audited and certified self-custody solutions. Securing assets through non-custodial wallets and decentralized platforms can significantly mitigate the risks posed by centralized exchanges. At the same time, exchanges need to work to rebuild trust by enhancing their security measures, conducting regular audits, and offering insurance schemes for users affected by breaches.

鑑於駭客的威脅不斷上升​​，對零售和機構投資者來說，採用經過審核和認證的自我定位解決方案至關重要。通過非監測錢包和分散平台確保資產可以大大減輕集中交易所帶來的風險。同時，交流需要通過增強其安全措施，定期審核並為受違規影響的用戶提供保險計劃來重建信任。

Moreover, the entire crypto community — including developers, exchanges, regulators, and users — needs to come together to balance innovation with security. This collaboration is essential for the long-term viability of the industry. By strengthening the overall security infrastructure, we can create an environment where both retail and institutional participants can confidently engage with the crypto market.

此外，整個加密社區（包括開發人員，交流，監管機構和用戶）都需要團結起來，以平衡創新與安全性。這種合作對於行業的長期生存能力至關重要。通過加強整體安全基礎設施，我們可以創建一個環境，零售和機構參與者都可以自信地與加密貨幣市場互動。