Brunosamz
@brunosamz
Bybit Hack: A Case Study on Why Decentralization Matters 🧵 The recent $1.4 billion Bybit hack is a harsh reminder of crypto’s risks—but it also highlights why decentralization is the future. Let’s break down the power of decentralization, financial freedom, and why everyone should embrace it. 👇 --- 1/ Transparency Without Borders Blockchain ensures that every transaction is public. Even though hackers remain anonymous, everyone can track the stolen funds using blockchain explorers like Etherscan. ❌ In TradFi, fraud happens behind closed doors. ✅ In DeFi, nothing is hidden. #DeFi #CryptoSecurity
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Brunosamz
@brunosamz
2/ No Single Point of Failure Bybit lost $1.4B because their centralized wallet was compromised. Decentralization eliminates this risk: ✅ Self-custody wallets (MetaMask, Ledger) put users in control. ✅ DeFi protocols allow trading without a central authority. ✅ Smart contracts automate transactions securely. #Web3 #Decentralization --- 3/ Censorship Resistance & User Freedom Imagine if Bybit froze user accounts after the hack—they have the power to do that. In DeFi: 🔹 No one can freeze your funds. 🔹 No bank or government can block your transactions. 🔹 You are your own bank. #Crypto #FinancialFreedom
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Brunosamz
@brunosamz
4/ Hacker Anonymity vs. Blockchain Traceability "If the blockchain is transparent, why can’t we catch hackers?" Here's why: Blockchain is pseudonymous—wallets don’t store personal info. Hackers use mixers (e.g., Tornado Cash) to cover their tracks. However, funds can still be traced when interacting with CEXs. #Bitcoin #Security --- 5/ Decentralization = A Fairer System The Bybit hack shows why we need decentralized solutions: ✔️ No single entity controls your funds. ✔️ You have full ownership of assets. ✔️ Security is distributed, reducing risks. DeFi > CeFi #CryptoSecurity #Blockchain
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