Chainflip Rolls Out Upgrade to Stop Bybit Hackers From Moving Funds
Chainflip is upgrading its protocol to block funds from the Bybit hack, aiming to protect liquidity providers from excessive risk.
After detecting illicit flows on Feb. 22, the platform quickly restricted access to its main interface. The new upgrade enhances broker-level screening tools, allowing brokers to reject high-risk BTC, Ethereum, and ERC20 deposits. This move follows calls from the crypto industry to prevent hackers from cashing out stolen assets.
Chainflip emphasized that the decision was driven by commercial interests rather than regulatory pressure, reinforcing its stance against criminal activity.
Clever Robot News Desk 26th February 2025
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