According to PANews on February 25, Chainflip officially announced that after discussions with the team, community, liquidity providers, major interfaces using Chainflip, and most validator providers, it decided to prevent the illegal flow of Bybit hacker funds within the protocol through protocol upgrades.
Chainflip said that most of the code has been written and needs to be tested and deployed to the network. The upgraded version is expected to be launched within 24-72 hours.
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Bybit suffered a security incident, and funds worth $1.44 billion were withdrawn. A North Korean hacker group was accused of being the perpetrator.
