The case for enterprise-grade custody solutions

Opinion by: Vikash Singh, Principal Investor at Stillmark

The Bybit hack resulted in the largest loss of funds to cyber hackers by a cryptocurrency exchange in history. It served as a wake-up call for those complacent about the state of security threats in the digital assets space. Everyone must learn the lesson from this heist — enterprise-grade custody solutions require tech to be accompanied by transparency.

Unlike many previous incidents, this loss of funds was not due to a faulty smart contract, lost/mismanaged keys or deliberate mismanagement…