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Bybit Hack Raises Concerns Over Institutional Crypto Staking Adoption

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#DeFi
Cointelegraph
505Words
Feb 27, 2025

Bybit's recent $1.4 billion hack by the Lazarus Group has raised concerns about institutional adoption of crypto staking, according to Everstake's COO, Bohdan Opryshko. The hack, the largest in the industry, has led to a decline in staked Ether on centralized exchanges, with investors moving to non-custodial solutions for better security. This incident may deter institutional investors from engaging in crypto staking due to heightened security risks. Despite this, Ether ETFs in Europe allow staking, and US regulators are considering similar permissions. The hack highlights the risks associated with staking, where stakers lock up Ether as collateral and face potential losses if validators misbehave.

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