Bybit's Recent Announcement
There are tons of FUDs in the crypto market that are mixed with concerns about the macro economy and unstable stock market.
The FUDs are reinforced or started from the Bybit hacking incident.
Before the Bybit hack, many ETH or EVM enthusiasts (or those who bought ETH before) attacked Solana, mentioning the LIBRA coin accident.
Even though the accident is not totally related to Solana chain's capability, security or its potential for growth, they just tried to attack Solana. The case is under investigation and soon authorities may find some real facts as many crypto traders want.
Some of the victims of the LIBRA coin pump and dump are ETH maxis who recently have gained some profit trading Solana meme coins.
But from the LIBRA coin, they lost much of their assets, so were angry and attacked all crypto and Solana founders in all directions with tough words.
After the Bybit hack, ETH maximalists do not say any comment about the ETH chain itself and started to blame Solana founders or any other Solana protocol leaders with several reasons even though many Solana leaders have tried to support Bybit to recover from the accident.
All these dirty and insane actions by KOLs or influencers have been backed by CEXs, especially by Binance. As you already know or should know, Binance and many CEXs have their own social network army to fight for them or attack any chain or crypto users/founders following Binance's orders.
Bybit and Binance are all in Chinese funds gangs who support each other, dumping at high levels and buying at lower prices, maximizing their profits through derivatives utilization.
The Bybit Ethereum hacking incident may not be due to an Ethereum security issue.
The root cause of the incident is the poor operation of cold wallets that are managed by Safe Proxy smart contracts. Bybit and Ethereum relevant protocols may have a poor level of security awareness.
I think Ethereum may have this similar issue more and more in the future as Ethereum development has been stagnated without enough passionate developers or investors. Most Ethereum guys just focus on its price and the progress of competitive chains' development, blaming them.
All this market sentiment is driven by CEXs and market makers. Most of you are just money providers. Focus on real development and evolution. Through this downturn, CEXs and many whales will choose another line.
And US and each country's authorities will get into the core issue of the crypto sector deeply and we can see a clearer picture of recent market manipulation sooner or later.