Bybit Hack Highlights Need For A Solution Like Best Wallet

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The Best Wallet ($BEST) ICO has surged to within a whisker of $11 million, with total funding now at $10.93 million.

Its native token, $BEST, is currently priced at $0.0243 per token for the next 30 hours before the price increases, giving investors a limited window to secure tokens at a lower rate.

Once Best Wallet hits the $11 million milestone, people familiar with the project speculate that fundraising efforts could soon wrap up.

The Bybit fiasco last month underscored the need for self-custody solutions, and Best Wallet is emerging as a leader in this space – not just for its enhanced security but also for its advanced capabilities compared to existing alternatives.

Holding $BEST isn’t just a stake in this solution; it’s also a stake in Best Wallet’s expanding ecosystem, designed to be a one-stop shop for all things crypto finance.

Bybit Hack Shows The Need For Crypto Self-Custody Solutions Like Best Wallet

The Dubai-based exchange Bybit suffered a hack on February 21 that drained its ETH cold wallet of approximately 400,000 ETH (valued at $1.5 billion), reportedly carried out by North Korea’s Lazarus Group.

The hacker group likely infiltrated Bybit’s wallet infrastructure by exploiting weaknesses in its multi-signature wallet setup. These setups are designed to improve security by requiring multiple transaction approvals, but the hackers found a way to bypass this safeguard.

In response, Bybit’s CEO, Ben Zhou, activated a crisis plan and secured emergency funding from other crypto firms to replenish reserves and meet withdrawal requests.

Despite these efforts, the hack has tarnished Bybit’s reputation and cast doubt on the broader credibility of centralized exchanges (CEXs). This is already evident in the declining staking share on CEXs, with ETH staked on these platforms dropping from 8,597,984 ETH in September 2024 to 8,024,288 ETH in February 2025.

The incident underscores the risks of centralized exchanges relying on third-party security providers, emphasizing the need for enhanced security measures in the crypto industry, such as self-custody solutions in which users maintain full control over their private keys.

Best Wallet is the current leader of new-generation wallets. It perfectly combines robust security with a user-friendly interface that even beginners who know nothing about the differences between Bitcoin and Ethereum can easily use.

Best Wallet: A Step Up From A Secure, Non-Custodial Crypto Wallet

Best Wallet emerged in the crypto wallet scene less than a year ago and has already attracted over 500,000 users, with over 250,000 actively using the app – growing at an unmatched 50% month-on-month rate.

A major driver of this growth is Best Wallet’s advanced capabilities, including smoother and cheaper transaction processing compared to rivals like MetaMask and Trust Wallet. Best Wallet’s efficiency gains are achieved through integrations with over 200 decentralized protocols and 20 cross-chain bridges.

Best Wallet also excels in on-ramping, allowing users to seamlessly exchange over 100 fiat currencies to crypto at some of the lowest exchange rates and processing fees available. Its DeFi staking aggregator, powered by $BEST tokens, also offers users access to higher staking rewards.

A standout feature is Best Wallet’s project screener, Upcoming Tokens, which has accurately identified profitable projects such as Pepe Unchained ($PEPU) and Catslap ($SLAP), which surged by over 700% and 7,000%, respectively.

Even in a down market, the Upcoming Tokens feature continues to highlight promising projects, including BTC Bull Token ($BTCBULL) – which offers passive BTC earnings – and Solaxy ($SOLX), the first Layer-2 chain on Solana.

Best Wallet Might Make CEXs Obsolete – Just As CZ Advocates

Best Wallet is rapidly expanding its ecosystem, offering more than just a secure and advanced crypto wallet. Its integrated DEX allows investors to trade directly within the app, eliminating the need for separate protocols or wallets to manage crypto positions.

This streamlined approach reduces reliance on centralized exchanges (CEXs), especially since Best Wallet, as mentioned, also supports direct on-ramping and off-ramping, combining multiple features in one platform.

Best Crypto Wallet: Anonymous Bitcoin Wallet | No ID or KYC

Former Binance chief CZ has advocated for this shift, emphasizing that CEXs should cater to professional traders, while everyday transactions are better suited for crypto wallets like Best Wallet.

To further enhance its utility, Best Wallet is preparing to launch Best Card, which will enable users to make real-world transactions using cryptocurrencies. This feature will likely leverage partnerships with payment processors like MoonPay and Alchemy Pay, bridging the gap between digital assets and everyday spending.

Here’s How To Buy $BEST Tokens

Access to Best Wallet’s features is powered by the $BEST token, which can be purchased at a discount via the Best Wallet presale website.

To buy $BEST, connect your wallet and use the site’s user-friendly widget. Alternatively, Best Wallet users can purchase the token directly in the app using a bank card or swapping cryptocurrencies like ETH or USDT.

Best Wallet supports easy import and consolidation of funds for those with assets in other wallets. It also offers multichain support – recently expanding beyond Ethereum to include Bitcoin, with Solana integration coming soon.

New users can download the app on Google Play or the Apple App Store.

Join the conversation in Best Wallet’s community on X, Telegram, and Discord.

Visit Best Wallet.

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