Chapter 6: Bybit – The largest hack in history

This chapter tells the story of the largest hack in history. Drawing on insider perspectives from within the security community, it traces black hats, white hats, and many shades of grey in action, revealing how incident response is coordinated across the ecosystem, when it succeeds in protecting the interests of end-users, and when it fails due to selfish ambition. The chapter underscores the enduring reality that insecurity is a permanent condition. It also reveals the emergent infrastructure, norms, controls, and feedback loops that scaffold how decentralised communities collectively respond to insecurity.