The cryptocurrency community is in debate over the cause of Bybit's $1.4 billion hack, with Bitcoin advocate Adam Back attributing it to the 'mis-design' of the Ethereum Virtual Machine (EVM). Back criticized the EVM's complexity, describing it as 'fragile' and 'unsecurable,' and he emphasized that the hack wasn't related to hardware wallet security but rather the intricacies involved in verifying transactions on the EVM. He highlighted operational security failures amid the complexities of the EVM as a larger issue. Conversely, cybersecurity experts like Dima Budorin and Lex Fisun contended that the vulnerabilities highlighted by the Bybit incident are not exclusive to Ethereum. They stressed that similar risks exist across blockchain ecosystems, including Bitcoin. Fisun noted that Bybit's breach could stem from operational weaknesses rather than faults in the EVM itself, pointing out that it involved a multisig wallet. The ongoing debate reflects deeper concerns regarding security practices within the cryptocurrency industry, while Ethereum co-founder Vitalik Buterin has not commented on these accusations.

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