The cryptocurrency community is polarized over the Bybit hack's cause, with Bitcoin advocate Adam Back blaming the Ethereum Virtual Machine (EVM) for its ‘mis-design’. Following Bybit's $1.4 billion incident, Back asserted that critiques of repeated EVM hacks are missing the deeper issue: the EVM's inherent complexity and fragility. He emphasized that the security of hardware wallets was not the issue but rather the challenges in verifying transactions via the EVM. Despite Back's stance, several experts from cybersecurity firms, including Hacken and Global Ledger, disagreed, suggesting the breach stemmed from operational security failures rather than fundamental flaws in the EVM itself. They noted that while EVM-related vulnerabilities exist, risks like human error and advanced phishing tactics are also shared challenges across different blockchain ecosystems, including Bitcoin. Debate continues, notably as Ethereum co-founder Vitalik Buterin has not publicly addressed these security concerns.

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