ZachXBT: Crypto industry failing to stop hacks and money laundering

Blockchain security expert ZachXBT criticized via Telegram the crypto industry’s weak response to hacks, calling it "unbelievably cooked" after assisting with the Bybit Exchange hack investigation. He warned that without strict government regulations, security issues will persist. He also pointed out that some decentralized protocols rely heavily on North Korean laundering, centralized exchanges are slow to react, and existing KYC/KYT measures are easily bypassed.