💎Bybit executives resign after the Notcoin incident

Following the incident involving Notcoin deposit delay, several key figures from Bybit, the third-largest offshore exchange, "voluntarily resigned." According to an internal memo addressed to all employees, Bybit is now seeking new technical specialists and spot trading managers.

The Notcoin incident affected 320,000 users, and Bybit had to compensate $23 million. Due to technical and communication issues, Bybit users received their Notcoin tokens late, could not sell them right away, causing significant inconvenience and financial losses.

The Bybit team worked tirelessly to resolve the balance display issue after the Notcoin airdrop to Bybit, which has caused delays. While Bybit's wallet struggled to process around 370,000 Notcoin transactions, it delayed updating user balances. So the balances had to be manually credited to provide access to Notcoin before the market opened.

Bybit created a compensation plan and credited all 320,000 affected users, expressing deep regret for the issues encountered and assuring that a thorough internal investigation is being conducted to prevent similar incidents in the future.

Notcoin has stirred quite a few CEXs, apps, and even Telegram chatrooms, both inside and outside its ecosystem. And to think that this is just one such project in the TON ecosystem, imagine what will happen next! 😨

Source
Your recruiter @TonPost