Bybit Report Highlights Fund-Freezing Capabilities of Major Blockchains
- 16 major blockchains can freeze or restrict user funds, with another 19 potentially able to implement similar features.
- The report identifies three freezing methods, including hardcoded freezing used by BNB Chain and setting-based freezing observed on Sui and Aptos.
- In May, the Sui network froze $162 million following a $223 million hack on the Cetus exchange.
- Aptos introduced a tool to filter blacklisted transactions after the Cetus incident, enhancing its security measures.
- The report emphasizes the need for transparency in blockchain freezing powers for user trust.
As security threats grow in the DeFi sector, highlighted by a recent $129 million hack involving Balancer, understanding these fund-freezing capabilities is crucial for users and developers alike.
The ability of networks like BNB Chain and Sui to freeze funds has been demonstrated through real-world incidents, underscoring their importance in protecting assets during breaches. (Source)
