Sygnum expanded its custody services amid market concerns following Bybit $1.4 billion exchange hack

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On March 5, Sygnum announced the expansion of Sygnum Protect, its off-exchange custody platform, to include Deribit, one of the world’s largest derivatives exchanges in crypto.

Traders received an unwelcome reminder of the dangers in keeping their assets on an exchange last month with the $1.4 billion hack of Bybit by North Korean Group Lazarus.