Bybit's theft is actually a verification of the exchange's commitment to 1:1 protection of user assets: 1. If Bybit does not allow withdrawals, it proves that the asset is not backed in a 1:1 ratio. Once withdrawals are reopened, most people will withdraw all their money, which will exacerbate the run on the bank. 2. If Bybit opens up withdrawals, there will be a withdrawal surge in the next two days, and there will be two situations a、 Assuming sufficient funds (1:1 reserve), after those willing to withdraw, if Bybit is not as fragile as imagined and the funding issue is properly resolved, some users will also return to Bybit b、 Assuming there is insufficient funding (not a 1:1 reserve ratio), forcing oneself to endure the withdrawal phase may ultimately result in being withdrawn to death The ultimate result of Bybit's behavior may be a verification of the 1:1 commitment of all CEX exchanges to fully cover their assets, that is, whether their promised user assets are absolutely safe and truly secure.