John Reed Stark has highlighted the U.S. Securities and Exchange Commission’s (SEC) decision to scale back crypto-related enforcement as a critical factor contributing to increasing security risks in the digital asset sector. His comments come in the wake of a hack targeting crypto exchange Bybit, where North Korean hackers allegedly stole $1.5 billion in customer funds.
The attack, which analysts describe as the largest crypto heist in history, has raised concerns about the lack of regulatory safeguards protecting investors.
US SEC Criticized as Bybit Hack Highlights Security Gaps
According to a recent post on X, Stark criticized the US SEC’s decision to roll back enforcement actions against cryptocurrency platforms. He pointed out that Bybit’s security breach is a direct consequence of weak regulatory oversight, leaving investors unprotected against sophisticated cyberattacks.
The attack on Bybit has been linked to North Korea’s Lazarus Group, a state-sponsored hacking col
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