More about the Bybit hack issue.

[Orpichukwu]

It is not advisable for anyone to save their coins on exchanges, the exchange might just go bankrupt or becomes insolvent which will result to your funds if you are careful, by why its always an better option to storing your coins in an hardware wallet now adays I don't trust any exchange because I have heard a storyline where an exchange employee had access to your account and given it to some attackers for hack so in others words exchange can't be convenient to store up your coins have a rethink over it...

Exchanges are not as bad as you are describing them. If you don't have money to buy a hardware wallet, a mobile or desktop open-source cold wallet can still be a good one as long as you can keep it safe. The thing about exchange employees is that they have access to your account; they can see your balance, but only a few have the right access to authorise withdrawals from any account. If not, there could have been more complaints of customers losing their funds than anything else.

[Josefjix]

...

—in addition to any other security measures a user puts in place like 2FA.

Yeah, including 2FA is another way of adding an extra layer of security to our wallet but it doesn't come without it's own downsides which a user has to be careful about how complex their 2FA could be, not to be locked out on account of forgetting your password due to it complexity.

If your 2fa setup is not available on your bybit account, that's nothing complex about it restoration, you just need to click forget 2fa, input phone number to disable old 2fa.
The major challenges you could get from this is that, withdrawals will commence after 24hrs of setting up new 2fa. It's nothing much complicated, it's more easier.

[Ndabagi01]

Even as Bybit done talk like this make we still they very careful, make no body they hold in crypto coin for Bybit for long time for now, since Bybit na one place way p2p they available if you transfer your coin go there just trade am immediately, because e still dey possible say this hack way happen like this fit still happen again so make everybody they careful.

We no pray for such to happen again and this wey don happen go be lessons to the exchange itself to take strength their security and e go still be lesson to many of us wey dey use the exchange very well. Bybit exchange as the name imply na where I dey do exchange of my money to naira and after that, I don’t think I’m using it for any other thing again. Money wey enter there no dey last 24hours there, so I fit talk say I dey on a safer end even as I dey use the exchange frequently.

No be the first time wey hack dey happen be this, e don happen in the past and even as this one happen now, e no mean say e no fit happen again. E fit no be this exchange, e fit be another one wey person dey use too, but it’s better to be on a safer side than to be sorry. The one wey go come worse pass this one no go tell when e go come but we no pray for such to happen, but make we still dey careful and be off guard, them no dey announce their coming, e just dey happen neh within few minutes if not less than that sef.