March 5, 2025—DevvDigital™ is redefining blockchain security with DevvProtect, which includes an innovative and patented theft protection system that safeguards users against wallet-draining attacks. This marks the first time a blockchain platform has implemented validator-level theft protection while maintaining full user autonomy and decentralization.
This protection, combined with DevvExchange’s non-custodial structure, ensures that large-scale exchange hacks like last month’s $1.4 billion Bybit exploit would have been significantly mitigated—or outright prevented—on DevvExchange.
Crypto Theft: A Growing, Multi-Billion Dollar Problem
The Bybit hack is the largest in crypto history, but it follows a troubling pattern:
| Hack | Year | Amount Stolen |
| Mt. Gox | 2014 | $480 million (850,000 BTC) |
| Bitfinex | 2016 | $72 million |
| Poly Network | 2021 | $610 million |
| FTX (alleged) | 2022 | Hundreds of millions |
| WazirX | 2024 | 235 million |
| DMM | 2024 | 305 million |
| Bybit | 2025 | $1.4 billion |
Beyond large-scale hacks (as if that wasn’t enough), crypto users also have to contend with widespread fraud. In 2024 alone, $2.2 billion was stolen, largely through phishing scams and social engineering attacks targeting individuals. The entire crypto trading industry is at the mercy of significant loss with a single suspicious link.
Theft has become one of the most persistent threats to both institutional and retail investors. DevvExchange is actively solving this problem.
How DevvProtect Prevents Theft
The recent Bybit attack occurred during a routine transfer between ByBit’s cold and hot wallets. The hackers (widely suspected to be North Korean) managed to manipulate the user interface of a well established wallet provider, to disguise an exploit which unknowingly delegated access to a 3rd party under their control and transfer the funds to an unknown address, allowing attackers to drain the wallet instantly. While this could have been avoided by cross-referencing the meta-data on the cold wallet, it goes to show the knife’s edge of counterparty risk that billions in consumer funds are actively subjected to, including those most familiar with the mechanics of the industry.
DevvProtect removes the effectiveness of this attack vector by:
- Time-locked asset protection: Users can secure high-value assets behind customizable time locks, preventing instant drain attacks.
- Emergency stop mechanisms: If a wallet is compromised, users can immediately freeze assets before they are stolen.
- Immediate recourse options: Transactions can be prevented within the release window, blocking unauthorized withdrawals.
- No third-party reliance: Theft protection is enforced at the validator level, meaning users retain full control over their assets.
Further, and perhaps most importantly, DevvExchange works under a non-custodial model, so users’ assets are not held directly by the exchange, in contrast to all other Centralized Exchanges. With DevvExchange, users have individual protections for their own assets, but the main wallet where the ByBit hack occurred does not even exist within the DevvExchange architecture. Additionally, DevvExchange will provide an innovative lending structure to access assets early, in the case they are locked up through the theft protections, which gives an inexpensive means for the best of both worlds by providing both access and safety.
“With structured release schedules, emergency stop mechanisms, and validator-level protections, DevvProtect effectively prevents high-value thefts like the recent $1.4 billion Bybit hack from ever occurring,” said Ray Quintana, CEO of DevvDigital. “For the first time, both retail and institutional users can trade digital assets with confidence, knowing they have powerful tools to guard against theft.”
About DevvExchange
DevvExchange™ is the first instant-settlement, non-custodial digital asset exchange built to institutional standards. Operating on the DevvX™ blockchain, DevvExchange eliminates middlemen, reduces costs, and ensures mathematically guaranteed settlement at T+0 speed. With DevvProtect’s theft protection, DevvExchange is setting a new standard for digital asset security. Learn more at www.devv.exchange.
About DevvDigital
DevvDigital™ is the pioneering force behind DevvExchange™, committed to making digital asset trading more secure, transparent, and regulatory-compliant. As the exclusive operator of DevvExchange, DevvDigital is dedicated to eliminating theft risks and empowering both retail and institutional investors.
This press release contains forward-looking statements regarding the anticipated benefits and future operations of DevvExchange™ under the license agreement with Devvio. These statements are based on current expectations and assumptions and are subject to risks that may cause actual outcomes to differ. DevvDigital™ assumes no obligation to update or revise forward-looking statements except as required by law.
