Bybit identifies 16 blockchains capable of freezing user assets.

Bybit's Findings: Bybit's Lazarus Security Lab identified 16 blockchain networks capable of freezing or restricting user funds, with mechanisms including hardcoded freezing, configuration file-based freezing, and onchain smart contract-based freezing.

Potential for Freezing Mechanisms: The report highlights that 19 additional networks, particularly within the Cosmos ecosystem, could implement fund freezing capabilities with minor protocol changes, raising concerns about censorship and centralized control.

Security Concerns: The presence of these freezing mechanisms, while intended to prevent theft, contributes to the ongoing debate about the true decentralization of blockchain networks as they integrate emergency controls and admin-level privileges.

Context of Findings: This report follows a significant security incident where Bybit experienced a $1.5 billion cold wallet hack, prompting discussions on the balance between security measures and decentralization in the crypto space.