A comprehensive blockchain security assessment conducted by Bybit’s Lazarus Security Lab has identified significant centralization risks across multiple networks. The detailed examination of 166 blockchain protocols uncovered 16 distinct networks maintaining technical capabilities to freeze or restrict user-held digital assets. This discovery challenges fundamental decentralization principles that underpin blockchain technology’s core value proposition.
The research methodology involved systematic technical analysis of network architectures, consensus mechanisms, and governance protocols. The findings highlight potential vulnerabilities in systems where centralized control points persist despite distributed ledger claims. Industry observers note that such capabilities, while sometimes implemented for regulatory compliance or security purposes, create fundamental contradictions with blockchain’s purported trustless nature.
This revelation comes amid growing institutional adoption of blockchain technology, where transparency and immutability remain key selling points. The identified networks now face increased scrutiny regarding their true decentralization status and the practical implications of these administrative controls. Market participants are advised to conduct thorough due diligence when evaluating blockchain platforms, particularly focusing on governance models and technical architecture that may enable unexpected intervention in asset management.
