We Now Know How Bybit Was Hacked for $1.4 Billion in Ethereum
Referenced by
Multiple independent audits have now pointed the finger at the cause of last week’s historic $1.4 billion Bybit hack—billed as the largest crypto hack of all time based on the value of the assets—and it wasn’t the crypto exchange at fault.
Crypto news
Quote
Rather, analysts at Verichains and Sygnia Labs, two top cybersecurity firms, have determined that North Korean hackers managed to pull off the biggest hack in history by planting malicious code into the infrastructure of Safe—a crypto wallet provider used by Bybit, and one that has long marketed itself as impenetrable.
Crypto news
Quote
As for Safe itself—it’s been a rough day for public relations so far. In a statement posted to X on Wednesday, the company acknowledged Verichains’ and Sygnia’s findings, saying the hack did stem from a “compromised Safe Wallet developer machine.”
Crypto news
Quote