Bybit’s forensic review concluded that the exchange had no security vulnerabilities and that the hack originated from Safe wallet’s breach

  • Claim

Name

Bybit’s forensic review concluded that the exchange had no security vulnerabilities and that the hack originated from Safe wallet’s breach

Types

Claim

Quotes that support claims

Bybit released a forensic review, revealing that the exchange had no security vulnerabilities and that the attack stemmed solely from Safe wallet's breach.
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.
ByBit, the second largest centralized exchange (CEX) in the world, released third-party audits today, which identified multi-signature security protocol Safe’s Safe{Wallet} arm as the point-of-failure in last week’s record-breaking $1.5 billion hack.
A forensic review conducted by Sygnia and Verichains revealed on Feb. 26 that “the credentials of a Safe developer were compromised [...] which allowed the attacker to gain unauthorized access to the Safe(Wallet) infrastructure and totally deceive signers into approving a malicious transaction.”

Referenced by

Summary

Crypto news

Data block