The $1.4 billion hack of crypto exchange Bybit has been hailed as the largest in history. And now, after the conclusion of two independent cybersecurity audits, itās clear that the attack vector had more to do with the companyās multi-sig wallet provider, Safe, than the exchange itself.
According to reports from Verichains and Sygnia Labs, North Korean hackers injected malicious JavaScript code directly into Safeās online infrastructure, which was hosted on Amazon Web Services. It is as of yet unclear how the hackers managed to infiltrate Safeās code.
In a statement shared with Decrypt, Bybit emphasized that initial forensics reports show the exchangeās infrastructure āwas not compromisedā by North Korean hackers. But the news has placed Safe on the defensive. In a statement posted to X on Wednesday, the company acknowledged Verichainsā and Sygniaās findings, saying the hack did stem from a ācompromised Safe Wallet developer machine.ā
We Now Know How Bybit Was Hacked for $1.4 Billion in Ethereum
Cybersecurity experts say that North Korean attackers exploited wallet provider Safe to perform the biggest crypto hack of all time on Bybit.
Bank of America Plans to Launch Stablecoin If Legislation Passes, Says CEO
Brian Moynihan said this week that a “Bank of America Coin” will launch if the United States passes stablecoin legislation.
Pump.fun X Account Hacked to Promote Fraudulent PUMP Solana Meme Coin
Solana meme coin launchpad Pump.fun had its social media account swiped Wednesday to promote an unofficial PUMP token that swiftly crashed.
SEC Acknowledges Grayscale's Revised Staking Proposal for its Ethereum ETF
The NYSE Arca filing details how the SEC could allow Grayscale's Ethereum funds to earn staking rewards while maintaining custody safeguards.
Crypto-Stealing Malware Spread Through Fake GitHub Repositories, Kaspersky Warns
The GitVenom campaign targets developersāand once downloaded, can be used to deceive victims into transferring crypto.
From our partner
Track. Reward. Grow.
With Absolute Labs Web3 CRM, you can engage and scale your community, manage KOLs and whales more effectively, and drive deeper brand connections in Web3.
I think it's been presumptuous for us to assume it was Bybit the first five days. I think it's presumptuous to flip 180 degrees and say it's Safeās fault on day six.ā
Equadyne is transforming decentralized finance with an intuitive portfolio management platform designed for all experience levels. By integrating AI-driven automation, no-code strategy building, and multi-chain connectivity, Equadyne simplifies DeFi investing.
With automated strategies, real-time analytics, and seamless portfolio tracking, users can optimize investments effortlessly. The upcoming $EQN pre-sale will power the platform, offering benefits like staking rewards, advanced features, reduced fees, and governance participation.
Discover how Equadyne is redefining DeFiālearn more about the pre-sale at Equadyne.finance and join the discussion on Telegram!
šļø SCENE: Million-Dollar Dolce & Gabbana Digital Suit Fractionalized on Ethereum L2 BaseāHereās Why
Fermion Protocol wants to fractionalize luxury goods. Itās starting with a million-dollar digital suit from Dolce & Gabbana.
š Watch and Learn
š¹ļø WATCH: UNDER EXPOSED EP14 – Crypto Market Turmoil: Black Tuesday Unfolds
UNDER EXPOSED brings you coverage of the biggest macro news of the week impacting crypto and broader markets, with a focus on the newest trends, trades and narratives. On this episode, the hosts look at the destruction left in the wake of Black Tuesday market turmoil.
šļø LEARN: What Is Chainlink? A Beginnerās Guide to the Decentralized Oracle Network
Chainlink connects blockchains to real-world data, enabling smart contracts to function securely and accurately.
