The recent Bybit hack, resulting in the theft of over $1.4 billion in Ether, has sparked controversy. Safe's report faced criticism for lack of clarity.
Overview of Safe's Report
Safe's forensic report concluded that the attack was executed through a compromised developer machine, allowing attackers to submit a malicious transaction proposal. The report stated that the attack was not due to vulnerabilities in Safe's smart contracts or frontend services.
CZ's Criticism and Questions Answered
Changpeng Zhao criticized the report as lacking detail. He raised several critical questions, including how a developer's machine was compromised and whether transaction verifications were bypassed.
Independent Analysis and Bybit's Actions
Independent investigations by Sygnia and Verichains confirmed the attack was due to a malicious JavaScript injection. Despite the loss, Bybit quickly replenished user funds, borrowing 40,000 ETH from Bitget.
This incident highlights the vulnerabilities in crypto security, particularly in self-custody and multi-signature wallets. The industry must learn from this and implement stronger security measures.
