The recent attack on Bybit led to the theft of over $1.4 billion in Ether, sparking significant debate in the crypto community.
Incident Overview
The attack, orchestrated by the alleged North Korean hacking group Lazarus, involved compromising a Safe developer's machine and injecting malicious JavaScript code into SafeWallet's Amazon Web Services infrastructure. This resulted in a fraudulent transaction that drained funds from Bybit's wallet.
CZ's Criticism and Safe's Response
Former Binance CEO Changpeng Zhao (CZ) criticized the Safe report, calling it vague and incomplete. He questioned the methods of compromise and raised several security concerns. Safe co-founder Martin Köppelmann clarified that the attack targeted the interface and not the Safe code, and proposed improvements to prevent future hacks.
Bybit's Reaction and Consequences
Despite the massive loss, Bybit replenished user funds and continued operations, borrowing 40,000 ETH from Bitget. This incident became one of the largest crypto hacks in history, highlighting the ongoing security challenges in self-custody and multi-signature wallets.
The incident underscores the need for stronger security measures in the crypto industry, especially in self-custody and multi-signature wallets.
