How the Safe Client Led to Bybit's $1.5 Billion Hack

user avatar

by Giorgi Kostiuk

2 years ago

The recent $1.5 billion hack on Bybit revealed important lessons for the crypto world. This article explores how the attackers used the Safe Client to compromise systems.

Preliminary Conclusions About Safe App Compromise

Official reports revealed that a benign JavaScript file in the Safe app was replaced with malicious code on February 19 at 15:29:25 UTC. The attack specifically targeted Bybit’s Ethereum multisig wallet. The compromise occurred via a Safe developer machine, with a leaked account or API key.

The attack was directed at Bybit but could have affected any exchange or entity.None

Safe Official Statement

In its statement, Safe revealed that the attack was conducted by the Lazarus Group and affected a Bybit machine account, though Safe smart contracts remained unaffected. Additional security measures have been implemented to eliminate the attack vector. External security checks did not reveal vulnerabilities in Safe smart contracts or frontend source code.

Lazarus is a state-sponsored North Korean hacker group known for sophisticated social engineering attacks.None

Official FBI Report

The FBI reports that stolen assets were converted into BTC and other cryptocurrencies, likely to be laundered and turned into fiat via numerous addresses on various blockchains. Recommendations included blocking transactions with addresses connected to activity known as TraderTraitor by the FBI.

The attack has revealed numerous vulnerabilities in secure applications within the crypto space. Users and companies must remain vigilant and cautious about their systems’ security.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Nvidia Introduces OpenShell Reference Architecture for AI Agents

Nvidia has introduced the OpenShell Reference Architecture, a design for managing autonomous AI agents, at GTC Berlin.

user avatarNguyen Van Long

OpenAI Announces $1 Billion Commitment to Cybersecurity

OpenAI announced a $1 billion commitment to enhance cybersecurity measures through its AI program, Daybreak, aimed at providing subsidized access to advanced AI tools for defenders of critical infrastructure.

user avatarSatoshi Nakamura

Elon Musk Proposes Merger of SpaceX and Tesla

Elon Musk announced that SpaceX and Tesla have formed special committees to explore a merger that could create a corporation valued at approximately $35 trillion.

user avatarJesper Sørensen

Standard Chartered to Acquire Zodia Custody

Standard Chartered has signed definitive agreements to acquire Zodia Custody Limited, enhancing its digital asset safekeeping services.

user avatarRajesh Kumar

Critical PHP Vulnerability Leads to Global Website Shutdowns

A critical vulnerability in PHP has caused panic worldwide, leading several countries to take down government websites and urging organizations to shut down their PHP-based sites.

user avatarLucas Weissmann

Probly Showcases Innovative Prediction Market Solutions at TOKEN2049

During TOKEN2049, Probly showcased its innovative approach to prediction markets, emphasizing accessibility, broad market coverage, and onchain settlement.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.