Ah, mesdames et messieurs! Gather ’round, for the grand spectacle of the cryptocurrency world unfolds before our very eyes! Major firms, like valiant knights, have rallied to defend the honor of Bybit after a most unfortunate security incident. 🎭
Our gallant CEO, Ben Zhou, has proclaimed that a multitude of industry leaders have banded together to track, contain, and minimize the impact of this dastardly exploit. One can only imagine the dramatic flair with which they wield their keyboards! 🖥️
A Huge Thank You to Our Partners and Community
After last night’s security incident, we’re incredibly grateful for the swift action and support from our partners, security teams, and the broader crypto community. Your dedication and collaboration helped us navigate the situation…
— Bybit (@Bybit_Official) February 22, 2025
In a most unexpected twist, both centralized and decentralized finance sectors have united, as if they were characters in a grand play! Key infrastructure providers have donned their armor, implementing immediate protective measures. ⚔️
Orbiter, deBridge, SynFutures, MYX, Thruster, and Owlto have swiftly blacklisted addresses linked to the exploit, while Chainalysis has donned the role of the detective, tracking and publishing the villain’s wallet addresses. 🕵️♂️
“This defining moment proves crypto’s strongest players stand together when it matters most.” A heartwarming sentiment, indeed! ❤️
Bybit has announced a major recovery bounty program, offering up to 10% of recovered funds following the cryptocurrency theft. A generous offer, if I may say! 💰
“Within 24 hours of the event, we were overwhelmed with support from some of the best people and organizations in the industry, and we do not take it for granted. We have shared in a dark moment of crypto history, and we’ve proven we are better than the malicious actors,” Zhou proclaimed, with the fervor of a true hero! 🦸♀️
He emphasized Bybit’s commitment to strengthening security and liquidity while fostering industry-wide collaboration. A noble quest, indeed!
So far, our on-chain investigator ZachXBT has identified North Korea’s Lazarus Group as the masterminds behind this hack. A plot twist worthy of the finest dramas! 🎬
The investigation revealed that hackers exploited Bybit’s Ethereum (ETH) multisig cold wallet during a routine transfer to the exchange’s warm wallet. A most cunning ruse! 🧙♂️
The attackers manipulated the signing interface, making it display the correct wallet address while altering the underlying smart contract logic. A true magician’s trick! 🎩✨
Lazarus Group is also linked to last year’s DMM Bitcoin Exchange Hack, where Japan-based DMM Bitcoin suffered a security breach resulting in the theft of approximately $305 million. A tale of woe! 😱
Last July, India’s WazirX exchange was compromised, leading to a loss of about $235 million. This incident was also linked to the Lazarus. Oh, the drama of it all! 🎭
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2025-02-23 16:01