Ah, the grand tale of Safe Wallet, a valiant provider of Ethereum multisig wallets, who, after a tempestuous night of chaos, has vowed to rise from the ashes like a phoenix—albeit a slightly singed one. In a mere 24 hours, they promise to restore their services, armed with shiny new security measures to thwart the dastardly villains of the cyber realm. 🦸♂️
What calamity befell them, you ask? A nefarious hack at Bybit, where a staggering $1.4 billion was spirited away through the dark arts of masked URLs and cunning contract logic manipulation. It was a heist worthy of the most audacious of thieves, targeting the cold wallet of the exchange with the finesse of a cat burglar. 🐱👤
Phased rollout within the next 24 hours
The Safe{Wallet} team, like a band of determined knights, is toiling away to restore their services. They will embark on a phased rollout, introducing an additional layer of security measures that would make even the most hardened hacker think twice:
• Additional validations for…
— Safe.eth (@safe) February 23, 2025
On the fateful day of February 24, the brave souls at Safe took to the digital skies, outlining their step-by-step deployment plan, complete with extra security protocols. They have concocted three enhancements, like a witch brewing a potion, through improved protocols, enhanced monitoring alerts, and stricter validation checks. 🧙♀️
But heed this warning, dear users! Verify your transaction data before execution, for the performance updates may cause minor delays—like waiting for a bus that never comes. The front end of Safe remains as fortified as a castle, while the company has decided to suspend native Ledger integration, along with other features, as a precautionary measure. 🏰
It was the compromised Ledger signing method during the Bybit attack that forced Safe to scrutinize its security measures with the intensity of a hawk eyeing its prey. In a show of unity, multiple major blockchain organizations banded together to trace and freeze the stolen assets, like a group of superheroes on a mission. 🦸♀️
Bybit, in collaboration with Tether and a motley crew of other companies—THORChain, ChangeNOW, FixedFloat, Avalanche, CoinEx, and Bitget—managed to freeze a whopping $42.89 million in stolen funds. They tracked down blacklisted addresses with the precision of a bloodhound on a scent. 🐕
To sweeten the pot, Bybit established a 10% bounty worth $140 million to entice security experts and ethical hackers to join the fray and retrieve the stolen funds. A veritable treasure hunt! 🏴☠️
And lo! The exchange has reinstated full deposit and withdrawal capabilities, confirming the restoration of operations through the sacred on-chain data. A happy ending, or merely the calm before the next storm? Only time will tell! ⏳
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2025-02-24 09:25