9 months ago, Bybit suffered the largest-ever crypto heist, as hackers stole ~$1.5 billion in Ethereum (~401,000 ETH) during a routine ETH transfer.
Since then, the team @safe has completely overhauled its infrastructure and systems. Safe CEO @rahulrumalla spoke candidly about the incident and learnings on our latest Chain Reaction show for @Cointelegraph.
We now know that attackers (likely Lazarus Group) compromised a Safe{Wallet} developer machine, injecting malicious JavaScript into the UI, which tricked Bybit's multi-sig process into approving a malicious smart contract.
The incident was a wake-up call for the entire cryptocurrency industry. This is a must-watch segment unpacking how Safe and wallet infrastructure providers are levelling-up to deal with the constantly evolving threats from hackers.
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