Well now, gather ’round, folks! It seems our dear friend Changpeng Zhao, once the big cheese at Binance, has taken a mighty swing at Safe Wallet’s post-mortem on the Bybit debacle. He called it “not that great,” which is like saying a cat in a room full of rocking chairs is “a bit cautious.” 🐱
His remarks came hot on the heels of an audit report that claimed the breach was more about Safe’s infrastructure being as secure as a screen door on a submarine, rather than any mischief from the exchange itself. Talk about a twist in the tale! 📜
“This update from Safe is not that great. It uses vague language to brush over the issues. I have more questions than answers after reading it.”
He raised a ruckus about what “compromising a Safe {Wallet} developer machine” really meant. Was it a case of social engineering or just a nasty virus? And how in tarnation did that developer machine get access to an account run by Bybit? Did they just leave the door wide open? 🚪
He also wondered how the attackers managed to pull a fast one on Ledger verification. Were the signers just taking a nap? 💤
The Report and Updates
On February 26, Bybit released a forensic audit conducted by Sygnia and Verichains, which revealed that the Safe developer’s credentials had been compromised. This gave the rascals access to the wallet’s infrastructure, leading to signers being duped into approving a transaction that was as shady as a two-bit con artist. 🎩
The report detailed how the exploit was executed using “malicious JavaScript code” that had been sneakily injected into Safe’s Amazon Web Services system just two days prior. The script only sprang to life when transactions came from certain contract addresses, including Bybit’s multi-sig contract and another address that smelled fishy. 🐟
Just two minutes after the heist, the attackers vanished like a magician’s rabbit, leaving no trace behind. Forensic experts confirmed that Bybit’s infrastructure was as untouched as a Sunday picnic. 🍉
Since the hullabaloo, Bybit has borrowed 40,000 ETH from Bitget to satisfy withdrawal demands, which they’ve since paid back. They’ve also restored their reserves through loans, asset purchases, and whale deposits, securing a whopping 446,870 ETH valued at $1.23 billion. CEO Ben Zhou proudly declared that the exchange now has 100% backing for client assets. Well, isn’t that just peachy? 🍑
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2025-02-27 23:24