Changpeng Zhao (CZ), former CEO of Binance, criticized Safe Wallet’s post-mortem on the Bybit hack, deeming it vague and unsatisfactory. The hack, which exploited compromised Safe Wallet developer credentials, resulted in nearly $1.5 billion in losses, but forensic investigations confirmed that Bybit’s infrastructure remained secure. Following the incident, Bybit secured its client assets and restored reserves through loans and deposits.
about CZ Critiques Safe Wallet's Response to Bybit Hack InvestigationSafehold Inc.
0 in Finance and 0 in Crypto last weekSafe Wallet Breach Linked to North Korean Lazarus Group Theft of 40000 ETH
Safe Wallet confirmed a breach linked to a $1.5 billion hack of Bybit, attributed to the North Korean Lazarus Group, which stole 40,000 ETH. Despite the attack compromising the frontend, Safe Wallet claims its smart contracts remain secure, though it faces criticism for a vague response and lack of transparency. The FBI is actively tracking the stolen assets to prevent further laundering.
about Safe Wallet Breach Linked to North Korean Lazarus Group Theft of 40000 ETHFBI Links North Korea to Record 1.5 Billion Bybit Crypto Heist
The FBI has identified North Korea as the perpetrator behind the $1.5 billion Bybit crypto heist, labeling the operation “TraderTraitor.” The Lazarus Group executed the attack by compromising a Safe developer’s credentials, allowing unauthorized access to execute a malicious transaction. Authorities are urging the private sector to block transactions linked to the identified addresses associated with the stolen assets.
about FBI Links North Korea to Record 1.5 Billion Bybit Crypto HeistTron Enhances USDT Security with Multi-Sig Storage Amid Rising Trading Volume
Justin Sun has urged investors to utilize Tron’s multi-signature storage for USDT, enhancing security and reducing risks compared to Ethereum. Following his endorsement, USDT-TRON trading volume surged by 12%, with transactions reaching 1.7 million on the announcement day, reflecting growing confidence in Tron’s secure infrastructure. The network’s built-in multi-sig capabilities are seen as a safer alternative, attracting institutional interest and larger asset transfers.
about Tron Enhances USDT Security with Multi-Sig Storage Amid Rising Trading Volume