BREAKING 💥 Crypto exchange Bybit confirms hack as over $1.4 billion worth of ETH leaves wallets
Bybit, the Singapore-based centralized crypto exchange, appears to have been hacked. Early estimates suggest the exchange has lost over $1 billion worth of ETH and significant quantities of other tokens, though the investigation is ongoing.
"Bybit ETH multisig cold wallet just made a transfer to our warm wallet about 1 hr ago. It appears that this specific transaction was musked, all the signers saw the musked UI which showed the correct address and the URL was from Safe. However the signing message was to change the smart contract logic of our ETH cold wallet,"
Bybit co-founder and CEO Ben Zhou posted to X. "This resulted Hacker took control of the specific ETH cold wallet we signed and transferred all ETH in the cold wallet to this unidentified address. Please rest assured that all other cold wallets are secure. All withdraws are NORMAL."
On Tuesday, the exchange announced it would be performing scheduled maintenance on its live server today stretching into tomorrow, which caused controversy as security researchers looked into the suspicious transactions.
The attacker then moved the majority of the funds to a second address, 0xa4b2, which swaps funds using decentralized exchanges, including Uniswap, Paraswap, and KyberSwap.
ByBit says its other hot and cold wallets are unaffected, and only their ETH wallets were impacted. "Bybit is Solvent even if this hack loss is not recovered, all of client assets are 1 to 1 backed, we can cover the loss," Zhou also post
Bybit, the Singapore-based centralized crypto exchange, appears to have been hacked. Early estimates suggest the exchange has lost over $1 billion worth of ETH and significant quantities of other tokens, though the investigation is ongoing.
"Bybit ETH multisig cold wallet just made a transfer to our warm wallet about 1 hr ago. It appears that this specific transaction was musked, all the signers saw the musked UI which showed the correct address and the URL was from Safe. However the signing message was to change the smart contract logic of our ETH cold wallet,"
Bybit co-founder and CEO Ben Zhou posted to X. "This resulted Hacker took control of the specific ETH cold wallet we signed and transferred all ETH in the cold wallet to this unidentified address. Please rest assured that all other cold wallets are secure. All withdraws are NORMAL."
On Tuesday, the exchange announced it would be performing scheduled maintenance on its live server today stretching into tomorrow, which caused controversy as security researchers looked into the suspicious transactions.
The attacker then moved the majority of the funds to a second address, 0xa4b2, which swaps funds using decentralized exchanges, including Uniswap, Paraswap, and KyberSwap.
ByBit says its other hot and cold wallets are unaffected, and only their ETH wallets were impacted. "Bybit is Solvent even if this hack loss is not recovered, all of client assets are 1 to 1 backed, we can cover the loss," Zhou also post
1 day ago
1 day ago
In response EthereumNews to his Publication
It seems like this situation is quite concerning.
