🔥 Safe but Unsafe – Bybit Officially Cleared
📣 The $1B4 Bybit hack has been confirmed to originate from a security vulnerability in Safe Wallet, NOT from any internal issue at Bybit.
📍 @safe Safe Wallet, a company providing Multisig wallet solutions, was the real cause of the hack. Here’s what happened:
👉 The #Lazarus hacker group gained access to Safe Wallet’s team devices, allowing them to infiltrate the AWS S3 storage.
👉 From there, they injected a malicious JavaScript code to create a fake transaction.
👉 Finally, they sat back and waited for Bybit to transfer $1.46 billion to them.
👉 The report also confirms that Bybit had no security breaches and that all signers followed proper procedures.
📍 The big question of how a multisig wallet got hacked has now been answered. But how will Safe handle Bybit’s losses?
👉 Full hack report (1B4 incident): https://t.co/IQ4On1NMXh
👉 Safe’s official statement: https://t.co/f0vEvDsBU5
👉 Bybit remains secure – register your Bybit account here: https://t.co/ZiTXZDRyUE🚀
From the Sleepless Twelve Hours
Over the past 12 hours, our Bybuddies have worked tirelessly to support our users by:
- Borrowing ETH to facilitate withdrawals
- Increasing liquidity for USDT and USDC
But we weren’t alone. Many industry partners stood by us, working through the night to find solutions.
One of the most brilliant tech experts dedicated hours to identifying the root cause and provided Bybit with the first investigation report. The depth and professionalism of this report are remarkable. He even took the first flight to Dubai on his own initiative to join our security team and assist in the ongoing investigation—purely out of commitment to the industry.
“Just like him, many of our partners stepped up, proving that when the crypto industry is challenged, we come together to fight for it.” 💪💪
- Helen Liu, COO of Bybit
12 hr from the worst hack in history. ALL withdraws have been processed. Our withdraw system is now fully back to normal pace, you can withdraw any amount and experience no delays. Thanks for your patience and we are sorry that this has happened.
Bybit will come out with full incident report as well as security measurement in the next few days. I will also personally keep you all posted on any new updates. Thanks to all the clients, friends and partners who have helped and supported us during this excruciation 12 hrs.
The real work has just now started.
🦑 Get ready to be part of the SQUID raise!
We’ll soon kick off the raise for #SQUID on @SuiNetwork. Will you join in?
Here’s the allocation breakdown:
45% – Members (FCFS for user who reaches $2,000 volume on SQUID Bot - 900 slots)
10% – Volume Event (Trade and Earn on SQUID Bot - 50 slots)
25% – KOLs and Mini Events with Communities
15% – Team and Partners
5% – Airdrop to Top Holders
Note: 45% for members are for everyone who meets the eligibility requirements, but only 900 slots are available to buy!
Stay tuned for our next update on the SQUID raise, coming soon on our official channels!
🦑 Learn more about SQUID
Website: https://t.co/Ir6q72SvW7
BOT: https://t.co/rFEBb7OM33
TG Chat: https://t.co/xc3JC7Pzin