Bybit Founder Says $1.4B ETH Hack May Stem From Safe Wallet Compromise

Bybit founder Ben Zhou has raised concerns that multisig wallet provider Safe may have been compromised, allowing hackers to steal $1.4 billion in Ethereum (CRYPTO: ETH).

Speaking in a live stream, Zhou explained that the attack targeted Bybit’s Ethereum cold wallet, but all other wallets, including its Bitcoin (CRYPTO: BTC) reserves, remain unaffected.

How The Attack Unfolded

Zhou recounted how the attackers manipulated Bybit’s signing process while maintaining the appearance of a legitimate Safe transaction.

“It was a normal URL. I double-checked. It was the Safe URL from the official Safe website. We always use the official website,” Zhou said.

He explained that as part of standard security measures, he verified the UI and destination address, ensuring it matched Bybit’s warm wallet before approving the transfer.

However, the actual signing message was altered, not to authorize a simple transfer, but instead to …

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