{"id":14374,"date":"2025-02-21T16:48:17","date_gmt":"2025-02-21T16:48:17","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14374"},"modified":"2025-02-21T16:48:17","modified_gmt":"2025-02-21T16:48:17","slug":"bybit-founder-confirms-1-4-billion-ethereum-hack-blames-masked-transaction","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14374","title":{"rendered":"Bybit Founder Confirms $1.4 Billion Ethereum Hack, Blames &#8216;Masked&#8217; Transaction"},"content":{"rendered":"<div>\n<p><strong>Bybit <\/strong>founder <strong>Ben Zhou<\/strong> has confirmed that the cryptocurrency exchange suffered a $1.4 billion <strong>Ethereum <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\">ETH<\/a>) hack, making it one of the <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/02\/43614251\/hacker-pleads-guilty-to-secs-fake-bitcoin-etf-post-on-x-that-triggered-financial-wipeout-worth-millions\">largest security breaches in recent history<\/a>.<\/p>\n<p>The attack, which targeted Bybit&#8217;s Ethereum cold wallet, resulted in the loss of 401,347 ETH ($1.12 billion), 90,376 stETH ($253 million), 15,000 cmETH ($44 million), and 8,000 mETH ($23 million), <a href=\"https:\/\/x.com\/OnchainLens\/status\/1892964703263244377\">according<\/a> to Onchain Lens.<\/p>\n<h3 class=\"wp-block-heading\"><strong>Bybit&#8217;s Security Breach Explained<\/strong><\/h3>\n<p><a href=\"https:\/\/x.com\/benbybit\/status\/1892963530422505586\">According<\/a> to Zhou, the attack stemmed from a manipulation of Bybit&#8217;s multisig wallet interface, tricking signers into unknowingly approving a fraudulent smart contract update.<\/p>\n<p>&#8220;It appears that this specific transaction was masked. All the signers saw the masked UI, which showed the correct address, and the URL was from Safe,&#8221; Zhou stated. &#8220;However, the signing message was to change the smart contract logic of our ETH cold wallet.&#8221;<\/p>\n<p>Bybit&#8217;s team mistakenly authorized a contract modification, allowing attackers to take full control of the cold wallet and transfer &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/02\/43886224\/bybit-founder-confirms-1-4-billion-ethereum-hack-blames-masked-transaction\" alt=\"Bybit\" founder confirms billion ethereum hack blames transaction>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bybit founder Ben Zhou has confirmed that the cryptocurrency exchange suffered a $1.4 billion Ethereum (CRYPTO: ETH) hack, making it one of the largest security breaches in recent history. The attack, which targeted Bybit&#8217;s Ethereum cold wallet, resulted in the loss of 401,347 ETH ($1.12 billion), 90,376 stETH ($253 million), 15,000 cmETH ($44 million), and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14374","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14374"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14374\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}