Did Ethereum’s Design Enable The Bybit Hack? Experts Clash
The colossal $1.5 billion hack of Bybit last week has set off fierce discussions across the crypto community, with some industry voices contending that Ethereum’s design might have played a role. The theft of approximately 401,000 Ether (ETH)— orchestrated by the North Korean Lazarus Group—has raised questions about whether Ethereum’s complexity makes its ecosystem uniquely […]
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In a significant security breach, Bybit, one of the leading cryptocurrency exchanges, found itself at the center of a devastating hack. The attackers made off with a staggering $1.5B worth of ETH, sending shockwaves throughout the crypto space. As crypto continues to gain popularity, incidents like this remind us of the importance of safeguarding our […]
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Ethereum Foundation lead developer Tim Beiko has dismissed the idea of an Ethereum blockchain rollback following the Bybit crypto exchange hack. In a detailed post on X, Beiko explained why such a proposal is impractical and unfeasible. Related Reading: Grayscale’s Ethereum ETF On The Brink Of Major Change With NYSE’s Staking Proposal Ethereum Network Too […]
The famous crypto firm and exchange, Bybit, has been hit by possibly the biggest crypto theft in history. The Dubai-based company said that hackers managed to steal $1.5B worth of digital currency. The attack, which was apparently carried out by North Korea’s Lazarus Group, was a highly sophisticated one. Perpetrators were able to intercept a transaction taking place from the exchange’s cold wallet to the warm one. They manipulated the transaction’s signing interface and quickly diverted 401,000 $ETH to an unidentified address. Ironically, the breach affected Bybit’s cold....
The Crypto.com hack is less than a week old and still very fresh in the minds of investors in the space. In what was a brief attack, the hackers were able to access a portion of users’ accounts on the platform and steal their funds. In this report, we ask a couple of experts in […]