Comment on Crypto exchange Bybit says a hacker took control of one of its cold Ethereum wallets, resulting in what analysts estimate was the loss of ~$1.5B worth of tokens

muntedcrocodile@lemm.ee ⁨5⁩ ⁨weeks⁩ ago

• Transform2942@lemmy.ml ⁨5⁩ ⁨weeks⁩ ago

  Somebody made a huge opsec mistake

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  • Evotech@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

    Room temperature wallet

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    • muntedcrocodile@lemm.ee ⁨5⁩ ⁨weeks⁩ ago

      Right next to their iq

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• x00z@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

  Image

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  • dhork@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

    Do I understand this correctly, then, that this was some sort of MITM attack where valid requests to the multisig parties were replaced by malicious code while still appearing to be valid to the signers? That must be an inside job.

    And this is the first time I have heard the word “musked” in this context…

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    • x00z@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

      Do I understand this correctly, then, that this was some sort of MITM attack where valid requests to the multisig parties were replaced by malicious code while still appearing to be valid to the signers? That must be an inside job.

      I have no idea. I guess they’ll release a lot more info regarding this in the next few days.

      And this is the first time I have heard the word “musked” in this context…

      I think his English isn’t good looking at the rest of the message. Might be “masked” instead.

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• golli@lemm.ee ⁨5⁩ ⁨weeks⁩ ago

  What I don’t quite understand is how there is 1.5 billion in a single wallet. Or how are these things structured?

  This article puts their total assets under management at $15.7b, which are held in different cryptocurrencies with ethereum at just above $5b.

  So I am wondering how they have more than 1/6 of their Ethereum in a single wallet or were these multiple that were connected and got compromised through the same vulnerability? How expensive is it to have more individual wallets? Would it not be feasible to have it split in something like $100m chunks? Or any other more moderate size.

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  • DaPorkchop_@lemmy.ml ⁨5⁩ ⁨weeks⁩ ago

    Making more wallets would cost nothing more than a few hundred bytes of storage each for the keys. I have no idea why they wouldn’t have split their funds into evenly sized wallets of, say, $1M each.

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• Zachariah@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

  I recommend gloves.

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• dhork@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

  Well, either it wasn’t as offline as they all thought, or someone pulled off an epic inside job.

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• MintyFresh@lemmy.world ⁨5⁩ ⁨weeks⁩ ago

  With steely determination

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