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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

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golli@lemm.ee ⁨1⁩ ⁨week⁩ 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 ⁨1⁩ ⁨week⁩ 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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