By Nermeen Nabil Khear 
The report, titled “Bybit Interim Investigation Report,” provides critical insights into an attack on Bybit’s Ethereum Multisig Cold Wallet.
It offers clarity for users and the broader crypto community. Let’s discover more about this news for Bybit.
Malicious Code in Safe{Wallet} Linked to Bybit Breach
According to the findings, the root cause of the breach traces back to malicious code originating from Safe{Wallet}’s infrastructure. Sygnia’s forensic analysis of the three signers’ hosts revealed no compromise within Bybit’s systems, suggesting the attack stemmed externally. However, the investigation remains ongoing to further confirm these conclusions, ensuring no stone is left unturned.
A separate preliminary report from Verichains corroborates Sygnia’s findings, pinpointing the malicious activity to February 19, 2025. At 15:29:25 UTC, a benign JavaScript file of app.safe.global was replaced with harmful code specifically designed to target Bybit’s Ethereum Multisig Cold Wallet (address: 0x1Db92e2eBC8E0c73a02B8A49a235BCDFCF4).
Bybit Hack Forensics Report
As promised, here are the preliminary reports of the hack conducted by @sygnia_labs and @Verichains
Screenshotted the conclusion and here is the link to the full report: https://t.co/3hcqkXLN5U pic.twitter.com/tlZK2B3jIW— Ben Zhou (@benbybit) February 26, 2025
The attack was activated during Bybit’s next transaction on February 21, 2025, at 14:13:35 UTC, hitting the bullseye of the exchange’s security measures. Verichains also concluded that an AWS S3 or CloudFront account/API key of Safe. Global was likely leaked or compromised, raising concerns about third-party vulnerabilities in the crypto ecosystem.
More About ByBit’s Report
The reports emphasize that Bybit’s infrastructure remains uncompromised, a silver lining for users worried about the platform’s integrity. However, the incident underscores the importance of robust security practices across all crypto-related services. Bybit’s transparency in releasing this report demonstrates its commitment to accountability, even as it works to finalize the investigation.
For American crypto enthusiasts, this news serves as a wake-up call. The crypto space, often described as the Wild West, requires constant vigilance to protect digital assets. While Bybit dodged a bullet here, the breach highlights how quickly things can go south if third-party dependencies falter. Users are advised to stay tuned for further updates as Bybit and its partners dig deeper to validate the findings and prevent future incidents.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post Bybit Releases Investigation Report on Recent Security Breach appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.