ByBit Hack Exposes Critical Wallet Security Weakness

A recent hack on the ByBit platform has exposed a major vulnerability in its Safe wallet service, leading to a significant security lapse. The attack by the Lazarus group was revealed after investigations showed that their malware infiltrated the development machine responsible for safeguarding user funds. 87,870 in Bitcoin was lost during the incident. ByBit is working on restoring operations, focusing on enhanced security measures and increased awareness. The investigation has determined that no vulnerabilities were found within the smart contracts or the frontend services of the Safe wallet.