SAFE Token Plummets After Security Report Highlights Theft Incident

The price of the SAFE token experienced a significant drop of over 12% on February 26th, trading at $0.4681 according to market data. This decline follows a recent security report released by Bybit that attributes a $1.5 billion theft incident to vulnerabilities in Safe’s infrastructure. In response, Safe claimed the theft was caused by an intrusion into a developer’s machine and denied any vulnerabilities were present within their smart contracts, frontend, or service source code.