Bybit Heist: $1.4B Ethereum Stolen in Safe{Wallet} Exploit

Summary: Bybit, a cryptocurrency exchange, experienced a significant cyberattack when approximately .4 billion in Ethereum was stolen due to a security breach in the Safe{Wallet} multi-signature platform. Investigations revealed that the Lazarus Group was behind the attack, having infiltrated Safe{Wallet} and waiting for the right moment to exploit their vulnerability. The attackers used malicious JavaScript code to compromise Bybit’s operations while remaining undetected until the exploit was executed.

Affected: Bybit and Safe{Wallet}

Keypoints :

• A cyberattack led to the theft of .4 billion worth of Ethereum from Bybit.
• The security vulnerability was traced back to Safe{Wallet}, not Bybit directly.
• The Lazarus Group utilized compromised developer credentials to inject malicious code into the platform.
• Safe{Wallet} has since rebuilt its infrastructure and conducted a full credential rotation to prevent future attacks.