PipeOne of the most famous cryptocurrencies in the world, she was attacked by the Internet that he saw ended $ 1.4 billion in ETH She drained. The accident occurred upon transportation From multiple cold wallet to a hot portfolio It was hacked due to an advanced attack, which dealt with the signing interface, and the correct address display but change the logic of the smart contract.
This allowed the attacker to control the ETH wallet and transfer money to an unknown address. The Stock Exchange immediately started investigations in cooperation with Blockchain security experts and industry partners.
The new revelation in the BYBIT case: monitoring by Zachxbt and CEO Ben Chu’s data
Blockchain analyst Zachbt I reported suspicious flows from bybit to reach more $ 1.46 billion. According to his sources, large quantities of Met and Stream It is currently exchanged on the Dex for ETH, which confirms that it is an attack on BYBIT. However, the post cannot be tracked as it was deleted before it a few minutes after the publication.
BYBIT CEO, Ben Chufor certain The transfer of the cold ethiz collection to the hot wallet occurred about an hour before the attack was discovered. He also revealed that all the signatories of the transaction witnessed a variable graphic interface, which presented the correct address while the basic symbol was tampered with. The site whose operation has been carried out has been associated with a Safe, a reliable platform for digital asset management.
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What can users do?
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The first thing to know is that the user’s money is not in danger. Perhaps, the stiffness of BYBIT allowed to manage excess liquidity for such rings. Although the attack did not include the user funds directly, it is always advisable to adopt some security measures:
- use A non -guardian wallet To store money in the long run, which limits the use of stock exchanges only.
- Activate all available security measures on the stock exchange, such as 2FA and the panel -based address.
- Monitor official transactions and advertisements to stay aware of any security issues.
The attacks of the infiltrators on the stock exchanges and the effect on the market
Central exchanges attacks are not new in the encryption sector. Similar rings were distinguished by decisive moments in the history of bitcoin and cryptocurrencies, with varying effects on the market. In 2014, penetration Mount Gox Exchange led to a severe decrease in Bitcoin from 600 to 300 dollars within a few months, which contributed to the feeling of the bear that lasted until June of the same year.
In 2016, the attack on Bitfinex It caused a temporary decrease in the price, but the market quickly recovered, prompting bitcoin to $ 700. DAO penetration effect in the same year was different, as it mainly affected Ethereum, but had no significant effects on Bitcoin.
In 2017, during the Bull Run of Bitcoin race, the attack on Nickhash occurred in conjunction with the peak of $ 19,000, and the price began to decrease in the following months, and find its lowest level in 2018. In the same year, such a Coincheck and Zaif attack in the market Already in the bear stage, which faster to $ 3,000 by the end of the year.
In 2020, the attack on Cocoin occurred while recovering the market, without affecting the positive direction that led Bitcoin up to $ 60,000. In 2021, the Polly Network penetrated in the market context close to the peak, expecting the bear stage.
Recently, in 2022, attacks such as those on the Ronin network and FTX collapsed had a major impact. In particular, the FTX failure coincided with the decline in the market, which represents a turning point for subsequent recovery in 2023.
Thus, the attack on BYBIT is part of a long series of similar rings, showing how infiltrators continue to search for weaknesses even in the most advanced systems.
Security in the central stock exchanges: a constant challenge
This episode again raises the issue of security in the exchange of cryptocurrencies. Central stock exchanges, while comfort provides users, are frequent targets for infiltrators who are looking to exploit each security vulnerability.
Some of the main points of view:
- Use a Cold wallet Reduces the risk of direct attacks on user’s money, but it does not completely cancel them.
- Facades Smart contract Verma e It should be updated and monitored constantly.
- The monitoring of transactions and a quick response can reduce the damage of potential attacks.
The future of security in the stock exchanges
After attacks of this size, exchanges are likely to increase safety levels. Some possible solutions include:
- Implementing multi -factor authentication for all critical transactions.
- Behavioral analysis of transactions to determine suspicious processes in actual time.
- A closer cooperation with Blockchain forensic companies to improve the ability to track and restore stolen money.
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Warning for the entire encryption sector
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The infiltrated attack on bybit is a clear indication of the importance of safety in the encryption sector. The development of attacks continues to increase, which requires more advanced defense strategies.
The stock market committed to providing the maximum transparency in this matter and constantly updating society to the progress of investigations.
Keep seeing the latest news from the world of encryption and discover the best way to protect your money!
