Bybit Confirms Security Integrity Amid Safe (Wallet) Incident - No Compromise in Infrastructure

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26 Feb, 2025, 22:25 IST

DUBAI, UAE, Feb. 26, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, today issued an important update to the community on the ongoing forensic investigation into the recent security incident. Our preliminary findings reaffirm the integrity of Bybit's infrastructure while providing crucial insights into the nature of the attack.

The forensic review into the targeted attack by the Lazarus Group concluded that the credentials of a Safe developer were compromised. This allowed the attacker to gain unauthorized access to the Safe(Wallet) infrastructure and totally deceive signers into approving a malicious transaction.

Bybit had engaged third-party forensic experts, including Verichains and Sygnia Labs, to conduct an independent review. Both forensic experts have found no indications of any compromise within Bybit's infrastructure as confirmed in SAFE's own statement relating to the compromise of its own environment.

Full report can be downloaded here: https://docsend.com/view/s/rmdi832mpt8u93s7

Bybit's Immediate Response and Future Measures

Bybit had moved the majority of funds out of its Safe Wallet administered addresses on the day of the incident. Ensuring the safety and security of our users remains our top priority. We actively evaluate alternative wallet solutions for custody that meet the highest security standards.

Bybit is and remains 100% secure. Our preliminary forensics experts have concluded that our infrastructure was not compromised. We will continue to enhance our security measures and collaborate with top security experts to uphold our commitment to user safety.

Statement from Ben Zhou, Co-founder and CEO of Bybit:

"Bybit remains steadfast in our commitment to security and transparency. The preliminary forensic review finds that our system was not compromised. While this incident underscores the evolving threats in the crypto space, we are taking proactive steps to reinforce security and ensure the highest level of protection for our users."

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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