How on earth is it possible they can cover a 1.5B loss? Are they really sitting on that much profit, or is the goal to ponzi it out from here, MtGox style?
> The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far.
If you showed me a paragraph like this a decade ago and told me it was from 2025, I would have a difficult time believing you.
There's some info and speculation in these two (distinct) articles, but I'd love to know technical details of where the gaffs were.
eg. Was client software compromised? Did the multisig keyholders succumb to social engineering? Were the signers using airgapped machines / hardware devices?
Society has devolved a bit when not long ago a heist like this would involve sieging Nakatomi Plaza, now it takes just finding a bug in someone's defective Python codes.
FabHK ·1 hours ago
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plantain ·7 hours ago
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chabes ·21 hours ago
> The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far.
If you showed me a paragraph like this a decade ago and told me it was from 2025, I would have a difficult time believing you.
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rkagerer ·15 hours ago
eg. Was client software compromised? Did the multisig keyholders succumb to social engineering? Were the signers using airgapped machines / hardware devices?
https://archive.ph/YMZrq
https://blockworks.co/news/bybit-hack-raises-security-questi...
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huang_chung ·22 hours ago
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