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>Bybit CEO Ben Zhou wrote on X that a hacker "took control of the specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified a
by ycombinatrix 2y ago
>Bybit CEO Ben Zhou wrote on X that a hacker "took control of the specific ETH cold wallet and transferred all the ETH in the cold wallet to this unidentified address."
Um how tf does a cold wallet get hacked?
- w_TF 2y agoHave to wait for a post-mortem, but there was some speculation from Ben earlier in his spaces. They used a gnosis safe which is a smart contract multi-sig wallet that is pretty much the gold standard for Ethereum. They believed that all of the signers' pcs were hacked and that the UI for signing was staged with a fake element to make it appear like a normal transfer. They were signing with hardware wallets, but it's hard to verify what you're signing from a ledger typically. What they ended up signing instead was an upgrade to the smart contract giving control of the gnosis safe to the hacker who then drained it.
- ycombinatrix 2y agoThanks for the explanation. It wasn't a cold wallet.