Cryptocurrency exchange Bybit has released a detailed investigation report on a recent security breach. The report, compiled by cybersecurity firms Sygnia and Verichains, suggests that the breach was due to a compromise in Safe{Wallet}'s infrastructure rather than Bybit's own systems. The unauthorized activity was discovered on February 21, 2025, involving suspicious transactions from one of Bybit's Ethereum cold wallets. The attacker intercepted and manipulated a multisig transaction, gaining control of the cold wallet's assets, which were then transferred to an external wallet. Bybit commissioned Sygnia to investigate the attack.



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