ByBit Exchange Hack ($1.4B Transactions) - Security Researcher Explained 1. What the transaction did 2. How it could have (potentially) been prevented 3. How to spot this kind of transaction

You can also view it on YouTube.

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Best breakdown of the Bybit hack and, more importantly, the solutions to prevent such incidents in the future.

ty ser <3

Nice explanation! When we built our own multisig @aktionariat, we consciously made it immutable (no upgradable proxy) and without support for delegatecalls. These are two additional design decisions that could have prevented the Bybit attack.

@aktionariat If the hackers managed to get users to sign bad transactions, it almost didn't matter what the architecture was. For your own multi-sig, it could have just been as easy as directly sending ETH in a multi-sig TX or something.

Watching that video pretty well sums up why ethereum will never be the new internet soon all will go to #ICP to spend their #BTC on porn, pop culture, poker, and politics sovereignty for the zeitgeist!

Awesome breakdown, especially how fast you made this

First thing I did when I woke up to the news this morning was literally rush back and watch that video again while I pictured you doing this all day lmao 😂

It was worse with the hack this week where the users put their private key in the frontend.

Clear. But how they hacked the UI ?

Still unclear as of today