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Bybit and Safe Custody Are at Odds on Who's to Blame for $1.5B Hack.

2025-02-26

Bybit's forensic report on its $1.5B hack blames compromised Safe wallet credentials, not Bybit's systems. Safe disputes this, stating its smart contracts were unaffected and the breach originated from a compromised developer machine. A source claims Bybit's "blind signing" of the transaction enabled the hack despite the compromised wallet. On-chain analysis reveals Lazarus Group is laundering the funds, mixing them with funds stolen from previous Phemex and Poloniex hacks. This situation mirrors the WazirX/Liminal Custody blame game following a similar incident last year.

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