this post was submitted on 22 Feb 2025

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Crypto exchange Bybit says a hacker took control of one of its cold Ethereum wallets, resulting in what analysts estimate was the loss of ~$1.5B worth of tokens (www.bloomberg.com)

submitted 1 year ago by Mazdak@lemmy.org to c/technology@lemmy.world

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[–] HappyTimeHarry@lemm.ee 3 points 1 year ago (1 child)

Social engineering, they convinced multiple key holders to sign a transaction.

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[–] muntedcrocodile@lemm.ee 5 points 1 year ago

The weakest part of any secure system.

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