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Hacking News
Bitcoinist
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Bybit Turns To Bitget And Binance For $239 Million ETH Loan Amid Withdrawal Spike
- Bybit, a popular crypto exchange, is reeling from a $1.5 billion hack in digital assets.
- Bybit receives 88,000 ETH (~$239 million) from Binance and Bitget to cover withdrawal requests.
- Authorities link the hack to the North Korean hacking group, Lazarus Group.
- Bybit's CEO assures users that the exchange remains solvent and customers' funds are backed 1:1.
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15 Likes
TronWeekly
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Crypto Exchanges Should Halt Withdrawals Post-Hack, Binance Founder CZ Strongly Recommends
- Following the recent hack of Bybit cryptocurrency exchange by the Lazarus Group, Binance founder CZ expressed growing concerns about security in the industry.
- CZ recommends secure measures such as securing private keys and backups, using trusted exchanges, and implementing proper backups to safeguard crypto assets.
- CZ emphasizes the need for immediate withdrawal halts after detecting a breach, allowing exchanges to fully investigate and address security issues before resuming operations.
- Bybit CEO Ben Zhou openly disclosed the breach and assured users that the internal Bybit systems remained intact, enabling uninterrupted withdrawal functions.
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Securityaffairs
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Lazarus APT stole $1.5B from Bybit, it is the largest cryptocurrency heist ever
- Crypto exchange Bybit was the victim of a sophisticated attack, and threat actors stole $1.5B worth of cryptocurrency from one of the company’s offline wallets.
- Bybit’s ETH cold wallet was compromised in the attack that masked the signing interface, allowing threat actors to redirect funds to an unknown address.
- The Bybit hack is the largest cryptocurrency heist ever, surpassing previous ones like Ronin Network ($625M), Poly Network ($611M), and BNB Bridge ($566M).
- The cyber heist is attributed to the Lazarus APT group, known for their advanced methods and previous attacks on banks and cryptocurrency exchanges.
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22 Likes
Livebitcoinnews
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Ethena Labs Confirms No Unrealized PNL Exposure to Bybit
- Ethena Labs assures no unrealized PNL exposure to Bybit after security incident.
- USDe stablecoin fully collateralized and kept off exchanges.
- Initial estimate of exposure at $30 million reduced to zero.
- Ethena's quick response highlights the importance of safe custody solutions in the DeFi space.
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7 Likes
Hackers-Arise
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240
Image Credit: Hackers-Arise
Why YOU Should Study Software Defined Radio (Signals Intelligence) for Hackers!
- Hacking radio signals (RF) IS the leading edge of cybersecurity!
- Many applications in modern life utilize radio frequency elements, which may lack security or have easily breakable security measures.
- Software Defined Radio (SDR) offers the flexibility to manipulate and decode analog signals on a computer, enabling the listening and manipulation of secure transmissions.
- SDR has various applications, including building private and secure cellular phone systems.
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14 Likes
NullTX
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Image Credit: NullTX
Bybit Faces $1.5 Billion Hack: ETH Multisig Cold Wallet Compromised
- Bybit, a major cryptocurrency exchange, experienced a security breach resulting in a $1.5 billion loss in digital assets focused on the Ethereum (ETH) multisig cold wallet.
- The breach involved a sophisticated strategy deceiving wallet signers, triggering concerns about cold wallet security and blind signing risks.
- Hackers exploited blind signing, tricking signers into unknowingly approving a malicious smart contract logic change in Bybit's ETH cold wallet.
- By manipulating the signing process, the attacker gained control of the cold wallet, transferring all ETH swiftly to an unknown address.
- Bybit's assurance of solvency post-attack ensures users that client assets are secure, even with the unrecovered $1.5 billion loss.
- The breach occurred exclusively in the ETH cold wallet, with other wallets on the Bybit platform confirmed as secure.
- Bybit's response post-breach underlines the risks posed by multisig wallets and cold storage in the cryptocurrency industry.
- Enhanced security measures are imperative for crypto exchanges to mitigate risks associated with blind signing and hacking attempts.
- Bybit aims to collaborate with cybersecurity experts to prevent future breaches, emphasizing the need for heightened security and user asset protection.
- While the incident raised concerns, Bybit's prompt actions and commitment to improving security protocols have helped restore confidence in the exchange's operations.
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24 Likes
Guardian
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‘We’re clearly heading towards collapse’: why the Murdoch empire is about to go bang
- The Murdoch family empire is facing turmoil and potential collapse as revealed by recent stories in the New York Times and the Atlantic.
- A secret trial concerning the Murdoch family trust exposed internal dysfunction and power struggles among Rupert Murdoch's children.
- The trial involved accusations of acting in 'bad faith' against Rupert and Lachlan Murdoch, resulting in public fallout.
- The potential inheritance dispute could lead to a $43bn business sale, ending decades of Murdoch family influence in media and politics.
- Despite current political and legal success, internal family conflicts jeopardize the future stability of the Murdoch empire.
- Rupert Murdoch's anti-environmentalist, right-wing media aligns with figures like President Trump, despite familial disagreements.
- The future of key assets like Fox News is uncertain, facing defamation claims and potential sell-offs amid family discord.
- The Murdoch heirs are divided over business strategies, with speculations on business dismantling and financial settlements.
- The influence and financial stability of News Corp's various assets, including newspapers and book publishing, are under scrutiny amidst family disputes.
- The family drama within the Murdoch empire brings into question the future trajectory of one of the most powerful media families in the world.
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18 Likes
Cryptopotato
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Image Credit: Cryptopotato
Bybit Hack Fallout: Arthur Hayes, Samson Mow Push for Ethereum Rollback
- Bybit's hot wallet was hacked, resulting in the theft of $1.5 billion worth of mostly ETH.
- Arthur Hayes and Samson Mow propose a rollback of Ethereum's chain in response to the hack.
- Hayes believes previous rollbacks have set a precedent for it to happen again.
- Others caution that rolling back the blockchain could have far-reaching implications and undermine its immutability.
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8 Likes
Securityaffairs
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131
Image Credit: Securityaffairs
Apple removes iCloud encryption in UK following backdoor demand
- Apple removed iCloud’s Advanced Data Protection in the UK after the government requested encryption backdoor access.
- The UK demanded Apple to create a backdoor to access any iCloud backups, raising concerns about user privacy.
- Apple announced that the Advanced Data Protection feature is no longer available in the UK for new users.
- Existing ADP users must manually disable it, as Apple cannot do so automatically.
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7 Likes
Coinpedia
1M
344
Image Credit: Coinpedia
Bybit News: $1.4B Stolen in Largest Crypto Hack – Lazarus Group Suspected
- Bybit, a major cryptocurrency exchange, has suffered a record-breaking $1.4 billion hack, surpassing previous breaches.
- The North Korean-linked Lazarus Group is suspected to be behind the attack, and a bounty of $31,500 is offered to track the attackers.
- The hack has raised concerns about the security of centralized exchanges, as hackers employed advanced social engineering tactics.
- This incident has led to a loss of confidence in centralized exchanges and has sparked interest in uncovering the culprits responsible.
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20 Likes
Bitcoinik
1M
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Bybit Hack Fallout: Arthur Hayes Proposes Ethereum Rollback Amid $1.4b Theft, Critics Warn of Ecosystem Risk
- Arthur Hayes proposes Ethereum rollback as a solution to Bybit hack.
- Concerns raised about potential damage to Ethereum Ecosystem if rollback is executed.
- Bybit exchange lost $1.4 billion in a hacker attack on February 21.
- Ethereum's value dropped by nearly 3% following the incident.
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11 Likes
Bitcoinik
1M
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Image Credit: Bitcoinik
Bybit Hack: $1.4b ETH Stolen, Bitcoin Dips to $95K & Ethereum Drops to $2,600
- Bybit’s CEO confirmed that Bybit lost around $1.5 billion ETH in a hacker attack.
- Crypto prices dropped on the Bybit crypto exchange after a security incident occurred.
- Bitcoin and Ethereum slipped to $95,000 and $2,600 respectively.
- Bybit's team has been working non-stop to ensure smooth operations and process withdrawal requests.
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1 Like
Coinpedia
1M
204
Image Credit: Coinpedia
Biggest Crypto Hack Ever: North Korea’s Lazarus Group Steals $1.5B from Bybit!
- The notorious North Korean hacker group Lazarus has been linked to the massive $1.5 billion exploit on Bybit.
- The attackers used a method called 'Blind Signing' to execute the breach, compromising Bybit's ETH cold wallet.
- The stolen funds were divided among over 40 different wallets, making tracking and recovery more difficult.
- Lazarus's cyberattacks are believed to be a state-sponsored initiative to fund North Korea's military projects.
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12 Likes
Cryptopotato
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Image Credit: Cryptopotato
ByBit Lost 70% Of Ethereum Holdings To Hacker, Says CEO
- Bybit, a crypto exchange, lost around seventy percent of its customers' ETH holdings in a $1.5 billion hack.
- Hackers tricked the key holders of Bybit's cold wallet into signing a malicious transaction, allowing them to steal over 400,000 Ether.
- The hack was allegedly carried out by the North Korean 'Lazarus Group', a notorious hacking group.
- Despite the loss, Bybit assured that all client losses are covered, and the exchange is securing a bridge loan to support liquidity.
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10 Likes
Medium
1M
426
Image Credit: Medium
From Cheats to Breaches: The Cybersecurity Landscape of Modern Gaming
- Game developers face cyberattacks like DDoS, ransomware, and data breaches, leading to financial losses and reputation damage.
- Cheating in gaming undermines fair play and causes player dissatisfaction and potential revenue loss.
- Developers must navigate data compliance regulations like GDPR and CCPA to protect user privacy.
- Securing online multiplayer games presents unique challenges, including protecting in-game economies and ensuring fair competition.
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25 Likes
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