1.5 billion dollars of Bybit Hack is not only another crypto violation, but a call to wake up for the whole industry. Even cold wallets and even multiple protection failed, which revealed security vulnerabilities that every change should be discussed.
Basic Lessons for Crypto Exchange:
1.) Multisig is not an excellent solution
Bybit used a multiple cold wallet, but attackers deceived those who signed fake operations. If the key holders are endangered, Multisig does not work.
2.) UI fraud is a growing threat
Computer pirates manipulated the signature interface to make the transactions look legitimate. This method skips the smart contract vulnerabilities and targets human error and makes it very difficult to identify.
3.) Cold wallets are not invincible
The attack took place while carrying the funds to a warm wallet. Many believe that cold wallets are untouchable, but if the processing signing is manipulated, even offline storage is not safe.
4.) Speed is important in the security response
Bybit, 350 thousand withdrawals in 10 hours of withdrawal and prevented the total melting. But better real -time monitoring could stop the attack before billions of disappears.
5.) Lazarus group strikes again
The Lazarus group of North Korea is suspected of laundering funds through Solana and Binance smart chain, and proves that computer pirates use nipples and fast -moving defi protocols to clean the stolen assets.
What needs to change?
1 book
Each process must require cross -verification through independent systems, which should make it difficult for fake interfaces to succeed.
2.) Hardware wallet improvements
Many hardware wallets do not display full processing details and force users to blind signs. This needs to change.
3.) Real -time fraud detection
Artificial intelligence monitoring systems should immediately mark unusual activities before the funds disappear. Traditional finance has this – why doesn’t it make crypto?
4.) Edited self -neglect options
The stock exchanges are highly valuable targets because they hold billions on user funds. A movement towards the hybrid custody solutions that users have a partial control can prevent these major losses.
Crypto safety is not only about better technology, but to minimize human risks, to stop UI manipulation and to ensure that the process approvals are perfect.
As the crypto hackers become more sophisticated, the industry needs to develop faster than the attackers. If cold wallets and multisig are not enough, what’s next?
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