In-depth Analysis of the $1.5 Billion Theft Incident at Bybit: Identifying Security Blind Spots in Multi-signature Wallets and Upgrading Industry Defense Mechanisms
This discussion started with the $1.5 billion theft incident of Bybit, mainly exploring the security vulnerabilities of multi-signature wallets (like Safe) and their solutions. DiscussFish pointed out that there are weak points in the infrastructure such as the front end, hardware and browsers that multi-signature wallets rely on. Especially, front-end tampering and blind signing issues cause a mismatch between transaction intentions and actual operations, making them easy to be exploited by hackers. To solve this, he proposed temporary solutions like domain whitelists and transaction parsing plugins, and advocated for an end-to-end closed-loop risk control system, combining AI and third-party verification to boost security. Moreover, DiscussFish first shared his experience of being phished for 12,000 ETH last year, highlighting the risks of blind signing of hardware wallets. He called on the industry to adopt a hierarchical and decentralized structure, a zero-trust architecture, and s...