Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bybit Forensic Investigation Determines $1,480,000,000 Hack Stemmed From Vulnerability in Safe Wallet

An investigation into the recent Bybit hack has determined that the attackers most likely took advantage of a vulnerability in Safe, the crypto wallet that Bybit was using. Late last week, hackers linked to North Korea’s Lazarus Group pulled off what is believed to be the biggest heist in history, stealing $1.48 billion from Bybit’s Ethereum ( ETH ) wallet. Now, after an investigation by finance security firm Verichains and cybersecurity consultants Sygnia, Bybit CEO Ben Zhou reveals that Lazarus most likely compromised the exchange’s ETH wallet directly through Safe by accessing its Amazon Web Services (AWS) bucket. “The benign Javascript file of app.safe.global appears to have been replaced with malicious code on February 19, 2025, at 15:29:25 UTC, specifically targeting Ethereum Multisig Cold Wallet of Bybit. The attack was designed to activate during the next Bybit transaction, which occurred on February 21, 2025, at 14:13:35 UTC… Based on the investigation results from the machines of Bybit’s Signers and the cached malicious Javascript payload found on the Wayback Archive, we strongly conclude that AWS S3 or CloudFront account/API Key of Safe.Global was likely leaked or compromised.” In a statement , Safe also confirmed the on-chain investigators’ findings. “The forensic review into the targeted attack by the Lazarus Group on Bybit concluded that this attack targeted to the Bybit Safe was achieved through a compromised Safe{Wallet} developer machine resulting in the proposal of a disguised malicious transaction… Following the recent incident, the Safe{Wallet} team conducted a thorough investigation and have now restored Safe{Wallet} on Ethereum mainnet with a phased rollout. The Safe{Wallet} team has fully rebuilt, reconfigured all infrastructure, and rotated all credentials, ensuring the attack vector is fully eliminated.” Safe says it will release a more in-depth post-mortem report on the attack in the near future. Just days after the hack, Zhou said the exchange had restored a 1:1 backing on all client assets after the record-setting hack. His claims were echoed in a proof-of-reserves audit report published by the blockchain security auditor Hacken on Sunday. “The Hacken team’s Proof of Reserves audit, conducted on Sunday, February 23, 2025, demonstrates that Bybit maintains an in-scope reserve ratio of > 100 %. This finding signifies that Bybit possesses sufficient reserves to cover its in-scope liabilities, thereby bolstering trust and confidence among its users and stakeholders.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bybit Forensic Investigation Determines $1,480,000,000 Hack Stemmed From Vulnerability in Safe Wallet appeared first on The Daily Hodl . CoinOtag

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BNB (BNB) Vs. Solana (SOL) - Can One Outperform in Recovering to ATH in the Coming Months?

BNB and Solana, two major cryptocurrencies, draw significant attention as the market watches for their next moves. Analysts and investors alike wonder which of these digital assets is poised to bounce back to previous highs. This article delves into expert opinions and market trends to reveal which coin may lead the charge in recovery. BNB Price Analysis: Past Performance and Key Levels BNB recorded a 5.86% drop over the last month along with a 3.10% decline in the past week, while the six-month performance showed a solid gain of 16.93%. The coin experienced short-term pressure that contrasts with the mid-term strength, highlighting a market that has reacted differently over varying timeframes. Current trading sees BNB priced between $627.90 and $736.20, with key resistance at $795 and a second level at $903.30, and immediate support at $578.40 with a secondary support at $470.10. Bears have influenced the market, as seen in negative oscillator readings, but the overall picture remains mixed. Traders might explore opportunities near support levels while waiting for clearer directional cues. Solana Price Analysis: Recent Volatility and Market Insights Last month saw a steep 41% drop with a notable weekly decline of over 17%, while the half-year performance edged close to flat with only a 0.08% change. Price pressure intensified over the short term, even though the longer trend maintained a near-constant level. Volatility accompanied the recent downturn, suggesting that selling pressure was prominent and caused the sharp declines observed recently and over the past month. The current price oscillates between roughly $169 and $295, with immediate resistance near $358 and support around $106. A second resistance level sits at $484. Indicators show bearish sentiment, yet the low RSI and negative momentum suggest oversold conditions. This creates potential trading opportunities for cautious long entries within these levels. Conclusion BNB and Solana both have unique strengths that could help them recover to their previous highs. BNB benefits from its integration with Binance, one of the largest crypto exchanges. This gives it strong support and utility. Solana impresses with fast transaction speeds and lower costs, making it attractive for developers and users. While both have been affected by recent market fluctuations, their potential for recovery is high with the ongoing bull run in 2024. Investors will need to watch key developments and partnerships to gauge which might outperform in the coming months. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. CoinOtag