Both the Attackers and Victims Made Critical Mistakes --- On February 21, 2025, the cryptocurrency exchange Bybit experienced the most significant financial loss in Web3 history when nearly $1.5 billion was illicitly transferred from its multi-signature wallet by North Korean threat actors. The DARKNAVY team has been closely monitoring security developments within the Web3 ecosystem. Following the Bybit incident, we conducted a reconstruction of the attack, analyzing it from the perspectives ...
