Bybit sees more than $ 4 billion “Run Bank Run” after the largest penetration of Crypto | Currency News Financial and commercial news

The main Exchang Beit saw more than $ 5.5 billion after being encoded Almost $ 1.5 billion in penetration This has seen the infiltrators, who believed to be from the Lazaros group in North Korea, draining the cold ether portfolio.

The total assets that follow the portfolio associated with the exchange decreased from about 16.9 billion dollars to $ 11.2 billion at the time of writing this report, according to data from Devilia. The stock exchange is now looking to understand exactly what happened.

At the X Spaces session, BYBIT CEO, Ben Chu, shortly after the accident, called for “all hands on the deck” to serve its customers in handling clouds and responding to inquiries about what is going on.

During the session, Zhou revealed that the security violation witnessed that infiltrators move about 70 % of the ether for their customers, which means that bybit needs to secure a loan quickly to be able to treat withdrawals. However, Zhou found that Eter was not the most withdrawal symbol, as most users pulled Stablecoin from Bybit.

Zhou pointed out that the stock exchange has reserves to cover these withdrawals, but the crisis has deepened, in response to the accident, Amna moved to close the jobs of its smart wallet temporarily to ensure absolute confidence in our platform’s security.

Safe is a central nursery protocol that provides smart contracts portfolios for digital asset management. Some SAFE exchanges, which allow users to keep their money custody and have multiple jobs in enhancing the safety of their cold wallets.

While the Stock Exchange had reserves to support user withdrawals, 3 billion dollars in USDT were in a safe wallet that was just closed when the wallet moved to understand the situation, according to Zhu.

On social media, believed that although “he did not find evidence that the official safe facade had been at risk,” it was temporarily closing “certain functions” with caution.

While the Zhou and Bybit team discovered how to pull 3 billion dollars safely, the withdrawals were rising. Within two hours of security breach, the stock exchange faces requests to move more than $ 100,000 from its platform.

In response to the situation, Zhou told him that his security team was to engage in “finding a better way to get this money out.” The team ended with the development of a new program “based on ETHERSCAN” to verify signatures “at a very manual level” to transfer Stablecoins to its wallet and cover the clouds.

The Stock Exchange team had to remain awake all night to be able to meet withdrawal, according to ZHou. Since the stock exchange managed to transfer $ 3 billion in Stablecoin reserves, it faces a group of “about 50 %” of all funds on the stock exchange.

Zhou said that since the accident, the stock market has moved a large amount of money from the safe cold portfolio, and it now specifies the system that it will use to replace it.

Ethereum was not out of the table

Since the breach of security, the authorities participated. During the session, Zhou said that the Singaporean authorities took the case “seriously” and that he believed that he had already escalated with Interpol.

Blockchain analysis companies, including a series of analysis. “As long as there is a vick and continues to track [the stolen ether]I hope we can recover this money. “

It is worth noting that he revealed that the pressure on the “retreat” in Ethereum Blockchain, which some players in the industry proposed on social media, including the co -founder of Bitmex Arthur HayesThe table was on some time if the community agreed to it.

“I had a team speaking to Vitalik and Ethereum to see if there are any recommendations they could make for help. I really thank all these men for Twitter asking whether there is a possibility for the chain retreating. I am not sure of what was the response to their side, but anything that would have been It helps us, “Zhou said.

When asked if the series “Rolling Back” is possible, Zhou replied that he did not know. “I am not sure that he is the decision of one man depends on the spirit of Blockchain. He said,” Work should be in a process to know what society wants. “

It should be noted that the “Blockchain” indicates a state change that would allow money recovery. While the reto Blockchain is technically possible, this change in the situation on Ethereum will be more complicated, given the interactions of smart contract and architecture based on the state.

However, any change in the state requires consensus and probably leads to a difficult, controversial thorn, which leads to criticism from society. This is likely to be Divided Ethereum Blockchain to two networks, each of which has its supporters.

As for exactly the hacking caused, it is still unclear. For each Chu, the BYBIT laptops have not been hacked. He said that the signature movements of the transaction were examined, but it appears to be routine.

We know that the reason is definitely about a safe cold portfolio. Whether it is a problem with our laptops or on Safe, we don’t know. “

This story was originally appeared on Coindsk