EPISODE · Feb 27, 2025 · 59 MIN
The $1.5B Bybit Hack, Crypto’s Largest Hack Ever
from Indexed Podcast · host Indexed Podcast
Today we're discussing the $1.5B Bybit hack and diving deep onchain. In this episode we're discussing:Cryptos history of hacksExchange hack mechanics Solving hardware wallets/Safe UIMultisig partners verification processesBybit outflowsBybit comms response strategyDeFi/Ethena impactOracle execution Bybit’s crisis response Tracing the hackersValuable insights from the hackAnd much more—enjoy! — This is a developing news story, here are relevant links to updates:https://x.com/benbybit/status/1894768736084885929https://x.com/pcaversaccio/status/1894773709996724403—Timestamps:(00:00) Introduction(05:51) Hack size comparisons(07:53) Exchange hack mechanics (16:34) Solving hardware wallets/Safe UI(20:45) Multisig partners verification processes(22:55) Bybit outflows(28:29) Bybit comms response strategy(29:39) DeFi/Ethena impact(36:03) Oracle execution (40:52) Bybit’s crisis response (42:27) Tracing the hackers(48:50) Valuable insights from the hack(50:01) Ethereum rollback? (56:57) ETH quick takes (58:57) Outro—Follow the co-hosts:https://x.com/hildobby_https://x.com/0xBoxerhttps://x.com/sui414Follow the Indexed Podcast:https://twitter.com/indexed_pod—The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby_ @0xBoxer @sui414.Subscribe/follow the show and leave a comment to help us grow the show!—DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.
What this episode covers
Today we're discussing the $1.5B Bybit hack and diving deep onchain. In this episode we're discussing:Cryptos history of hacksExchange hack mechanics Solving hardware wallets/Safe UIMultisig partners verification processesBybit outflowsBybit comms response strategyDeFi/Ethena impactOracle execution Bybit’s crisis response Tracing the hackersValuable insights from the hackAnd much more—enjoy! — This is a developing news story, here are relevant links to updates:https://x.com/benbybit/status/1894768736084885929https://x.com/pcaversaccio/status/1894773709996724403—Timestamps:(00:00) Introduction(05:51) Hack size comparisons(07:53) Exchange hack mechanics (16:34) Solving hardware wallets/Safe UI(20:45) Multisig partners verification processes(22:55) Bybit outflows(28:29) Bybit comms response strategy(29:39) DeFi/Ethena impact(36:03) Oracle execution (40:52) Bybit’s crisis response (42:27) Tracing the hackers(48:50) Valuable insights from the hack(50:01) Ethereum rollback? (56:57) ETH quick takes (58:57) Outro—Follow the co-hosts:https://x.com/hildobby_https://x.com/0xBoxerhttps://x.com/sui414Follow the Indexed Podcast:https://twitter.com/indexed_pod—The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby_ @0xBoxer @sui414.Subscribe/follow the show and leave a comment to help us grow the show!—DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.
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The $1.5B Bybit Hack, Crypto’s Largest Hack Ever
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