Bybit recently announced to the community regarding the ongoing forensic investigation related to the recent security breach incident. Initial findings have proven the integrity of Bybit and presented an analysis of the characteristics of the hack.
In a written statement on Friday (2/27/2025), the forensic study by Lazarus Group on the hacking incident revealed that the developer credentials of Safe had been compromised. As a result, hackers gained illegal access to the Safe infrastructure (Wallet) and deceived signers to approve dangerous transactions.
Bybit has also engaged third-party forensic experts, including Verichains and Sygnia Labs, to conduct independent analyses. Both forensic experts found no indications of disruption in the Bybit infrastructure. This was also confirmed by the statement issued by SAFE.
After the incident, Bybit has transferred the majority of funds from the Safe Wallet. This measure was taken by Bybit to prioritize user security. Bybit is actively evaluating alternative electronic wallet solutions for custodians that meet the highest security standards.
Bybit remains 100% safe and secure. Bybit’s forensic experts have initially assessed that the Bybit infrastructure was not affected. Bybit will continue to enhance security protocols and collaborate with top security experts to uphold the commitment to protect user security.
Co-founder & CEO of Bybit, Ben Zhou, stated that Bybit is always committed to maintaining security and transparency. The initial forensic study assessed that our system was not impacted.
“This incident highlights the evolving threats in the crypto sector. Therefore, we are actively taking steps to strengthen security systems and provide the best protection for users,” he said.
