How they compromised the Bybit ETH wallet

app.safe.global

• The hackers meddled with a computer that had the ability to change the smart contract logic at the above website.

After the 3 ByBit execs signed, instead of writing to their usual SAFE.GLOBAL smart contract, the hackers told APP.SAFE.GLOBAL to write to their own MALICIOUS contract. This malicious contract conducted a sweep function of the ByBit wallet there by transferring all its contents to an address controlled by the hackers.

The 3 ByBit signers should have signed after verifying input data of the transaction and confirming the contracts to which they will write to. This input data information is available for free on etherscan and the proper training should have been provided to them.

Ultimately these 3 execs approved a sweep of the Bybit wallet and placed too much TRUST in a third party provider rather than having their own multi sig infrastructure built.