Bybit Hack : Safe Finds No Evidence of any Frontend Exploit

After the recent $1.4 billion Bybit hack, smart account infrastructure provider Safe, has reported that there is no evidence of a frontend vulnerability being exploited in the attack.

However, as a precautionary measure, Safe has temporarily suspended certain functionalities to protect users.

The breach occurred a few hours ago on Bybit, a cryptocurrency exchange, which reported that hackers accessed one of their Ethereum (ETH) cold wallets, resulting in the theft of approximately 514,000 ETH, valued at around $1.429 billion.

Bybit has assured users that customer funds remain secure and that platform operations are unaffected. The exchange is working with blockchain forensic experts to track the stolen assets and prevent further security risks.

Both Bybit and Safe have emphasized their commitment to user safety and will provide ongoing updates as the investigation progresses.

Safe (formerly Gnosis Safe) is a smart contract wallet on Ethereum and EVM chains, offering secure asset management with multisig security, role-based access, and automation.

Also Read: Bybit Hack: Fear Sparks Ethereum Sell-Off, Volume Surges 60%