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Crypto exchange Bybit says a hacker took control of one of its cold Ethereum wallets, resulting in what analysts estimate was the loss of ~$1.5B worth of tokens (www.bloomberg.com)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 27 points 2 months ago (16 children)

How does one get ones hands on a cold wallet?

[–] [email protected] 29 points 2 months ago (2 children)

It's a common misconception that a "cold wallet" is offline. It's still on the blockchain like any other wallet, it's just the keys that aren't on any network-connected computer.

It appears that in this case hackers managed to trick Bybit employees into entering the keys into a fake UI that gave the hackers access to them.

[–] [email protected] 6 points 2 months ago

Tricked or “tricked”.

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