Revealing the Bybit Hacker Invasion: Cold Money Package Vulnerabilities and Smart Contract Risk Analysis

The recent incident of Bybit funds stolen has attracted widespread attention from the industry. Hackers stole a large number of Ethereum assets by manipulating cold money packages and smart contract vulnerabilities. This incident not only exposed the security vulnerabilities of some exchanges in the storage and trading processes, but also reflected the risks faced by the overall crypto ecosystem. As a centralized storage and circulation platform for digital assets, the security of the exchange is directly related to user asset security and market confidence.

Revealing the Bybit Hacker Invasion: Cold Wallet Vulnerabilities and Smart Contract Risk Analysis

Analysis of Hacker Attack Methods

Bybit This time Hacker invasions are mainly concentrated in two major directions: cold wallet management errors and smart contract signature logic vulnerabilities. The attacker used the "cover signature interface" technology to induce the system to perform transfer operations without notice, thereby transferring assets in the cold money packet to unknown addresses.

Analysis of cold wallet vulnerability

• Storage method problem: Although cold wallets are usually offline, if operated through online devices during cross-border transfer, hackers can intercept or tamper with the hacker through intercept or tampering during cross-border transfer. Data gains control.
• Flaws in the signature process: If the money package software fails to strictly verify the integrity of the transaction signature, the hacker can use technical means to modify the transaction data.

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Smart Contract risk analysis

Contract logic is not rigorous: Improperly designed contracts may have exploitable vulnerabilities, such as the signature interface is not bound to fixed parameters, allowing modification of the underlying logic while displaying the correct address.

Code defects and insufficient auditing: Under-audited contracts may hide deep vulnerabilities. Hackers use automated tools to scan public contracts to find potential weaknesses to attack.

• Protection strategy

Cold wallet

Use physical isolation equipment for offline signature;

1. Add multi-factor verification of operational links , ensure that the transaction initiation and confirmation process is not tampered with.
   • In terms of smart contracts
   Use formal verification tools to prove the contract logic before deployment;
2. Implement the white hat hacker plan and invite security research Personnel discover and report potential vulnerabilities;
   • Contracts are continuously monitored after deployment, and once abnormalities are found, they will be taken immediately to freeze.

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