Inside the Biggest Heist

This podcast episode investigates the $1.5 billion ByBit crypto exchange hack, potentially the largest heist in history, attributed to a North Korean state-sponsored group. The interview details the attack's technical aspects, focusing on how attackers manipulated ByBit's multisig wallet via a supply chain attack on the Safe web app, modifying its JavaScript code to redirect transactions. The discussion highlights the vulnerability of even hardware wallets when users don't independently verify transaction details and emphasizes the importance of robust security measures, including multi-factor authentication and thorough threat modeling. Specific advice includes verifying transaction hashes independently and diversifying funds across multiple wallets to mitigate risk. The episode concludes by discussing the challenges of laundering such a large sum and the ongoing efforts to track the stolen funds.