"Crypto prices tumbled this morning - most notably BTC and ETH - on reports that cryptocurrency exchange Bybit has reportedly been hacked for over $1.4 billion in liquid-staked Ether and MegaETH (mETH)."
Title is the top comment, that's probably not as funny to cryptographers. Aren't the "cold wallets" touted as being secure?
Who is saying cold wallets are "secure"? They are only as secure as the OPSEC of the persons who have the keys. It's not a matter of the cold wallets being secure, because, well, it's a fool's errand to try and brute force the matter. But, if you know who has the keys, opening the wallet is as easy as swinging a crowbar at a kneecap. https://xkcd.com/538/
[ + ] FacelessOne
[ - ] FacelessOne 3 points 2 monthsFeb 21, 2025 13:56:19 ago (+3/-0)
[ + ] Master_Foo
[ - ] Master_Foo 0 points 2 monthsFeb 21, 2025 15:31:27 ago (+0/-0)
They are only as secure as the OPSEC of the persons who have the keys.
It's not a matter of the cold wallets being secure, because, well, it's a fool's errand to try and brute force the matter.
But, if you know who has the keys, opening the wallet is as easy as swinging a crowbar at a kneecap.
https://xkcd.com/538/