Hypernative's real-time screening tool is now publicly available to assess whether a crypto address is related to the Bybit theft
The Bybit hack was not just one exchange’s problem—it was a call to action for the entire crypto industry. We have been coordinating with Bybit to share our real-time data tracking the stolen funds. Now, we are making our real-time screening tool freely available to the community.
This tool can be used by exchanges, payment processors, bridges, protocols, and other Web3 participants to help quarantine, delay or further inspect transactions that may be associated with the Bybit exploit. Just input an address and find out whether it is in any way connected to the Bybit theft. Automated integration is also available by APIs, enabling real-time addresses screening.
We’re making this tool freely available because stopping bad actors is a responsibility we all share. Crypto is a competitive industry like any other, but moments like this remind us why it’s special - we have the power to come together and make the entire Web3 ecosystem safer for everyone.
Andrey Dulkin
Chief Product Officer, Hypernative
On Feb. 21, about $1.5B was stolen when a Safe developer machine was compromised resulting in an attack that tricked multisig signers into authorizing a wallet implementation upgrade containing malicious code. Since then, the attackers have funneled the funds through a labyrinth of thousands of wallet addresses in an attempt to cover their tracks.
The hackers are taking advantage of a major flaw in traditional address screening tools—their databases do not update in real time. Hypernative Screener was built to solve this problem. It continuously monitors addresses for changes in reputation, interactions with other flagged parties and more, and updates instantly, detecting both direct and indirect (multi-hop) exposure to illicit activity across bridges and over 50+ chains.
The team has been working around the clock to deploy a publicly available version, specifically for the exploiter address tracing. By leveraging Hypernative's unique real time data, it levels the playing field against attackers that are creating thousands of addresses on the fly. All of the addresses that are linked to the hack are sent to Bybit for their review and integration into their system.
The tool is publicly available, both as a webpage and through an API:
https://www.hypernative.io/track-bybit-exploiter
Here is how it works:
As the industry still grapples with the fallout from the hack, we must also look ahead and find ways to prevent it from happening again. The attack made it clear that relying solely on multisig security and standard device security is not enough. The attackers successfully bypassed these measures by exploiting a fundamental weakness: the inability to verify the true intent of the transaction before it's signed.
Hypernative's approach to this challenge is to provide real-time, pre-transaction security, analyzing the true intent and impact of every transaction before it is executed, inspecting risks according to a user-defined granular policy.
Read more about how Hypernative could have prevented the Bybit hack: Bybit's $1.5B Hack: A Wake-Up Call for Crypto Security
Hypernative uses battle-tested, sophisticated machine learning models, heuristics, simulations, and graph-based detections to identify hacks, scams, fraud and other threats with high accuracy before the damage is already done. The system monitors security, technical, financial, governance and other risks. Hypernative detected 99.5% of hacks last year with less than 0.001% false positive rate and saved $2B of funds to date.
Over 200 Web3 projects already rely on Hypernative’s real-time enterprise-grade platform that monitors over $100B worth of digital assets across more than 50 chains. The list includes Balancer, Blockdaemon, Chainlink, Circle, Consensys, Ethena, ether.fi, Ethereum Foundation, Galaxy, Kraken, Linea, Quantstamp, Solana, Starknet, and Uniswap.
Reach out for a demo of Hypernative’s platform, tune into Hypernative’s blog and our social channels to keep up with the latest on cybersecurity in Web3.
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