The Bybit hack demonstrated that even the best technical defenses are no match for state-based actors unless they are combined with an operational security stance that covers all attack vectors
DMM Bitcoin, WazirX, Radiant Capital, and now Bybit -- the biggest crypto hacks in recent history have something in common. In each case, highly-competent teams armed with top-class technical defenses faced off against a state-based actor and lost billions. It is a bitter lesson in operational security that everyone in crypto should take to heart.
In each of these incidents, North Korean hackers did not exploit security vulnerabilities like zero-day flaws or smart contract code bugs. Instead, they took advantage of operational weaknesses -- stolen multisig private keys, front-end spoofing, and compromised third-party infrastructure. However, the real key to their success lies in their ability to infiltrate target organizations over time—patiently and methodically embedding themselves until they gain the access needed to execute a heist. Simply put, they have repeatedly bested their target's operational security.
In artificial intelligence, "the bitter lesson" teaches us that human intuition and domain-specific expertise matter far less than we once believed. The real winning formula for building powerful AI models remains data + algorithms + compute + talent—but success increasingly comes from stacking GPUs and stepping aside to let the machines do their job.
The inverse is true for Web3 security. There are diminishing returns to piling on more tech because no hardware wallet, multisig, or security measure is infallible. The real formula for robust security is security-minded teams * (resilient infrastructure + continuous monitoring). Success comes from an uncompromising focus on operational security, where every access point is treated as a potential vulnerability. In the end, the human element remains both the greatest weakness and the last line of defense.
Operational security (OpSec) in crypto extends beyond smart contract audits and technical defenses. It is about securing the entire ecosystem—from how teams interact with their tools to how funds are managed and how threats are detected in real-time. Crypto projects must adopt a proactive approach to identifying and mitigating threats across multiple attack surfaces.
Rome was not built as a 20% project, nor can you put together solid security overnight. But you can start right now.
Bybit’s critical vulnerability was in relying solely on multisig and standard device security. 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. Using "gateways" to Web3, which in Bybit's case was Safe's UI, instead of verifying things onchain was the difference between a peaceful Friday night and a record-setting hack.
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 60 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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