Cross-chain trading protocol Chainflip implemented rapid security measures to shield its ecosystem against funds from the $1.5 Billion Bybit hack.
This security upgrade seeks to complete all Bybit exploit transactions while protecting liquidity providers from receiving stolen assets.
The February 21 hack which became the biggest in crypto history caused hackers to remove 400 thousand Ethereum (ETH) from Bybit’s reserves. The hackers used a fake email to fool executives into permitting an unethical smart contract.
The stolen funds tracing and misuse prevention process was conducted with blockchain security firms that Bybit worked with after the incident.
Chainflip detected an attempt to wash stolen funds on February 22nd. When the attackers attempted unauthorized transactions, the protocol immediately closed access to its main interface swap.chainflip.io.
A short-term operational change worked together with extended security improvements to stop illegal money transfers fr
We współpracy z: https://www.thecoinrepublic.com/2025/02/26/chainflip-tightens-security-after-bybit-hack-introduces-illicit-transaction-screening/
