Ethereum multicing wallet provider Safe Wallet has announced that it will gradually restore its services with better security facilities within 24 hours.
It comes after a $ 1.4 billion bibet hack, which exploited a masked URL and contract logic manipulation to dry the exchange’s cold wallet. On 1 February 24X post, Safe confirmed that it would resume the phased rollout while putting in additional safety measures.
To promote its safety facilities, safe strict verification measures, increased monitoring warnings and more security checks are presenting. The purpose of these updates is to prevent similar exploits in the future, even if they can give results in some extent in transactions. Users have been warned in search of transactions data before signing by the team.
Safe had earlier confirmed that while the end of it was not compromised, it was taking additional precautions. The wallet temporarily stopped certain functionalities, including indigenous laser integration, as the signature method compromised in the bibet attack included a laser device.
After hack, Major blockchain institutions have worked together to respond to the attack. Bybit revealed on 23 February that $ 42.89 million was frozen. Tedhar, Thorchen, Changeo, Fixedflot, Avilchal, Koinex, Bittet, and Circle all played a role in identifying and blocking the blacklisted addresses, assisting the stolen property to track the wealth, and the attacker’s movements.
A reward of 10%of the recovered assets, or a reward of $ 140 million, is being offered by bibit to security professionals and moral hackers that help recover stolen coins. The exchange has confirmed that deposits and withdrawal are now completely on, as verified by on-chant data.
