Binance’s CZ Criticizes Safe’s Bybit Hack Report as ZenGo Expands TRX Wallet Features

The recent Bybit hack, a massive $1.46 billion loss, has created a face-off over multisig wallet security. As if to contrast the cold wallet story, ZenGo, a different crypto wallet provider, released new features to their wallet storage.

Binance co-founder Changpeng Zhao (CZ) has publicly taken on Safe{Wallet}’s investigation of the Bybit incident, sharply questioning the lack of clear answers in their audit report.

CZ Challenges Safe{Wallet} Audit Clarity

He raised concerns over the attack’s nature, the hacker’s ability to access Bybit’s account, and potential flaws in the Ledger verification process. The audit attributed the breach to a compromised developer device at Safe{Wallet}, but CZ argued that the explanation left more questions than answers.

CZ expressed dissatisfaction with Safe{Wallet}’s findings, implying they opted for vague language instead of straightforward details. His questions centered around whether the attack was due to malware or social engineering tactics.

Unanswered Questions on Wallet Access and Security

Crucially, he pushed for specifics on how the compromised developer machine gained entry to Bybit’s wallet. Another key point of contention was whether the hackers exploited blind signatures during the Ledger verification process, a well-known crypto security vulnerability.

Beyond the technical aspects, CZ also inquired why the hackers targeted a specific wallet holding $1.46 billion instead of other funds managed by Safe{Wallet}. This raises speculation about insider knowledge of the wallet’s contents. Additionally, his critique emphasized the urgent need for self-custody wallet providers to learn from this breach and strengthen security protocols.

Safe{Wallet} Stands Firm on Audit, Names Lazarus Group

Safe{Wallet} stood its ground, defending its audit and asserting that forensic investigations pointed to a targeted attack by the Lazarus Group.

Their report indicates a compromised developer machine enabled hackers to submit a disguised malicious transaction. However, this explanation has done little to ease concerns among the crypto community.

ZenGo Expands TRX Wallet Features During Security Debate

In a contrasting development, as security dominated industry discussions, crypto adoption has been on the rise.

ZenGo, a cryptocurrency wallet provider, announced support for the TRON (TRX) network. This integration allows users to manage TRX – storing, buying, sending, receiving, and swapping – directly within the ZenGo platform.

Related: Crypto Crash 2.0 Fears? Bybit Hack, Bitcoin Plunge Echo Terra/Luna Disaster

Adding value for users, ZenGo has included additional features like real-time portfolio tracking and multiple payment options for purchasing TRX, including credit cards, bank transfers, and digital wallets.

This expansion reflects a growing industry trend towards crypto wallets that are both secure and user-centric.