🔒💰 A simple solution that could save crypto from Lazarus group attacks
In the last 18 months, the North Korean Lazarus group has managed to steal more than $1.75 billion through the same method of "Hijacked Multisig wallets", a figure that exceeds all other losses in the market during the same period.
The idea is simple: several members of any crypto company's team are deceived into signing malicious transactions that appear to be normal transactions. The result? Complete control over the company's funds and immediate withdrawal.
WazirX lost $230 million.
Radiant Capital protocol lost $50 million.
The largest theft in history: ByBit lost $1.5 billion last February.
👨💻 Security researcher Daniel Von Fange proposed a very simple solution:
Adding an additional verification step (Undo Button) between signing and executing the transaction, allowing for the cancellation of any suspicious transaction before it is executed.
⚠️ If this solution is widely implemented, it could protect the sector from billions in upcoming losses.
Do you expect that the big teams in crypto will actually start experimenting with this solution? 🤔