Today we're discussing the $1.5B Bybit hack and diving deep onchain.

 In this episode we're discussing:

• Cryptos history of hacks
• Exchange hack mechanics 
• Solving hardware wallets/Safe UI
• Multisig partners verification processes
• Bybit outflows
• Bybit comms response strategy
• DeFi/Ethena impact
• Oracle execution 
• Bybit’s crisis response 
• Tracing the hackers
• Valuable insights from the hack

And much more—enjoy!
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 This is a developing news story, here are relevant links to updates:

1. https://x.com/benbybit/status/1894768736084885929
2. https://x.com/pcaversaccio/status/1894773709996724403

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Timestamps:

(00:00) Introduction

(05:51) Hack size comparisons

(07:53) Exchange hack mechanics 

(16:34) Solving hardware wallets/Safe UI

(20:45) Multisig partners verification processes

(22:55) Bybit outflows

(28:29) Bybit comms response strategy

(29:39) DeFi/Ethena impact

(36:03) Oracle execution 

(40:52) Bybit’s crisis response 

(42:27) Tracing the hackers

(48:50) Valuable insights from the hack

(50:01) Ethereum rollback? 

(56:57) ETH quick takes 

(58:57) Outro

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Follow the co-hosts:

https://x.com/hildobby_

https://x.com/0xBoxer

https://x.com/sui414

Follow the Indexed Podcast:

https://twitter.com/indexed_pod

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The Indexed Podcast discusses hot topics, trendy metrics and chart crimes in the crypto industry every 1st and 3rd Thursday of the month, brought to you by wizards @hildobby_ @0xBoxer @sui414.

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DISCLAIMER: All information presented here should not be relied upon as legal, financial, investment, tax or even life advice. The views expressed in the podcast are not representative of hosts' employers views. We are acting independently of our respective professional roles.