I N D U S T R Y O U T L O O K
I N D U S T R Y O U T L O O K
According to Check Point, the JavaScript manipulation modified transaction data behind the scenes:
• When Bybit signers accessed the interface, the code identified target addresses
• It silently modified critical transaction parameters including recipient address and operation type
• It preserved the appearance of legitimacy by displaying the original transaction details to signers
This finding confirms this attack sets a new precedent in crypto security by bypassing a multisig cold wallet through sophisticated user interface manipulation, further proving that multisigs and cold wallets are not automatically secure when the interface layer can be compromised.
Attackers used social engineering and user interface deception to carefully manipulate human behaviour. The presence of human error compromises even the most robust systems.
This event highlights the pressing need for more robust security models, specifically in how transactions are authenticated and how signers verify transactions. The increasing complexity of user interface-based attacks necessitates a change of strategy, moving beyond traditional cryptographic security toward comprehensive risk mitigation.
Oded Vanunu, Chief Technologist and Head of Product Vulnerability Research, Check Point
Gold standard for crypto assets
For years, multisig wallets and cold storage have been considered the gold standard for securing crypto assets. But this breach shattered that assumption, revealing three major weaknesses:
• Multisig is not infallible, if signers can be deceived, multiple approvals do not guarantee safety.
• Cold wallets are not immune, an attacker does not need to breach the storage itself if they can manipulate what a signer sees.
• Supply chain and user interfacebased attacks are evolving rapidly, making them difficult to detect with traditional security measures.
With this shift in attack strategies, crypto institutions, exchanges and custodians must rethink how they authenticate and verify transactions.
Here is what needs to change
Given the increasing complexity of attacks, securing digital assets requires a multilayered approach that goes beyond cryptographic security.
Real-time threat monitoring
• A prevention-first approach, securing every step of a transaction
• Developing advanced anomaly detection systems that can flag unusual transaction patterns.
• Leveraging AI and behavioural analysis to detect and prevent social engineering attempts.
Human-centric security measures
• Educating users and institutional signers on user interface-based manipulation techniques.
• Implementing multi-factor verification processes that include independent transaction confirmation.
42 www. intelligentfin. tech