PANews reported on February 27 that according to ICP founder Dominic Williams, a North Korean hacker group recently successfully stole $1.5 billion from Bybit, mainly by exploiting a web-based vulnerability in Safe{Wallet}, an interface hosted in the cloud rather than on a smart contract.

Williams criticized some Web3 projects for running only on "fake onchain", which leads to security risks, and suggested using ICP (Internet Computer) for on-chain computing, data storage and user experience verification to improve security. He proposed that Safe{Wallet} be migrated to ICP and adopt encryption authentication mechanism and multi-party consensus governance (such as SNS DAO) to enhance security.

Related reading: Is Safe Wallet Not Safe? A Quick Look at the Bybit Forensic Investigation Report