OneKey founder Yishi said IBIT it may have become a potential target of North Korean hackers

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OneKey Founder: BlackRock Suspected IBIT May Have Been Added to the North Korean Hacker Target List; Large Amounts of Bitcoin Concentrated with a Single Custodian Are Difficult to Defend Against Risks

BlockBeats reports that October 30, OneKey founder Yishi posted on social media that he suspected BlackRock's spot Bitcoin ETF——IBIT may have been added to North Korea's attack target list.

Yishi said that previously,Bybit the attackers behind the hack used a malicious project disguised as a legitimate Docker-related tool to compromise the Mac computer of a Safe{Wallet} developer. They had remained hidden for 17 days before carrying out the theft, giving them ample time to manipulate the transaction interface used by Bybit signers. The signers thought they were approving a legitimate transaction. However, without realizing it, they authorized the theft of 1500000000 USD from the cold wallet. Even if the private keys remain offline, signers may still approve a theft through a compromised interface.

BlackRock's IBIT is the world's largest Bitcoin ETF, holding approximately 815000 units BTC, valued at approximately 63000000000 USD。Coinbase Concentrating such a massive amount of Bitcoin with a single custodian is extremely rare. Regardless of how large or well-capitalized the provider is, a serious failure in its security infrastructure could put the entire fund at risk. A

theft would wipe out 6000000000 USD approximately IBIT of the assets, equivalent to a loss of approximately 9.5%in assets, based on the current valuation, equivalent to an approximate loss per share of 4 USD。

Binance extremely difficult to recover. BlackRock has not separately insured the Bitcoin held by the fund.BTC extremely difficult to recover. BlackRock did not separately insure the Bitcoin held by the fund.Coinbase in commercial crime insurance coverage, shared among its customers. Its custody agreement also sets a liability cap of 320000000 USD in commercial crime insurance coverage, shared among its clients. Its custody agreement also stipulates that the liability limit for each cold-storage address is 100000000 USD shareholders.IBIT borne by shareholders.

ETFs have made holding Bitcoin much easier, and this convenience has tangible value. However, as more capital flows into these products, massive amounts of Bitcoin are also being concentrated among a small number of custodians and the infrastructure on which they depend. The larger these pools of funds become, the more attractive they are to attackers. If any critical node is compromised, the consequences could extend far beyond a single institution.ETF Original link

Key points

October 30 had been added to North Korea's attack target list.ETF IBIT has been included on North Korea's list of attack targets.
days. 17 days.
from a cold wallet through a compromised transaction interface. 1500000000 USD The article said
held approximately IBIT holds approximately 815000 units BTC, valued at approximately 63000000000 USD The article estimated that
theft would wipe out
approximately 6000000000 USD of the assets, equivalent at current valuations to a loss of approximately IBIT per share. 9.5%in assets, equivalent to an approximate loss per share of 4 USD。
commercial crime insurance coverage is shared among its customers. 320000000 USD Commercial crime insurance coverage is shared among clients.
liability cap for each cold-storage address, and that recovery is also subject to contractual terms, determinations of liability, and other conditions. 100000000 USD Yishi speculated that

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This content mainly discusses ETF the custodial security behind it, rather than the Bitcoin network itself. After investors purchase it,IBIT the Bitcoin held by the fund must be safeguarded by a custodian. Yishi believes that concentrating assets in a small number of custodians and their operational interfaces creates high-value attack targets; even if private keys are kept offline, personnel may still be misled by compromised interfaces into approving malicious transactions. However, “IBIT has been included on a target list” is only his suspicion; the original text provides no evidence such as a list, attack records, or anomalous fund movements.

Why it matters to readers

shareholders.IBIT Custodian

Beginners should distinguish between Bitcoin network risks and ETF custodial risks. Purchasing Bitcoin ETF may be more convenient, but investors should still consider the custodian, insurance coverage, liability caps, and whether decentralized custody is used, and should not treat an unsubstantiated assessment of an attack as a security incident that has already occurred.

Risks and unknowns

There is no evidence confirming that IBIT has been included on any attack target list.
There is no evidence showing that IBIT, BlackRock, or Coinbase has suffered a related intrusion or anomalous Bitcoin transfers.
The article provides no independently verifiable material for its claims regarding North Korea, the attackers in the Bybit incident, and the attack process.

OneKey founder Yishi said IBIT it may have become a potential target of North Korean hackers

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