$2B Vanished: Multisig Failures Fuel Web3’s Bloodiest H1 Hack Spree

Web3's security crisis hits a grim milestone—multisig vulnerabilities just handed hackers a $2 billion payday in six months. Here's how the cracks in crypto's armor became gaping holes.

The multisig meltdown

What was supposed to be crypto's Fort Knox turned into its Achilles' heel. Institutional-grade security protocols got picked apart like cheap locks—while VCs were busy writing 'WAGMI' in their pitch decks.

Anatomy of a heist

Attack vectors shifted from brute force to surgical strikes. Hackers didn't break the vaults—they cloned the keys, bypassed quorum checks, and walked out the front door with nine-figure bags.

The compliance paradox

Regulators demand more safeguards, teams implement complex multisigs, and hackers laugh all the way to the (unfrozen) bank. The 'not your keys' crowd never imagined they'd lose them this way.

As the dust settles, one truth emerges: Crypto's security stack needs rebuilding—and this time, maybe skip the 'trustless' systems that keep failing those who trust them. (But hey, at least the exploit transactions paid record gas fees.)