Safe Established Safe Labs to Counter Bybit Attack and Reshape Institutional Development Strategy

$Safe announced the establishment of a new development entity, $Safe Labs, to integrate technical operations, revamp the product roadmap, and address the security challenges exposed following the Bybit hack incident related to North Korea in February this year. Although $Safe's core contracts were unaffected, its front-end application was compromised. $Safe Labs will operate as the development division under the $Safe Foundation, replacing the previous outsourced development model, aiming to meet the security and usability needs of both the crypto-native community and institutional users. (CoinDesk)