According to a study conducted by Chainalysis, wrongdoers have stolen approximately $1.4 billion worth of digital assets between January 2022 and now. Targeting cryptocurrency bridges seems to have been a preferred method. Some examples of such attacks in 2022 include the exploit of the Horizon bridge, the $190 million breach on Nomad Bridge, and one...Read More
Leading cryptocurrency exchange Binance has helped recover crypto assets worth about $450,000 stolen from Curve Finance users. The funds represent about 83% of the total amount stolen from users. Binance CEO Changpeng Zhao shared the update on Twitter today, noting that the Curve Finance hacker sent the assets to Binance using different techniques to bypass...Read More
Solana mobile wallet provider Slope Finance, said to be responsible for the recent multi-million dollar incident, has admitted to a security vulnerability while adding that there is no evidence linking the security flaw to the hack. This is despite the fact that Solana Labs researchers have fingered the wallet provider’s security lapses as the cause...Read More
DeFi liquidity pool giant Curve.Finance has suffered an exploit after malicious hackers attacked its front end, stealing cryptocurrency worth around $570,000. Paradigm security researcher “samczsun” alerted the community about Curve’s frontend compromise on Tuesday (August 9, 2022), warning people not to engage the protocol until further notice. 🚨🚨🚨@CurveFinance frontend is compromised, do not use it...Read More
Over the past few days, Solana users have suffered attacks by bad actors with several million dollars worth of crypto being stolen by unknown bad actors. At the moment, wallets are still being drained, albeit at a slower rate. Solana’s security team has spent its time looking for the breach point, and it seems the...Read More
ZB.com seems to be the latest victim in a series of latest hack incidents, with potential hackers reportedly draining around $4.8 million from the cryptocurrency exchange’s hot wallet. The platform, which claims to be the most secure digital asset exchange in the world, was formerly based in China before relocating and setting up operations in...Read More
Nomad exploit was one of the biggest cryptocurrency hacks in history. As a result, over $190 million worth of funds were drained. It was branded as “one of the most chaotic hacks that Web3 has ever seen.” PeckShield has detected the recovery of $9 million in different crypto-assets to the cross-chain bridge. As per the...Read More
The hackers have targetted Solana users with millions of funds being drained from thousands of wallets. On-chain data shows that, so far, the losses have been estimated to be around $8 million from over 7,000 compromised wallets. This number has been rising at around 20 per minute, according to Ava Labs CEO and founder Emin...Read More
Due to a longstanding embargo on the North Korean regime, local authorities have made headlines countless times for unusual – and often illegal – ways to gather funds. From hacking regular banks to farming in-game currencies via botting, the methods range from essentially harmless to downright threats to national security. Crypto Markets Targeted In Full...Read More
In the early hours of August 2, Nomad bridge posted an alert that it was aware of an ongoing exploit. In the following hours, the entire protocol’s funds of more than $190 million were drained. Crypto community developer and white hat ‘samczsun’ broke down the chain of events, explaining what happened. He labeled the attack...Read More
Trung Nguyen – Co-Founder and CEO of Axie Infinity – said the accusations against him of being engaged in insider trading are “baseless and false.” However, he admitted transferring $3 million worth of AXS to “ensure that short-sellers would not be able to front-run the news.” The CEO Strikes Back In March this year, Ronin...Read More
Following the recent attack on the Ronin Network, a new revelation showed that the co-founder and CEO of the video game Axie Infinity, Trung Nguyen, moved AXS – the native token of Axie Infinity – worth $3 million to crypto exchange giant Binance, hours before announcing the hacking incident. According to Bloomberg on Thursday (July...Read More
Solana-based decentralized finance yield protocol, Nirvana, is the latest victim of a flash loan attack in the cryptocurrency space. Data from blockchain security firm, PeckShield, revealed that the attacker managed to drain nearly $3.5 million worth of funds from the protocol. It all started when the entity behind the exploit used a $10 million flash...Read More
The US Justice Department has seized roughly $500,000 in digital payments and cryptocurrency from ransomware attacks launched by North Korean hackers. Deputy Attorney General Lisa Monaco said that US authorities have begun returning funds to relevant victims. The North Korean hackers attacked health care organizations in Kansas and Colorado last year by encrypting their computer...Read More
Web 3 security firm Beosin recently released its 2022 Q2 Web 3 Security Report, analyzing the latest hacks and exploits to impact the blockchain sphere. It found that over $718 Million were lost to related schemes during that time – most of which occurred in the defi space. Breaking Down the Numbers The report –...Read More
OMNI – an NFT finance platform that lends out cryptocurrency in exchange for staked NFTs – fell victim to a re-entrancy exploit that led to the loss of nearly 1,300 ETH, worth $1.4 million at the time. It seems a reentrancy-related hack. @ParallelFi @OMNI_xyz The stolen funds were just mixed via @TornadoCash https://t.co/Nyunlkk3rr pic.twitter.com/XxxVyX80Fq —...Read More
British multinational jeweler Graff Diamonds Corp. has filed a lawsuit against its insurer, The Travelers Companies, Inc. (Travelers), for failing to provide indemnity after it paid $7.5 million in Bitcoin to ransomware hackers. Graff Sues Insurer Over $7.5M BTC Ransom Loss According to a Bloomberg report on Wednesday, Graff’s security systems were exploited by the...Read More
According to Coincub, the country has over 15 documented instances of crypto crime, with proceeds conservatively estimated at $1.59 billion. The other top four countries closely following the hermit kingdom are the US, Russia, China, and the UK. North Korea Reigns Supreme Even though the true extent of North Korea’s contribution to global crypto crime...Read More
Quixotic – an NFT marketplace that runs on Optimism – revealed that wrongdoers breached its security and drained ERC-20 tokens. The organization assured that users with stolen assets will be reimbursed. The Latest Attack In a recent tweet, Quixotic disclosed that criminals attacked its “Offer” feature and stole ERC-20 tokens. The team advised its customers...Read More
The notorious North Korean hacking group – the Lazarus Group – is suspected to be the one that attacked the cryptocurrency protocol Harmony. The criminal organization has been involved in numerous similar heists throughout the recent years. The Lazarus Group’s Next Victim Last week, Harmony revealed that wrongdoers breached its Horizon Bridge and drained approximately...Read More
According to researchers, the deepening crypto winter poses a threat to a vital source of funding for Pyongyang’s weapons programs. It is not clear how much crypto the North Korean regime has stashed away over the year, but it is likely to be substantial. A 70% slump in crypto markets since November will have eroded...Read More
In a quick-paced development, XCarnival, describing itself as a Metaverse Asset Bank, lost over 3,087 ETH to a hacker and negotiated the return of half of the funds less than 24 hours after the incident. Exploiting a flaw in its smart contract, the attacker used a Bored Ape Yacht Club NFT, which was already withdrawn...Read More
Ronin Network, an EVM blockchain powering popular play-to-earn game Axie Infinity, has announced the reopening date for its bridge three months after it was exploited by the infamous North Korean cybercrime gang “The Lazarus Group.” Ronin Bridge to Reopen on June 28 Announcing the restart date on Twitter, the project said its engineering team has...Read More
The hacker that stole 20 million OP tokens from Optimism has now returned the vast majority of his ill-begotten funds. Public blockchain data shows that he’s made 17 transfers of 1 million OP each to the Optimism contract address. According to Etherscan, all 17 transfers of OP were made in short order. The first was...Read More
Blockchain data shows that the recent, unintended recipient of 20 million OP tokens from Optimism has sent 1 million of those tokens to Ethereum co-founder Vitalik Buterin. According to Blockchain security firm PeckShield, the exploiter’s network address sent 1,000,000 OP to an address previously established as belonging to Vitalik. The funds are worth about $874,000...Read More
Cosmos-based DeFi protocol, Osmosis Network, was halted at block #4713064 on June 8th after spotting a critical vulnerability in its liquidity pools. The exploit took place just two blocks before the halt. The attack was first reported by a Reddit user who warned if a customer deposits funds to an Osmosis pool would gain an...Read More
Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, the self-claimed infamous “Crocodile of Wall Street” couple, were charged with trying to launder funds taken in a massive hack of cryptocurrency exchange Bitfinex in 2016. According to the latest development, though, the two are still negotiating a possible plea deal. Lichtenstein and Morgan were due...Read More
As part of yet another phishing attack, the Twitter account of prominent digital artist Mike Winkelmann, also known as Beeple, was hacked to promote a crypto scam. “Stay safe out there, anything too good to be true IS A F***ING SCAM,” tweeted the artist after regaining his account. The hacked account featured a phishing link...Read More
Blockchain analyst firm Chainalysis published a new report focused on the illicit activities occurring on blockchains, noting that DeFi protocols are the most popular target hackers tend to go after and that money laundering in the space has risen in the past two years. DeFi as Hackers’ Primary Target Since the DeFi Boom occurred in...Read More
Bored Ape Yacht Club (BAYC) confirmed over Twitter on Monday that its Instagram account was hacked. A scam link posted by the hacker appears to have resulted in multiple valuable NFTs being stolen from victims. The link, which has since been taken down, led to a page claiming to be sponsored by Yuga Labs. It...Read More
