THORChain is the latest DeFi project to be exploited, with estimations showing that the hackers might have swooped up to $7.6 million in digital assets. The team behind the decentralized exchange promised to make whole all affected users and requested the perpetrators to contact them to discuss the return of funds. THORChain highlighted the hack...Read More
The U.S. department of the world’s largest meat producer, JBS S.A., has paid its ransomware hackers $11 million in bitcoin. This comes amid warnings worldwide regarding the growing threat of such attacks and the involvement of cryptocurrencies. JBS Pays $11M in BTC to Cybercriminals JBS USA Holdings is an American food processing company operating under...Read More
The United States Department of Justice said that it recovered over $2 million worth of bitcoin, which was the majority of the ransom paid by the U.S. oil pipeline giant Colonial Pipeline to cybercriminal group DarkSide. DoJ Recovers 63.7 BTC The DoJ made the announcement in a press release on Monday (June 7, 2021). According...Read More
Two senators on the Intelligence Committee suggested over the weekend that lawmakers should take increased measures to regulate and trace cryptocurrencies. The recommendations come after a second major ransomware attack within a month that has demanded payments in digital currencies. According to Forbes, Senator Roy Blunt unleashed a tirade on cryptocurrencies and the anonymity they...Read More
The Biden administration plans to enhance cryptocurrency tracking as part of macro endeavors to reduce the pain from ransomware attacks, said the Deputy Press Secretary. The government’s actions come amid several consecutive hacks on US soil. What is Ransomware and US Attacks? Ransomware attacks mean that the perpetrators infiltrate individuals or organizations to encrypt sensible...Read More
The hacker managed to steal $6.2 million worth of BUSD, the Binance native USD-pegged stablecoin converted to ETH via 1inch DEX and partially withdrawn from Binance Smart Chain onto Ethereum. This hack was comparatively benign: only $6.2 million was stolen from Belt Finance’s massive $2.6 billion total value locked (TVL). The beltBUSD vault uses four...Read More
Another protocol employing the Binance Smart Chain has suffered a security breach. This time, it was the decentralized exchange BurgerSwap, and the perpetrators stole over $7 million through a flash loan attack. $7.2M Drained From BurgerSwap Launched earlier this year, BurgerSwap is a DeFi project enabling users to swap between tokens issued on the BSC...Read More
Elliptic (a British blockchain security & analytics company) successfully traced DarkSide’s primary Bitcoin address, which contained over $90M in payments from 47 different victims. Ransomware As a Service – a Twisted Model DarkSide designs, creates and markets ransomware software to be sold to other cybercriminals who are able to locate the best targets. This type...Read More
Pancake Bunny, Binance Smart Chain’s largest yield aggregator service, has suffered a flash loan attack in which over $44M was stolen by an outside exploiter. Pancake Bunny’s underlying native token, BUNNY, crashed from $150 to $1 within seconds. Bunny Fam Today at 10:34 UTC, PancakeBunny was attacked with an economic exploit that crashed the price...Read More
The Binance Smart Chain continues to see some of the projects being built on it exploited. The latest was done by someone who had access to the PancakeSwap admin address. The Exploit It’s an age-old problem with smart contracts: randomness. Solidity has no native random function, and all sources of randomness have to be on-chain....Read More
DeFi protocol Rari Capital plans to reimburse its affected users after a hacker managed to exploit its liquidity pool, draining 10 million worth of Ethereum (ETH) – around 60% of users’ funds. Jai Bhavnani, Rari Capital CEO, said the protocols’ core contributors have agreed to return 2 million of their $RGT —which was initially allocated...Read More
Spartan Protocol, a DeFi project on Binance Smart Chain, was exploited for over $30.5m. The hacker’s whereabouts are unknown, and a second version of Spartan Protocol is currently being rebuilt with implemented bug fixes. What is/was Spartan Protocol? Spartan Protocol provided a platform for incentivized liquidity and synthetic assets. The SPARTA token had an internal...Read More
$50 million worth of various cryptocurrencies has disappeared from the automated market maker platform running on the Binance Smart Chain – Uranium Finance. While the team behind the project claims the funds were stolen, the cryptocurrency community speculates of a possible rug pull. $50M Gone From Uranium Finance The DeFi project took it to Twitter...Read More
According to legal documents republished on Scribd, law firm Roche Freedman has filed a formal complaint against Ledger and Shopify on April 6 on behalf of two lead plaintiffs. Ledger suffered a number of data breaches in 2020 and one was linked to e-commerce platform, Shopify, which hosts the company’s stores and products. Ledger admitted...Read More
Graham Ivan Clark, the teenager who was the mastermind behind the hack of various Twitter accounts belonging to high-profile accounts back in 2020, has received a three-year jail term. Twitter Hack Mastermind Serving Time According to a report by the Tampa Bay Times, Clark pleaded guilty to the Twitter hack that happened last summer at...Read More
The hacks and exploits on DeFi projects continue, and the latest victim to fall is the decentralized exchange platform – DODO. The attack targeted several V2 Crowdpools, and the stolen amount could go as high as $3.8 million. DODO Victimized by Hackers The decentralized finance sector is no stranger to malicious attacks and harmful exploits....Read More
Binance Smart Chain has become somewhat of a hot topic amid DeFi gem seekers in the past few weeks. The network saw an influx of new projects, reminiscing of the early days of the DeFi craziness last summer. In any case, hours ago, the community was shocked earlier today when news broke out that one...Read More
Verge, a privacy-centric cryptocurrency, reportedly suffered an attempted 51% attack, causing a massive blockchain reorganization, which wiped off over six months of transactions. 200 Days Worth of Verge Transactions Wiped Off The issue was first revealed by Antoine Le Calvez, chief data engineer at blockchain research company Coin Metrics. Tweeting on February 15, Le Calvez...Read More
CREAM Finance, one of the more popular projects in the field of Decentralized Finance (DeFi), has been exploited. The price for its CREAM token has dropped by 30% in less than a few minutes after the news broke out. The official Twitter account of CREAM Finance revealed earlier today that the protocol has been exploited....Read More
The brokerage arm of the South Korean business conglomerate Hanwha Group is reportedly set to acquire a 6.15% stake in Dunamu – the operator of the popular cryptocurrency exchange UPbit. The deal will take place on February 22nd, 2021. According to the KoreaHerald coverage, Hanwha Investment and Securities has agreed to buy 2.06 million shares...Read More
Months after suffering one of the worst hacks in crypto history, the popular exchange KuCoin has announced it had successfully recovered all stolen funds. The company’s CEO reassured that no customer has sustained any financial loss following the event. KuCoin Recovers Stolen Funds As reported back in September 2020, a group of unknown attackers exploited...Read More
The privacy coin Firo, which is formerly known as Zcoin, is currently going through a 51% attack. The team is yet to share further details, though they’ve clarified that they are working with exchanges and pools at the time of this writing. Privacy coin Firo is currently going through what is known as a “51%...Read More
Nearly $5 billion in bitcoin could make their way back to Mt. Gox users following a deal between creditors and CoinLab. Nevertheless, the agreement is still reportedly subject to creditor acceptance. Bloomberg reporter Matt Leising offered a brief explanation of the story earlier today, noting that CoinLab has reached a deal with Mt. Gox creditors...Read More
In yet another somewhat disappointing turn of events for Ledger users, the company has just revealed that they’ve discovered that the customer records for 20,000 ‘new’ users has been leaked during an incident with Shopify from back in the summer of 2020. In its most recent update, the cryptocurrency hardware wallet manufacturer Ledger revealed that...Read More
The company itself is offering little assistance and no reimbursements to the escalating number of victims of its slipshod security. The fallout from the second major data leak from the company that promised to be safer than keeping crypto on exchanges is intensifying. On December 21, a hacker leaked the details of as many as...Read More
The decentralized finance (DeFi) space continues to experience frequent attacks, and the latest victim is Warp Finance. The project admitted earlier today that undisclosed perpetrators have compromised the protocol and taken nearly $8 million by initiating a flash loan attack. $7.7M Taken In A Flash Loan Attack The significant growth of the DeFi space that...Read More
The attacker that drained over $8 million in NXM from the founder of Nexus Mutual had requested $2.8 million in ETH to stop disposing of the funds. As such, it seems that he has rejected the bounty offer from Hugh Karp of $300,000. What Happened With The Funds Of The Hack? CryptoPotato reported earlier this...Read More
Mt. Gox users fallen victim to an infamous hack in 2014 are closer to receive reimbursement as the debunked exchange’s trustee finally filed a draft rehabilitation plan. The Tokyo District Court and an examiner will now review the proposal and determine the following steps. CryptoPotato reported in October that the Tokyo District Court had issued...Read More
The personal address of Hugh Karp, the founder of the Ethereum-based insurance provider Nexus Mutual, has been drained for over $8 million worth of the NXM token by an already registered user. Despite the attack, Nexus Mutual has reassured that the customers’ funds are safe. Nexus Mutual Founder Drained For $8M In NXM The popular...Read More
A notorious hackers’ group called The Black Shadow has compromised one of the largest insurance companies in Israel – Shirbit. The attackers have already released sensitive client documents and have demanded a ransom in bitcoin, which could rise to $4 million by the end of the week. Israeli Insurance Company Hacked According to a local...Read More
