Self-sovereign financial services provider BonqDAO has been exploited through an oracle hack leading to the theft of $110 million in crypto from the protocol. During the exploit, the attacker managed to manipulate the price of AllianceBlock wrapped tokens (wALBT) and made away with 100 million wALBT worth over $10 million. What Happened? An analysis by...Read More
2022 can easily be considered the worst year when it comes to securing cryptocurrencies, as projects suffered a series of devastating hacks and exploits. According to the latest Chainalysis report shared with CryptoPotato, $3.8 billion was stolen from cryptocurrency businesses, with decentralized finance (DeFi) being the primary target. March and October saw huge spikes, with...Read More
Late last night, the attackers behind the Harmony exploit back in June 2022 attempted to cash out another batch of their ill-begotten ETH gains. Following the 41k ETH laundered via TornadoCash and Railgun two weeks ago, worth about 63.5 million at the time, the North Korean Lazarus Group made an attempt at laundering another $27.7...Read More
Mango Markets’ exploiter Avraham Eisenberg was hit with a lawsuit by Mango Labs, the company behind the DeFi protocol, for $47 million in damages. The Wednesday filing with the United States District Court for the Southern District of New York alleges that Eisenberg executed a malicious attack on Mango Markets by manipulating the native token,...Read More
As we’ve seen over the years, blockchains aren’t quite as secure as some pretend they are. Rather, although the technology is one of the most secure ways of storing data available to the public, poor coding, social engineering, and the like can still allow bad actors to take advantage of unwary victims. Guessing Games In...Read More
Robinhood is a platform well-known for its user-friendly approach to stocks, allowing them to make investments quickly in a variety of ways. It also enables them to buy crypto and is a household name among such investors. However, Robinhood is primarily a stock trading platform and, as such, does not have a proprietary cryptocurrency. That...Read More
The hacker of Wormhole, one of the largest cross-chain bridges between Solana and other blockchains, has moved stolen funds of $155 million worth of ETH for the first time in months to a decentralized exchange. Blockchain data by analytic platform CertiK revealed that 95,630 ETH was sent to the OpenOcean DEX before being converted into...Read More
MistTrack – a crypto tracking and compliance platform – has published updates on its investigation of the Harmony bridge hack that compromised $100 million last June. They found that the infamous North Korean hacking organization, The Lazarus Group, are likely behind the theft. The Movement of Funds In a Twitter thread on Monday, MistTrack said...Read More
Multi-chain crypto wallet BitKeep revealed that it will launch the compensation portal in the first week of February, and 50% of the funds are expected to be returned to users by the end of the same month. The remaining funds will be distributed by the end of March. To avoid fluctuation, the asset valuation of...Read More
The Lazarus Group has been moving its spoils from the Harmony Bridge hack this weekend. On Jan. 16, blockchain sleuth ‘ZachXBT’ posted details of the movements of large amounts of Ethereum. The crypto assets originated from the anonymizing service Tornado Cash and went through Railgun. Railgun is a smart contract privacy platform that uses zero-knowledge...Read More
2022 was indeed a challenging year for the crypto industry, marked by significant declines in the value of major assets, liquidity issues for many firms, and an unfortunate number of bankruptcy filings. The industry also faced substantial security threats as hackers stole billions of dollars from users and DeFi protocols. A report by blockchain security...Read More
The Commodities and Futures Trading Commission (CFTC) has charged Mango Markets exploiter Avraham Eisenberg with violating federal commodities laws during his $110 million manipulation attack in October. The commission seeks various forms of penalties and relief from the attacker, some of which include trading bans, restitution, and disgorgement. Eisenberg’s Crime Per the complaint filed on...Read More
The digital asset industry witnessed many unprecedented events in 2022, making it one of the worst years in crypto history. Despite the challenges, cybercrime activity significantly reduced in December compared to previous months, like October, which saw a surge in crypto hacks and thefts. According to blockchain security firm CertiK, the industry suffered losses of...Read More
Cryptocurrency firms struggled greatly in 2022, with multiple companies facing financial issues and bankruptcy. In addition to these challenges, over $3 billion was stolen from crypto projects this year, according to Forbes. These setbacks have caused turmoil in the industry and raised concerns about its stability. According to the report, crypto projects witnessed more than...Read More
Cryptocurrency investor Avraham Eisenberg has been arrested in Puerto Rico on charges of commodities fraud and manipulation for allegedly stealing more than $100 million from decentralized finance (DeFi) protocol Mango Markets. This marks the first time a U.S. resident has faced charges for manipulating a DeFi platform. Eisenberg Drains $110M from Mango Markets Recall that...Read More
This December 27, Kaspersky Lab announced that the North Korean hacking group ‘BlueNoroff’ stole millions of dollars in cryptocurrencies after creating more than 70 fake domains and impersonating banks and venture capital firms. According to the investigation, most of the domains mimicked Japanese venture capital firms, denoting a strong interest in user and company data...Read More
Cybercrime intelligence firm Hudson Rock has disclosed that a threat actor is trying to sell the users’ data of 400 million Twitter customers containing private information about celebrities, politicians, and companies. Some of the big names include former U.S. President Donald Trump, Ethereum founder Vitalik Buterin, Shark Tank star Kevin O’Leary, billionaire investor Mark Cuban,...Read More
Cybercrimes are increasing both in numbers and sophistication. The latest to find itself on the receiving end was the Bitcoin mining pool, BTC.com, which announced suffering a cyber attack on December 3rd. The perpetrators siphoned certain digital assets worth $700,000 owned by BTC.com’s clients and nearly $2.3 million in asset value owned by its parent...Read More
DeFi criminals have been observed to cash in on the ‘spirit of giving.’ Decentralized finance protocol Defrost Finance became the latest victim of a flash loan attack on December 23rd that drained funds in the V2. The attacker used the owner key for the second time to exploit V1. According to the Twitter thread by...Read More
PeckShield, the blockchain analytics and security company, reported earlier today that some BitKeep wallet users had their funds drained from the platform. According to the current estimations, the total amount stolen is roughly $8 million in various digital assets. After Hacktober, which was the worst month in the crypto industry in terms of hacks and...Read More
Immunefi, a leading bug bounty platform for the cryptocurrency industry, has paid out a total of $65 million to white hat hackers since its founding in 2020. These ethical hackers search for vulnerabilities in smart contracts and blockchain projects and are rewarded for reporting them to Immunefi. This helps to secure users’ assets and prevent...Read More
Raydium – a Solana-based decentralized exchange (DEX) – was hacked for over $2 million on Friday. According to Raydium, the hacker appears to have taken control of the exchange’s admin address to carry out the attack. Over $2 Million Lost Raydium acknowledged the hack over Twitter, noting that investigations were still ongoing. It provided a...Read More
Microsoft revealed that malicious entities are getting more sophisticated by the day. According to a new report, Telegram chat groups are being used to target cryptocurrency investment companies. The tech giant identified a threat actor – DEV-0139 – who infiltrated Telegram groups posing as a representative of a crypto platform. Targetted Attacks Against Crypto Companies...Read More
Another multi-million dollar hack has hit the decentralized finance space. The latest victim is BNB Chain-based DeFi protocol – Ankr. Initial reports suggest that a vulnerability in its code that enabled unlimited minting of tokens was exploited. Ankr promptly confirmed the attack and added that it has reached out to other decentralized exchanges urging them...Read More
On-chain sleuth ZackXBT has tracked down some of the mixed Bitcoin funds stolen by the mysterious FTX hacker this month. The analyst found that $4.1 million worth of Bitcoin (255 BTC) has ended up on OKX, a cryptocurrency exchange. As explained on Twitter, the hacker initially deposited the stolen funds to CoinMixer – an anonymous...Read More
The cryptocurrency industry saw the spectacular collapse of one of its giants earlier this month, which ultimately resulted in FTX filing for Chapter 11 bankruptcy. Shortly after, though, there were suspicious movements from one of its accounts, many related it to a hack or even an inside job. However, the Securities Commission of the Bahamas...Read More
Less than a week after exploiting the leading cryptocurrency derivatives exchange Deribit, the attacker started moving the stolen funds. As of November 5, the hacker had moved 1,610 Ether (ETH) worth over $2.5 million to the U.S.-sanctioned crypto mixer Tornado Cash, leaving a balance of about 7,501 ETH in the address. What Happened? On November...Read More
Last month was quite spooky for the crypto industry as it saw the highest number of DeFi hacks this year. While October was expected to be “Uptober,” it quickly turned to “Hacktober” as cyber criminals ransacked top crypto projects for hundreds of millions of dollars. Hackers Steal $760M From DeFi Protocols A recent tweet by...Read More
Blockchain-based gaming platform Gala Games claimed that “everything is fine” after reports of billion-dollar-rug pull surfaced. It all started with a misconfiguration of the pNetwork bridge triggering the additional issuance of GALA GAME, following which a large number of additional tokens were recharged and sold on Huobi. This, in turn, caused GALA to fall by...Read More
SKYWARD, the native token of NEAR-based platform Skyward Finance, plunged by 95% after the protocol’s treasury lost $3 million in a smart contract exploit. The attack occurred in the late hours of Wednesday and was first reported by Twitter user Sanket Naikwadi before Skyward Finance publicly acknowledged the incident. How it Happened According to Naikwadi,...Read More
