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“Stars Arena, a web3 social media app, recently faced a security breach resulting in a $3M loss of AVAX tokens. Though swiftly addressed, this incident underlines the importance of robust security measures in maintaining trust in the crypto ecosystem.”

After losing $200 million in digital assets to a cybercrime exploit, Hong Kong-based Mixin Network is offering a $20 million bug bounty to the perpetrator. The company swiftly disabled user services after the breach, before working on resolving detected vulnerabilities to uphold user security and platform integrity. Mixin Network’s ability to handle this event highlights the significance of firm-level security in the unregulated world of cryptocurrencies.

Mixin Network’s founder, Feng Xiaodong recently disclosed a substantial $200 million hack on the network’s cloud service provider database. This breach resulted in the compromise of users’ digital assets such as Bitcoin and Ethereum. The company is introducing remedial measures including the issuance of “bond tokens” to offset the loss and boosting their security system. This incident resulted in a 9% dip in token value.

The recent hack on Mixin Network, resulting in a loss of approximately $200 million, highlights the vulnerability of blockchain technology. Despite its potential for speed, transparency, and security, hackers were still able to exploit weaknesses, leading to an immediate halt in withdrawals and deposits. It underscores the imperative for stronger defenses against cyber threats in blockchain technology.

Mixin Network suffered a security breach resulting in a loss of nearly $200 million from the mainnet. In an effort to investigate the incident and protect user assets, Mixin has temporarily paused deposit and withdrawal services, but asset transfers on its platform continue. The team is now devising a recovery strategy.

“The decentralized finance platform, Balancer, suffered a security breach due to a ‘social engineering attack’ on its DNS service provider. The attack resulted in a loss of $238,000 in cryptocurrency. It’s speculated that ‘Angel Drainer phishing contracts’ were in play, causing significant concerns about DNS security patterns and considerations for switching to more secure DNS registrars.”

“CoinEx, a renowned crypto exchange, fell victim to a major security breach, allegedly by North Korean hackers, Lazarus Group, leading to an estimated loss of over $55 million. This instance amplifies the need for robust security measures and user caution to prevent similar future incidents.”

Despite a known security flaw in its token contract, Ethereum staking protocol Lido Finance ensures the safety of Lido DAO (LDO) and staked-Ether (stETH) tokens. The flaw reportedly allows “fake deposit” attacks, deviating from the usual Ethereum standards. The issue arises when a transfer’s value exceeds user holdings, generating a false positive rather than stopping the transaction. While this brings uncertainty, it’s a reminder for thorough testing before integrating new tokens.

The Decentralized Finance (DeFi) platform Zunami Protocol has suffered a price manipulation attack involving its stablecoin pools on Curve Finance, leading to potential losses of over $2.1 million. The exploit participants reportedly used a flash loan to significantly alter the price, resulting in stolen funds. The event underscores the necessity of stringent security measures for DeFi ecosystems.

The blockchain-driven DeFi world, particularly the Aave protocol’s Earning Farm, recently fell victim to a reentrancy attack, leading to a loss of $287,000. This attack, which mirrors previous exploits on other platforms, highlights significant security vulnerabilities in the DeFi sector.

“Cryptocurrency enthusiasts were alarmed by reports of Multichain’s suspicious withdrawals and possible internal fraud or “rug pull”. Questions arise over its administration’s integrity and security, highlighting the need for robust security measures, comprehensive internal protocols, and regulatory oversight in cryptocurrency platforms.”

“Since 2012, $30B of crypto has been stolen due to vulnerabilities such as smart contract exploits and scams. Despite these challenges, the decline of ‘billion-dollar’ security incidents implies security improvements. However, the rapid evolution of the crypto industry may introduce new security risks.”

Scammers have stolen millions of dollars in cryptocurrency by impersonating HitBTC exchange through a fake website (hitbt2c.lol). They trick users into depositing crypto into fraudulent wallets, which have allegedly accumulated over $15 million. Victims’ funds are directed to multiple blockchain addresses, with the scammers utilizing DeFi tools and centralized methods to cash out stolen crypto.