Category: Security

Attorney John Deaton’s Twitter account was hacked, promoting an obscure cryptocurrency called $LAW token. This incident highlights the potential danger of misinformation and emphasizes the importance of skepticism, fact-checking, and vigilance within the crypto community to safeguard its reputation and integrity.

Users of Atomic Wallet reported crypto asset losses and complete disappearance of portfolios. Atomic’s team is investigating the issue. This highlights risks associated with blockchain technology, emphasizing the importance of ensuring safety, security, and educating oneself on secure practices.

Atomic Wallet, with over five million users, suffered a security breach resulting in users losing funds. On-chain investigator ZachXBT is assisting affected individuals. The breach questions the wallet’s security and highlights the challenge of achieving complete security in the decentralized financial landscape.

OpenAI commits to a $1M Cybersecurity Grant Program to support AI-driven cybersecurity initiatives, empowering defenders and elevating discourse around AI and cybersecurity. The initiative aims to advance cybersecurity capabilities, evaluate AI model efficacy, and enhance safety and security in the digital arms race.

A recent scam involving a fake Uniswap website, impersonated executives, and deceptive links highlights the growing sophistication of cyber fraud targeting crypto enthusiasts. It is crucial for individuals in the crypto space to remain vigilant, verify website URLs, and double-check executive identities to protect themselves from such scams.

Twitter’s favorite crypto cynic, Peter Schiff, recently had his account hacked, promoting a fake gold coin scam. Notably, Schiff has expressed skepticism towards cryptocurrencies but holds a non-fungible token (NFT) collection, showcasing his openness to blockchain possibilities.

The crypto community experienced a sophisticated scam involving a fraudulent Uniswap website, complete with a fake Zoom recording featuring imposters posing as Uniswap executives. The incident highlights the importance of vigilance and thorough research in the ever-changing world of blockchain and cryptocurrency.

2022 saw over $2 billion in token bridge thefts due to vulnerabilities in security measures. This article discusses common security breaches, including social engineering attacks, private key issues, and smart contract vulnerabilities, and highlights how experts are developing stronger security protocols for a secure multi-chain future.

Users of Apple Savings service experienced severe delays in moving or withdrawing deposits due to “security reviews,” causing inconvenience and skepticism. This issue highlights the shift in traditional banking away from customer service, and questions banks’ ability to effectively serve customers while having power to freeze funds without appropriate explanations or transparency.

May 2023 saw cryptocurrency market losses of over $54 million due to scams and hacking incidents, with BNB Chain accounting for $37 million across ten cases. Rug pulls accounted for 12 instances with $37 million in losses, while flash loan attacks caused damages totaling $8.9 million. Despite reduced losses, the absence of recoveries raises concerns about the crypto ecosystem’s safety.

A recent Beosin report reveals that losses from rug pulls and exit scams, where project founders vanish with investors’ money, have surpassed amounts stolen from DeFi projects ($45 million vs. $19.7 million). Beosin advises crypto users to raise their anti-fraud awareness and conduct due diligence. The industry should focus on building secure platforms and educating users about potential scams.

The hacking of Mita Murati’s Twitter account, promoting a scam cryptocurrency token, raises concerns regarding the security of high-profile individuals’ social media accounts. This incident emphasizes the need for vigilance and better online security practices, serving as a reminder that while blockchain technology offers potential and benefits, no technology is completely immune to threats.

A critical zero-day vulnerability in the Tron network’s multisignature mechanism was discovered by dWallet Labs, affecting over $500 million worth of digital assets. The flaw, which allows unauthorized transactions, raises questions about Tron’s reliability and security, but the prompt patch deployment is a positive sign.

South African cricket legend AB de Villiers fell victim to an NFT hack, losing a significant portion of his 300 digital collectibles. Despite the security breach, de Villiers remains an advocate for cryptocurrency, engaging in various digital asset projects like Bored Ape NFTs, Neo Tokyo, and Impostors.

Jimbos Protocol offers a public bounty of $800,000 after a hacker exploited the DeFi platform, stealing around $7.5 million worth of Ether. The move raises questions on whether offering bounties encourages future attacks or is a necessary measure to recover lost funds and protect users.

The hacker who hijacked cryptocurrency mixer Tornado Cash returned control to its team, despite laundering stolen funds on the platform. This highlights the risks linked to privacy-enhanced solutions and Tornado Cash’s use by cybercriminals for hiding illicit transactions.

At the Israel Crypto Conference, Shahar Madar of Fireblocks emphasized the importance of security in Web3 startups and shared insights to protect platforms and users, including establishing a security framework, access control, and developing a game plan against potential threats.

A zero-day vulnerability in Tron multisig accounts, discovered by dWallet Labs, risked $500 million worth of assets by potentially bypassing the multi-signature mechanism. The vulnerability was resolved in February, emphasizing the importance of continuous security assessments and improvements in the blockchain space.

Binance has reopened TORN deposits after a security breach on privacy-focused crypto mixer Tornado Cash DAO. Despite the hack, Tornado Cash’s protocol was not impacted, but concerns arise over potential risks and vulnerabilities in decentralized systems. Binance’s decisive actions, like monitoring projects, aim to ensure better stability and security.

Shiba Inu regained its AAA rating from Certik, following concerns about a recent drop in its rating. Ranking 33rd on Certik’s Security Leaderboard, Shiba Inu scored highly in all six measured categories. However, its price dipped by 1% recently, and thorough research is advised before investing.

The Jimbos Protocol team offers a deal to the exploiter who drained $7.5 million from their DeFi app: return 90% of the funds and keep 10%, or face prosecution. This raises questions about the ethics of negotiating with hackers and highlights the importance of robust security measures in the blockchain industry.

Jimbos Protocol is collaborating with security researchers and on-chain analysts to investigate a cyber attack that exploited a loophole and resulted in a theft of ETH 4,048 (about $7.5 million). As hacking incidents increase, this event emphasizes the importance of implementing effective security measures and continuous assessments in the blockchain and cryptocurrency space.

This week, Trezor’s hardware wallet sales soared by 900%, coinciding with Reddit users’ warnings about fake Trezor phishing websites. Despite concerns over security flaws in Trezor and Ledger wallets, these hardware wallets remain the top choice for crypto enthusiasts, as their offline storage and tamper-resistant features provide significant protection against online threats.

Hardware wallet firm Ledger faces criticism over its “Recover” service, aimed at simplifying self-custody by allowing backup and restoration of private seed phrases. Amid security concerns, Ledger postponed the launch to focus on open-sourcing its protocol. While critics argue it goes against core ideals, some believe it may help onboard new users.

The recent growth in cryptocurrency popularity has led to a surge in South Korean crypto scams targeting young women through social media platforms. Perpetrators primarily use Instagram and popular dating apps, making off with significant amounts of fiat and cryptocurrencies monthly. Authorities are implementing measures, such as specialized departments and training, to combat these crypto-related scams.

The blockchain and DeFi world faces uncertainty after a $7.5 million exploit involving Arbitrum-based Jimbos Protocol. This highlights the need for better security, prevention methods, and collaboration between developers and security researchers to maintain confidence in decentralized finance systems.

This article explores the complexities and high risks involved in insuring the crypto industry. It highlights the challenges faced by insurance providers, such as assessing over 2,000 variables, managing private keys, and proving the legitimacy of individual claims. Adopting traditional insurance sector lessons and blockchain technology could help promote industry growth and make insurance more accessible.

The recent $7.5 million exploit of Arbitrum-based Jimbos Protocol highlights potential vulnerabilities in DeFi protocols and raises questions about blockchain security. Adopting stricter security measures and learning from previous breaches is essential to safeguard users’ investments and promote mass adoption of DeFi platforms.

Jimbos Protocol, a liquidity protocol for the Arbitrum system, suffered a recent attack, leading to a loss of 4,000 ETH ($7.5 million) due to a lack of slippage control in liquidity conversions. Despite efforts to enhance security, the DeFi ecosystem still faces persistent challenges safeguarding against potential vulnerabilities and unauthorized access.

Stargate has proposed a comprehensive plan to address concerns surrounding Multichain and Fantom’s primary USDC asset, including halting STG emissions on Fantom pools and isolating them from other network pools. The proposal considers alternative bridging options, such as Hydra, to mitigate risks and maintain ecosystem integrity.

The recent security breach of Nigerian crypto trading platform, Patricia, has raised concerns about digital asset safety. This incident highlights the risks associated with cryptocurrency trading and questions the efficacy of current security measures, emphasizing the need for stronger regulations and robust security protocols in the industry.

The hacking of an older version of Yearn Finance saw the exploiter mint over 1 quadrillion Yearn Tether, resulting in $11.6 million in stolen stablecoins. Despite crypto mixer Tornado Cash sanctions, the hacker laundered nearly $9.3m worth of loot, raising concerns about the long-term effectiveness of such sanctions and the need for evolving security measures in the crypto community.