Tag Archives: Hacking

Cybercriminals are increasingly moving away from ransomware attacks and opting for a more covert strategy of utilizing stolen computing power to mine digital currency. To increase their likelihood of success, these malicious entities constantly vary their tools, tactics, and procedures, remaining adaptive and evasive in their approach. According to SonicWall, the publisher of cyberattack intelligence and ransomware data, cryptojacking incidents are soaring alarmingly. This...

A security outfit led by ethical hackers who specialize in security audits claimed to be offered a $500 bounty by DxSale Network, a decentralized token launchpad, after informing the platform of a breach that could cost it over $5 million. The reward is one of the lowest ever offered to a white hat hacker. $500 Reward for Saving $5 million Decurity, in a recent blog post, revealed that one of its researchers on June 28, 2023, discovered a bug in an unverified smart contract...

The recently hacked cross-chain router protocol Multichain announced it is shutting down its operations, citing a lack of operational funds and information about its CEO Zhaojun, who is in the custody of Chinese police. The latest update provided by the team confirmed the rumors about the exec’s arrest. On July 14, Multichain took to Twitter to reveal that Zhaojun has been out of contact with the team since being apprehended by the Chinese police from his home. His sister was...

Non-custodial decentralized finance (DeFi) protocol, Arcadia Finance, is the latest victim of a $455,000 exploit that occurred on both the Ethereum and Optimism networks. Confirming the hack, Arcadia revealed that it is working with security partners to minimize the damage after pausing the contracts. The platform has also roped in law enforcement to deal with the issue. Blockchain security expert PeckShield was first to notify the attack on Arcadia and claimed that it was...

Changpeng Zhao (CZ), the CEO and founder of leading crypto exchange Binance, announced that his company’s users, assets, and platform were unaffected by the recent hack on the cross-chain router protocol Multichain. The Binance boss tweeted that the exchange had finalized all asset swaps and closed deposits a while before the incident occurred. Binance Unaffected by Multichain Exploit On July 6, Multichain experienced abnormal outflows from its bridge contracts to an unknown...

Cryptocurrency exchange Bitfinex has recovered some of the funds it lost after being hacked in August 2016. The recovered assets will be used to compensate holders of the exchange’s Recovery Right Tokens (RRTs), which were issued to impacted creditors after the security breach. How Much Was Recovered? As announced by Bitfinex on Thursday, the United States Department of Homeland Security (DHS) has returned $312,219.71 in cash and 6.917 in Bitcoin Cash (BCH) accumulated from...

Two teenage boys from Hamilton, Ontario, have been busted for allegedly stealing over $4 million worth of bitcoin (BTC) and ether (ETH) from an American man through what authorities described as a “spear phishing attack.” According to local reports, Hamilton police started working with the United States Federal Bureau of Investigations (FBI) and the Secret Service Electronic Crimes Task Force to investigate the boys in June 2023. A Spear Phishing Attack Const. Krista-Lee...

NFTs continue to attract not only more users but also capture the eyes of fraudulent entities. Web3 threat actors have set their sights on digital collectibles, with millions of funds being lost through different scams and attacks. A new report suggested that such thefts in the NFT space declined in June but remain rampant. NFT Theft: June Edition Shedding light into the NFT crime landscape for the month, PeckShield’s analysis revealed that fraudsters stole approximately...

TRM Labs, a leading blockchain analysis firm focused on preventing cybercrime, has released a comprehensive report on the illicit sums lost to bad actors in the crypto space in 2022. The figures are quite notable, especially given the declining prices and interest in the market last year. Improved Cybersecurity Measures In spite of the plummeting value of various digital assets due to crypto winter and the myriad collapses that accompanied it, the number of scams and thefts...

In yet another case of a rug pull, Arbitrum-based Chibi Finance reportedly siphoned more than $1 million worth of various crypto assets. Notably, the protocol went live on Tuesday, but the developers managed to launder the stolen funds to other networks shortly after. On-chain analysis conducted by blockchain security platform CertiK revealed that Chibi devs deployed a malicious contract that enabled them to steal user funds from the protocol’s smart contracts. These funds...