Tag Archives: Hacking

Decentralized finance (DeFi) protocol CoW Swap has suffered a smart contract exploit, leading to the loss of approximately 551 BNB ($181,600). According to reports, the attacker added a wallet address as a “solver” of CoW Swap and invoked a transaction to approve DAI transfers to SwapGuard before moving the assets to other addresses. A Settlement Contract Exploit Blockchain surveyor MevRefund first noticed the attack in the early hours of today. The maximal extractable value...

Orion Protocol – a liquidity aggregator for both CeFi and DeFi exchanges – saw its core contract hacked on Thursday across both its Ethereum and Binance Smart Chains (BSC) deployments.  The hacker netted over 1700 ETH, cumulatively worth over $3 million at writing time.  Another Reentrancy Hack As explained by the blockchain security company PeckShield on Twitter, Thursday’s hack was made possible “due to incomplete reentrancy protection.” A reentrancy bug refers to when an...

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 $732.4 million and $775.7 million, respectively. The latter went on to become the biggest single...

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, MNGO, through “fraud, deception,” and converted nearly $114 million from the depositors of the protocol into his own accounts....

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 the case of the “Blockchain Bandit,” however, the tech worked as intended. The unknown attacker managed to steal crypto assets from up to 732 wallets by a...

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 Lazarus passed the stolen funds through multiple exchanges and blockchains while attempting to cover their on-chain tracks. ...

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 the compensation will be converted to USDT stablecoin. In a series of tweets, BitKeep said that its technical team, as well as security agencies, devised a closed-loop...

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 firm SlowMist, titled “Blockchain Security and AML Analysis,” provided an overview of the security status of various sectors...

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 Monday, the CFTC said that Eisenberg misappropriated over $100 million from the Mango...

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 125 hacks, and the top five heists (all involving decentralized finance (DeFi) protocols) accounted...