Tag Archives: hacks

Crypto-friendly financial institution Evolve Bank and Trust was embroiled in a massive data breach. The bank admitted it had been aware of the incident, which involved the theft of 33 terabytes of user data. While Evolve Bank maintained that customer funds appear to remain untouched, they admitted that the hackers likely managed to download sensitive customer information stored in the bank’s databases. Evolve Bank’s Breach Exposes Bitfinex and Other Firms’ Data The...

Losses from hacks and rug pulls in 2024 year-to-date amount to over $473 million across 108 incidents, according to Immunefi’s latest data. This marks a 20% decrease compared to the same period in 2023, which saw losses of more than $595 million. In May 2024, victims of hacks and fraud lost $52.4 million across 21 incidents, a 12% decrease from May 2023’s losses of almost $60 million and a 28% decrease month over month. The crypto bug bounty platform’s report observed that a...

Sam Kazemian, founder of Frax Finance, has alleged that an inside job at X was responsible for the hack of the project’s official account. The breach, which occurred on June 1, led to the decentralized stablecoin protocol behind FRAX USD losing access to its X account. Frax Finance Hack In a Telegram post dated June 3, Kazemian mentioned that the Frax Finance team is “reasonably sure” they have identified the perpetrator, described as a “serial scammer” known to blockchain...

According to blockchain security firm CertiK, the cryptocurrency sector lost $42.6 million in May to exploits, flash loans, and exit scams. Despite these setbacks, approximately $96.2 million was recovered, offering some relief from the economic impact. Flash Loan Attacks Dominate Blockchain Losses Flash loan attacks caused the largest losses in the crypto sector, totaling approximately $20.7 million. Sonne Finance suffered the most, losing $20 million, followed by TLN...

Japanese cryptocurrency trading platform – DMM Bitcoin – fell victim to a hack resulting in a massive loss of Bitcoin worth around $305 million on May 31st. The exchange confirmed the attack and revealed that 4,502.9 bitcoins were drained from their systems. DMM Bitcoin has not provided additional details regarding the breach but stated that it is conducting an investigation and has implemented measures to avoid a recurrence of such an attack. DMM Bitcoin Hacked Following the...

A confidential United Nations report obtained by Reuters reveals that North Korea’s notorious cybercriminal group known as the Lazarus Group transferred millions of stash of stolen cryptocurrency back to the Asian country last year. In March 2023, these North Korean hackers illicitly took $147.5 million worth of cryptocurrency from HTX, a crypto exchange owned by TRON founder Justin Sun. A year later, they funneled the funds into the isolated nation using the sanctioned...

Solana-based meme coin launchpad Pump.fun announced that a former employee used their “privileged position” to access “withdraw authority” and misappropriated around 12,300 SOL, worth approximately $1.9 million at the time. To prevent further damage, Pump.fun halted trading and updated the contracts. Flash Loan Exploit Addressing the exploit, Pump.fun said in an X post that a former employee misused their access to the withdrawal authority, which they had obtained through...

The crypto whale who lost $71 million worth of wrapped bitcoins (WBTC) via a dusting attack has recovered the stolen funds after negotiations with the hacker. According to a tweet by blockchain security firm PeckShield, the scammer began returning the funds on May 9 and completed the process on May 11. Stealing $71M WBTC The whale’s woes began on May 3 after they mistakenly sent 1,155 WBTC to a wrong address placed in the transaction history via address poisoning. An address...

The leading blockchain security firm, CertiK, released its latest report revealing a significant downturn in losses from crypto-related hacks and scams as April concludes. Noting a notable decrease, CertiK stated April saw approximately $25.7 million lost to exploits, hacks, and scams. This figure marks a decline of 141% from the previous month’s losses, demonstrating a trend towards increased security within the cryptocurrency industry. Specifically, CertiK’s breakdown of...

Crypto privacy protocol Railgun has denied accusations that it is being used by North Korea and other United States-sanctioned entities to launder digital assets. This development comes as the crypto privacy protocol nears $1B total volume. Railgun Denies Lazarus Group Association Responding to claims made by crypto reporter Colin Wu through an X post, Railgun denied allegations linking it to the North Korean hacker group Lazarus Group. “The North Korean hacker group Lazarus...