News
Blockchain sleuths ZachXBT and Taylor Monahan say crypto scammers have been emboldened with US regulators dropping crypto-related court cases and politicians endorsing memecoins.
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Hacks News
Hacks have become prevalent in the digital age, encompassing various sectors and technologies. In the realm of decentralized finance (DeFi), where financial services operate on blockchain networks without traditional intermediaries, the risks of hacks are particularly notable. DeFi platforms, built on smart contracts, are susceptible to vulnerabilities, leading to significant financial losses.
DeFi hacks frequently take advantage of smart contract flaws, allowing hackers to change code and steal money. These incidents show that to strengthen DeFi protocols, thorough security audits and ongoing testing are required. A frequent type of DeFi hack is a flash loan attack, which entails borrowing a sizable amount in a single transaction, tampering with market prices and making money off of the ensuing price imbalances.
Conventional hacks, on the other hand, focus on databases, wallets or centralized exchanges. Phishing attempts deceive people into disclosing private information, which allows unwanted access. Hackers also frequently use ransomware, malware and distributed denial-of-service attacks to compromise digital assets and interfere with services.
Preventing hacks requires a combination of robust cybersecurity practices, regular audits and user education. As the digital landscape evolves, vigilance and proactive measures are essential to mitigate the risks associated with hacking incidents, ensuring the security of online assets and financial transactions.
- News
Crypto crime isn’t all FTX and fraud. Jennie Levin helps unpack the deeper, more technical threats facing blockchain today, including why regulators are still catching up.
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Hypersphere investment partner Mehdi Farooq said he lost six wallets and years of savings after falling victim to a fake Zoom call phishing attack.
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Hackers behind the $100 million Nobitex exploit have released the exchange’s full source code, escalating tensions amid the Israel-Iran conflict.
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The Iranian crypto exchange’s wallets were exploited for at least $81 million as attackers used vanity addresses for the theft.
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Meta Pool says an early detection system discovered the exploit, allowing it to pause the affected smart contract and prevent further losses.
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The stablecoin giant froze over $12.3 million worth of funds, pointing to potential illicit activity or AML violations.
6336 - Opinion
Unless Bitcoin upgrades its core cryptography in the next five years, the trust it has built over 16 years could be wiped out by a single quantum attack. Urgent upgrades are needed to protect the world’s leading cryptocurrency.
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MEXC introduces a $100 million fund to protect users from platform breaches, hacks and technical failures, with real-time wallet transparency.
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Cybersecurity firm Kaspersky says the Librarian Ghouls may be hacktivists, based on their reliance on legitimate, third-party utilities, a technique commonly associated with similar groups.
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Strategy’s Michael Saylor says even if a legitimate quantum computing threat emerged from a tech giant, it won't be released.
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Affected Cetus liquidity pools were replenished using a combination of recovered funds, cash reserves, and a $30 million USDC loan.
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Alex Lab Foundation said it will fully reimburse users affected by the $8.3 million exploit, with compensation issued in USDC following a structured claims process.
11737 - Newsletter
Bitcoin’s consolidation phase may break out into the next phase of price discovery, catalyzed by forthcoming US stablecoin rules.
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Ukrainian police claimed the man’s actions caused a server hosting company to suffer losses estimated at over $4.4 million.
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