No ‘respite’ for exploits, flash loans or exit scams in 2023: Cybersecurity firm
The new year is a fresh start for malicious actors in the crypto space and 2023 won’t likely see a slowdown in scams, exploits and hacks, according to CertiK. The blockchain security company told Cointelegraph its expectations for the year ahead regarding bad actors in the space, saying: “We saw a large number of incidents […]
$62M crypto stolen in Dec was the ‘lowest monthly figure’ in 2022: CertiK
Cryptocurrency hackers and exploiters seemingly slowed down for the 2022 holidays as December saw $62.2 million worth of cryptocurrencies stolen, the “lowest monthly figure” of the year, according to CertiK. The blockchain security company on Dec. 31 tweeted a list of the month’s most significant attacks. It highlighted the $15.5 million worth of exit scams […]
Inverse Finance exploited again for $1.2M in flashloan oracle attack
Just two months after losing $15.6 million in a price oracle manipulation exploit, Inverse Finance has again been hit with a flashloan exploit that saw the attackers make off with $1.26 million in Tether (USDT) and Wrapped Bitcoin (WBTC). Inverse Finance is an Ethereum based decentralized finance (DeFi) protocol and a flashloan is a type […]
Illicit crypto usage as a percent of total usage has fallen: Report
Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace. The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for illegal activity. However, CipherTrace estimates that illicit activity was between 0.62% and 0.65% of […]
Maiar decentralized crypto exchange goes offline after bug discovery
The Maiar Exchange, a decentralized exchange (DEX) native to the Elrond blockchain, has been temporarily taken offline after an attacker utilized an exploit and made off with roughly $113 million worth of Elrond eGold (EGLD). Minutes before 12:00 am UTC on Monday, the co-founder and CEO of Elrond, Beniamin Mincu, tweeted that he and his team were […]
More than $1.6 billion exploited from DeFi so far in 2022
The decentralized finance (DeFi) space has been rife with hacks, exploits, and scams so far this year with over $1.6 billion in crypto stolen from users, surpassing the total amount stolen in 2020 and 2021 combined. Analysis from blockchain security firm CertiK revealed the statistics on May 2 showing the month of March having the […]
AkuDreams dev team locks up $33M due to smart contract bug
The highly anticipated NFT project Akutars was marred by both an exploit and a bug on the weekend causing over 11,500 Ethereum (ETH) worth nearly $33 million to be locked forever within a smart contract, inaccessible even to the development team. The exploit however, was conducted by someone trying to show a vulnerability in the […]