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2 auditors miss $27M Penpie flaw, Pythia’s ‘claim rewards’ bug: Crypto-Sec
10.9.2024
Two smart contract auditors miss a Penpie bug that resulted in a $27M exploit, Pythia Finance attacker claims way too many rewards: Crypto-Sec
2 auditors miss $27M Penpie flaw, Pythia’s ‘claim rewards’ bug: Crypto-Sec
10.9.2024
Two smart contract auditors miss a Penpie bug that resulted in a $27M exploit, Pythia Finance attacker claims way too many rewards: Crypto-Sec
Gov’t Servers in South Korean City ‘Infected with Crypto Mining Malware’
16.1.2024
Source: iuliia_n/Adobe Crypto mining malware has been found on two government servers in the South Korean city of Daejeon, an audit has found. Per MBN, the nation’s Ministry of Public Administration and Security commissioned biannual audits of the city government’s servers. During...
DeFi vulnerability leading to $6.7M exploit 'not detected' by auditors
13.11.2023
The project was previously audited by Trail of Bits and Hats Finance
Gold-Backed Digital Tokens Now an Approved Payment Method Says Zimbabwean Central Bank
9.10.2023
Zimbabwean residents and institutions can now pay or settle domestic transactions using the recently launched gold-backed digital tokens, the central bank has said. Bank governor John Mangudya said the central bank has enlisted the services of external auditors to “validate the availability...
Protocols Must Deploy “Asymmetric Countermeasures” to Counter Code Vulnerability Exploiting Hackers — Spherex CEO
28.9.2023
While both attackers and smart contract auditors are motivated to find vulnerabilities in code, according to Eyal Meron, the co-founder and CEO of Spherex, the former “is always more incentivized as the protocol’s total value locked (TVL) grows.” To overcome this challenge, Meron...
Palau’s Stablecoin Audit Process Advances
25.8.2023
Palau’s Ripple-backed stablecoin pilot audit process is advancing, with the Ministry of Finance collaborating with auditors and turning in more than 200 documents for review. Jay Hunter Anson, a Palau Ministry of Finance member, explained he was ready to show auditors that every transaction...
ChatGPT can’t beat human smart contract auditors yet: OpenZeppelin’s Ethernaut challenges
1.6.2023
While ChatGPT-4 can’t compete with human auditors yet, OpenZeppelin noted it was not optimized to do so, and AI models trained for this purpose would likely be more accurate
Report Reveals Limited Accounting Records, Commingled Funds at FTX Digital Markets in the Bahamas
17.2.2023
PWC, one of the ‘Big Four’ auditors and among the largest professional services networks globally, recently published a report on FTX Digital Markets, the bankrupt crypto exchange’s Bahamian subsidiary. The report indicates that the entity’s accounting records have been limited, and...
Sens. Warren, Wyden question quality of auditors’ oversight in light of FTX debacle
26.1.2023
The senators coauthored a letter to the Public Company Accounting Oversight Board chair asking how FTX and other crypto firms were audited and why the audits failed so badly
Fasttoken, Official Crypto of Fastex, to Launch to the Public on January 18
16.1.2023
Developed by technology giant SoftConstruct, Fasttoken (FTN) is the official cryptocurrency in the Fastex ecosystem and the native token of the Fastex Chain. Aside from passing two audits by independent third-party auditors, Fastex is a regulated virtual currency exchange and virtual currency...
Report: SEC Heightens Probe Into Auditors Servicing Crypto Exchanges
23.12.2022
According to the U.S. Securities and Exchange Commission’s Paul Munter, the agency’s acting chief accountant, the U.S. regulator is monitoring proof-of-reserves (POR) more closely. “We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” Munter...
Binance Losing Auditing Partner Mazars Leaves Crypto Questions Unanswered
19.12.2022
French auditing firm Mazars, which had published proof-of-reserves for Binance and other exchanges, on Friday announced it cut ties with its clients in the crypto industry
SBF risks 115 years in jail, Binance’s FUD, and auditors quit crypto: Hodler’s Digest Dec. 11-17
17.12.2022
Big Short Investor Michael Burry Says Audits of Crypto Exchanges Like Binance and FTX Are ‘Meaningless’
17.12.2022
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a new kind of credit default swap. “Our auditors were learning on the job,”...
No more proof-of-reserve checks? Auditors quietly drop crypto projects from portfolios
16.12.2022
The firms work with prominent crypto exchanges such as Binance, KuCoin, Crypto.com, Gate.io, OKX and FTX
Document Claims Alameda CEO Caroline Ellison’s FTX Margin Position Was Negative $1.3B in May 2022
5.12.2022
In a number of recent interviews, the former co-founder of FTX, Sam Bankman-Fried (SBF), explained that he “wasn’t running Alameda” and he “didn’t know the size of their position.” In a more recent discussion with The Block’s Frank Chaparro,...
Binance Hires Former Donald Trump Auditors For Proof of Reserves Effort
2.12.2022
Major crypto exchange Binance has appointed the accounting firm Mazars, which worked for former US President Donald Trump’s company, to assist with its Proof of Reserves (PoR) effort.
In order to help assure investors that its coins are covered by reserves, Binance decided to use Mazars to verify...
FTX Latest - Crypto Prices Slip as Contagion Hits BlockFi, Genesis and Gemini, Hacker ID Known, Auditors and VCs Fail, Class Action Lawsuit Filed
16.11.2022
BlockFi, Genesis and Gemini are the latest crypto victims of FTX contagion.
The Wall Street Journal reports that crypto lender BlockFi is preparing for bankruptcy while today Genesis announced that it was halting redemptions on its lending product and would stop making new loans.
It is claimed...
Cross-Chain Bridge Nomad Loses $190 Million Making It 2022’s Third-Largest Crypto Heist
2.8.2022
On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time. Nomad Cross-Chain...