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Rewarding Hackers With Bug Bounties ‘Inherently Creates a Moral Hazard’ Says Expert
7.12.2023
Rewarding hackers who agree to return a portion of the stolen funds not only “creates a moral hazard” but potentially “leads to more security breaches,” a Web3 expert has argued. The recent attacks on Kronos and Kyberswap, as well as the subsequent attempts to engage...
Platypus Exploiters Acquitted of Wrongdoing in Landmark Case
4.12.2023
Mohammed and Benamar M., two brothers accused of exploiting Platypus, an avalanche-based automated market maker (AMM) platform, were acquitted of any criminal wrongdoing in a landmark case for French justice. The judge in charge stated that the individuals just interacted with a smart contract that...
U.S. Treasury Sanctions North Korean Government’s Crypto Mixer Sinbad
29.11.2023
According to a statement released Wednesday, the U.S. Treasury Department has placed sanctions on the government of North Korea’s crypto mixer, Sinbad. “A key-money laundering tool” Sinbad serves as “a key money-laundering tool” for the state-sponsored North Korean cyber-hacking collective...
Bitcoin User Alleges Hack Linked to Erroneous 83.65 BTC Fee Incident
27.11.2023
The crypto community was initially baffled by the massive fee of 83.65 BTC, originally attributed to a costly mistake. However, recent revelations paint a darker picture. According to a social media account on X called “@83_5BTC,” hackers stole the funds from the unnamed individual...
North Korean Hackers Disguise as South Korean Govt Agencies to Steal Cryptos: Report
27.11.2023
Source: Pixabay North Korea’s state-backed hacking group ‘Kimsuky,’ is supposedly behind a cryptocurrency heist, where hackers disguised as South Korean government agencies. Per a local report, hackers impersonated as South Korean journalists, government agencies and research institutes. Between...
4 Common Cybersecurity Risks To Your Crypto Wallet
23.11.2023
Crypto wallets are vulnerable to hacking. In 2022, cybercriminals stole 3.8 billion worth of crypto. For this year, it’s still not clear how much crypto has been stolen altogether, but it’s estimated that 1.89 billion has been taken from heists alone. What are some of the common cybersecurity...
Poloniex Hack Analysis: North Korean Hacking Syndicate Lazarus Group Suspected in Wallet Breach
13.11.2023
The North Korea-backed hacker group is thought to be behind the Nov. 10 Poloniex hot wallet breach. A market research platform has said “a leakage of the private key” could be the reason why the hot wallet got breached. Private Key Leakage According to X-explore, a market research...
Hacking Group Allegedly Steals Sensitive Data of 70,000 Customers from Bankrupt Bitcoin ATM Firm Coin Cloud
13.11.2023
Source: iStock / welcomia An unidentified hacking group has purportedly claimed responsibility for a significant security breach targeting Coin Cloud, a Bitcoin ATM operator that once boasted over 4,000 machines in the U.S. and Brazil before filing for bankruptcy in February 2023. The group asserts...
China Criminalizes Stealing NFTs and Digital Collections
10.11.2023
Source: Pixabay The Chinese government has released a statement declaring that anyone caught stealing digital collections, which include digital collectibles such as NFTs, will be subject to criminal penalties. The statement added that the theft of digital collections would also be evaluated...
Bitfinex Customers Targeted in Phishing Attacks After Support Agent Hack
5.11.2023
Bitfinex has experienced a “minor” security incident after one of its customer support agents fell victim to a hacking attempt, leading to several users being targeted in a series of phishing attacks. The crypto exchange said the incident occurred between October 30 and November...
$720 Million Lost via 117 Hacking Incidents in Q3 of 2023 — Study
28.10.2023
During Q3 of 2023, there were a total of 117 hacks in which $720 million was stolen via access control breaches and rug pulls among other security incidents, a new study has found. While the losses ($49.80 million) from rug-pull incidents are significantly lower than the $449 million lost...
TrueUSD's Client Data Exposed in Third-Party Security Breach
17.10.2023
Stablecoin issuer TrueUSD recently fell victim to a third-party security breach that led to the exposure of personally identifiable information of some of its clients.
According to screenshots posted on X of an email allegedly sent by TrueUSD to customers, the breach affected clients who were...
Research Firm Elliptic Links FTX Hack to Russian Attackers
13.10.2023
Research by blockchain intelligence firm Elliptic has revealed potential links between the FTX hacking incident last November, which resulted in an estimated $400 million loss, and Russian-based cybercrime groups.
The majority of the stolen assets, primarily in Ether (ETH), had remained dormant...
Upbit Deflected 879 Hacking Attempts per Day in First Half of the Year
9.10.2023
The exchange is immensely popular in the country and is known for attracting speculative rallies
Crypto Exchange Upbit Faced Over 159,000 Hacking Attempts in H1 2023: Report
9.10.2023
South Korea's largest cryptocurrency exchange, Upbit, was reported to be the target of hacking attempts on over 159,000 occasions during the first half of 2023....
Read More: Crypto Exchange Upbit Faced Over 159,000 Hacking Attempts in H1 2023: Report
Certik Study: $332 Million Lost to Exploits, Hacks and Scams in September, More Than $1.3 Billion Lost in 2023
8.10.2023
In the month of September, digital assets worth approximately $332 million were siphoned from trading platforms via methods that include flash loan attacks, exit scams, and exploits. The value of digital assets stolen through exploits rose from $13.5 million in August to nearly $330 million...
Data Shows North Korean Lazarus Group Has Accumulated Bitcoin Valued Over $40M
25.9.2023
The North Korean hacking group known as Lazarus Group reportedly has holdings of over $47 million in cryptocurrency, with the majority in Bitcoin (BTC).
According to a report from the institutional crypto platform provider 21.co, wallets connected to Lazarus Group contain around 1,600 Bitcoin...
Decentralized Exchange Mixin Kernel Confirms Hack on Its Platform Involving Approximately $200M
25.9.2023
Mixin Kernel confirmed on Sept. 25 that it was the victim of a hacking attack which had resulted in the loss of assets on the mainnet. The decentralized exchange said it has since suspended deposit and withdrawal services and only expects to restore normal services once a probe into the incident...
North Korean Lazarus Group amasses over $40M in Bitcoin, data reveals
25.9.2023
The North Korean hacking collective has at least $47 million in cryptocurrency, including Bitcoin, Ether, Binance Coin and various stablecoins, including Binance USD
North Korean Hackers Use Russian-Based Exchanges to Launder Stolen Crypto, Report
17.9.2023
Hacking groups linked to North Korea are increasingly using exchanges in Russia to launder crypto, Chainalysis revealed. The shift in their strategy, registered by the blockchain forensics firm, coincides with a drop in the value of the stolen cryptocurrency this year in comparison with...