14 Jul 2022

DeFi Exploits Top $1.8B YTD, Though Security ‘Getting Better’ Immunefi Says

Hacks against decentralized finance protocols have increased almost eightfold when compared to the first quarter of last year, according to DeFi bug bounty platform Immunefi. In Q1 of this year alone, over $1.22 billion has been identified as having been stolen or rugged from budding protocols. That’s a 7.9 times increase

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08 Jul 2022

Crema hackers retain $1.6M after giving back $8M in protocol

Crema hacker who exploited Solana’s liquidity protocol on July 2 was allowed to keep $1.6 million in white hat incentives, but he returned most of the money. The 45,455 Solana (SOL) reward is worth around 16.7 percent of Crema’s lost $9.6 million, forcing the protocol to shut down service. The

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07 Jul 2022

Money laundering within DeFi up by 263% says industry study

Recent analysis of the DeFi sector carried out by CryptoMonday shows that money laundering in the sector has grown by 263% in the first two quarters of 2022. At press time, DeFi protocols have been conduits of up to 69% of funds associated with illicit activity, a significant upsurge from

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06 Jul 2022

Hackers Stole USD 670M from DeFi Projects in Q2, Up by 50% from Q2 2021

Hackers and fraudsters stole a total of USD 670.7m from various crypto protocols during the second quarter of the year, according to a report by major bug bounty and security services platform Immunefi. In 50 instances of both successful and semi-successful hacking attempts, decentralized finance (DeFi) projects lost USD 670,698,280 during

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30 Jun 2022

North Korea is likely culprit behind $100 million crypto heist, researchers say

North Korean state-sponsored hackers were likely the perpetrators of a hack that led to the theft of around $100 million in cryptocurrency, according to analysis from blockchain researchers. The hackers targeted Horizon, a so-called blockchain bridge developed by U.S. crypto start-up Horizon. The tool is used by crypto traders to swap

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28 Jun 2022

The latest trends in hacker attacks and how to deal with them

As the DeFi sector continues to attract money and users, bad actors from around the world continue to view it as an attractive target that is ripe for the picking and poorly protected. Over the last several months, I have been keeping track of some of the most notable exploits of

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28 Jun 2022

Are we helpless against attacks on blockchain bridges?

The past few years have plagued the decentralized finance (DeFi) space with hacks, making critics of blockchain technology take a closer look at how this technology is threatening security. This year started off with a US$600 million hack on Axie Infinity’s Ronin sidechain, followed by a US$325 million attack on

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23 Jun 2022

NFT, DeFi and crypto hacks abound — Here’s how to double up on wallet security

The explosiveness and high dollar value of nonfungible tokens (NFTs) seem to either distract investors from upping their operational security to avoid exploits, or hackers are simply following the money and using very complex strategies to exploit collectors’ wallets. At least, this was the case for me way back when after

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20 Jun 2022

Inverse Finance exploited again for $1.2M in flash loan oracle attack

Just two months after losing $15.6 million in a price oracle manipulation exploit, Inverse Finance has again been hit with a flash loan 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

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13 Jun 2022

Decentralized Crypto Exchange Offline After Hacker Steals $113M

Hackers found a flaw in a decentralized crypto exchange and exploited it to steal an estimated $113 million. On Sunday, the founder and CEO of Maiar—a decentralized exchange (DEX) that bills itself as “the future of money”—and the Elrond blockchain that it runs on, wrote on Twitter that he and his

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