10 Jun 2022

Hacker returns about $15 million to Optimism after sending Ethereum cofounder Vitalik Buterin a chunk of the stolen funds

After stealing about $16 million worth of governance tokens (OP) from the Ethereum scaling solution Optimism, the hacker responsible for the heist returned most of the funds. “Over the past few hours, the address opened a line of communication with Wintermute on-chain and 17mm of 20mm OP has now been returned,”

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09 Jun 2022

Aurora pays $6M bug bounty to ethical security hacker through Immunefi

On Tuesday, Ethereum (ETH) bridging and scaling solution Aurora announced it had paid out a $6 million bounty to ethical security hacker pwning.eth, who discovered a critical vulnerability in the Aurora Engine. The exploit allegedly placed over $200 million worth of capital at risk. The sum was paid in collaboration

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09 Jun 2022

Crypto has entered a bear market in 2022. Here’s how cybercrime and NFT swindles have helped fuel the downturn.

After the digital asset boom in 2021, the market has reversed course this year as investors shed positions in cryptocurrencies and NFTs amid a broader bear market and a slate of high-profile cyber-attacks in the sector. The crypto market has cratered from its peak valuation of $3 trillion in November

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03 Jun 2022

Reports show scammers cashing in on crypto craze

From Super Bowl ads to Bitcoin ATMs, cryptocurrency seems to be everywhere lately. Although it’s yet to become a mainstream payment method, reports to the FTC show it’s an alarmingly common method for scammers to get peoples’ money. Since the start of 2021, more than 46,000 people have reported losing

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31 May 2022

A $90 million DeFi exploit on Terra went unnoticed for seven months

Mirror Protocol appears to be under attack and may have already lost as much as $2 million. The frequency of DeFi hacks has made them almost commonplace in the cryptoverse. However, what is certainly unusual is DeFi protocol exploits worth $90 million going unnoticed for seven months – and yet, that

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27 May 2022

How We Might Overcome DeFi’s Pitfalls

Satoshi Nakamoto imagined a trustless, transparent financial system without the need for intermediaries like banks mediating everyday transactions. Nakamoto’s philosophy reached its zenith with the emergence of smart contracts and decentralized finance (DeFi). The DeFi sector grew significantly, and its total volume locked (TVL) surpassed $250 billion in 2021. Despite turbulent

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25 May 2022

Crypto Hacks Aren’t a Niche Concern; They Impact Wider Society

The attack against the Ronin Network in March was quickly speculated to be one of the largest cryptocurrency hacks of all time. Approximately $540 million was stolen from the cryptocurrency and NFT games company in a combination of USDC and Etherium, with $400 million of the stolen funds owned by

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24 May 2022

These are the flaws that let hackers attack blockchain and DeFi projects

The number of decentralized finance (DeFi) and blockchain projects grew massively during the past year, but their increased popularity has also piqued the interest of cyberattackers – who managed to steal at least an estimated $1.8 billion in 2021. The blockchain is a digital ledger that records transactions in a

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20 May 2022

Collapse of Luna cryptocurrency leads to $11 million exploit on Venus Protocol

Venus Protocol, a decentralized money market, announced on Thursday evening that about $11 million had been lost due to people exploiting the historic collapse of the Luna cryptocurrency and its sister stablecoin UST. The team behind the Venus Protocol released a statement confirming suspicions that had been floating around for hours

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19 May 2022

New Chainalysis tool tracks stolen crypto across multiple chains

Blockchain analytics firm Chainalysis has released a new tool to track transactions across decentralized finance (DeFi) protocols and multiple blockchains. Chainalysis launched a beta version of its Storyline software on Wednesday. Touted as a “Web3-native blockchain analysis tool,” Storyline aims to track and visualize smart contract transactions with a focus on

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