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Telegram Game on Brand-New Ethereum Layer-2 Scaler Blast Exploited for $4,600,000 in Reported White Hat Hack

The Daily Hodl
Telegram Game on Brand-New Ethereum Layer-2 Scaler Blast Exploited for ,600,000 in Reported White Hat Hack
blast network
Telegram Game on Brand-New Ethereum Layer-2 Scaler Blast Exploited for ,600,000 in Reported White Hat Hack

An unknown entity has exploited a Telegram-based game that runs on the newly launched Ethereum (ETH) layer-2 scaling solution Blast Network. In a post on social media platform X, the team behind the game Super Sushi Samurai (SSS) says token transfers are paused after an attacker exploited a vulnerability that allows exploiters to double their […]

The post Telegram Game on Brand-New Ethereum Layer-2 Scaler Blast Exploited for $4,600,000 in Reported White Hat Hack appeared first on The Daily Hodl.

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Over $1,840,000,000 Lost in Hundreds of Crypto Security Incidents Last Year: Blockchain Security Firm

The Daily Hodl
Over ,840,000,000 Lost in Hundreds of Crypto Security Incidents Last Year: Blockchain Security Firm
bnb
Over ,840,000,000 Lost in Hundreds of Crypto Security Incidents Last Year: Blockchain Security Firm

Blockchain security firm Certik says financial losses related to security incidents in the web3 industry topped over $1.84 billion in 2023. In its annual web3 security report, Certik says there were 751 security incidents last year costing a total of $1,840,879,064, representing a decline of 51% from the $3.7 billion lost in 2022. A larger […]

The post Over $1,840,000,000 Lost in Hundreds of Crypto Security Incidents Last Year: Blockchain Security Firm appeared first on The Daily Hodl.

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Phishing Link Posted to Certik’s X Account After Hacker Compromises Blockchain Security Firm’s Social Media

The Daily Hodl
Phishing Link Posted to Certik’s X Account After Hacker Compromises Blockchain Security Firm’s Social Media
certik
Phishing Link Posted to Certik’s X Account After Hacker Compromises Blockchain Security Firm’s Social Media

A phishing link was posted on the X account of blockchain-focused cybersecurity firm Certik after a bad actor hacked into the protocol’s social media profile. In a new announcement, the cybersecurity company says that a “verified account associated with well-known media” was able to hack into one of their employee’s X accounts, using it to […]

The post Phishing Link Posted to Certik’s X Account After Hacker Compromises Blockchain Security Firm’s Social Media appeared first on The Daily Hodl.

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

OKX Wallet Users Urged To Update iOS After Security Firm Issues Alert of Critical Vulnerability

The Daily Hodl
OKX Wallet Users Urged To Update iOS After Security Firm Issues Alert of Critical Vulnerability
certik
OKX Wallet Users Urged To Update iOS After Security Firm Issues Alert of Critical Vulnerability

Users of OKX Wallet are being warned by blockchain security firm Certik to update their iOS app. Via a post on the social media platform X, Certik says that it has found a Remote Code Execution (RCE) vulnerability within the OKX Wallet app. An RCE is when a hacker can target a computing device and […]

The post OKX Wallet Users Urged To Update iOS After Security Firm Issues Alert of Critical Vulnerability appeared first on The Daily Hodl.

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

November most ‘damaging’ month in 2023 as thieves pilfer $363M in crypto

Coin Telegraph
November most ‘damaging’ month in 2023 as thieves pilfer 3M in crypto
certik

The Poloniex and HTX/Heco Bridge exploits as well as the KyberSwap flash loan attack were the three largest incidents in November, according to blockchain security firm CertiK.

The cryptocurrency industry has now seen its most “damaging” month for crypto thievery, scams and exploits, with crypto criminals walking away with $363 million in November, according to a blockchain security firm.

Around $316.4 million came from exploits alone, flash loans inflicted $45.5 million in damage, and $1.1 million was lost to various exit scams, CertiK stated in a Nov.

The largest exploits in November occurred on Poloniex and HTX/Heco Bridge, with losses of $131.4 million and $113.3 million, respectively.

The third largest exploit was inflicted on a single victim who lost $27 million from a phishing attack.

Meanwhile, the $45 million KyberSwap attack accounted for nearly all damage done for flash loan attacks in the month.

The latest monthly figure has surpassed an earlier record of $329 million, set in September, caused mainly by the $200 million Mixin Network attack.

As of the end of November, about $1.7 billion has now been lost to exploits, exit scams and flash loan attacks in 2023.

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Crypto exchange CoinSpot reportedly suffers $2M hot wallet hack

Coin Telegraph
Crypto exchange CoinSpot reportedly suffers M hot wallet hack
australia crypto exchange

Blockchain security firm CertiK believes the $2.4 million draining of a CoinSpot hot wallet is likely the result of a “private key compromise.”

Australian crypto exchange CoinSpot has reportedly been hacked for $2.4 million in a “probable private key compromise” over at least one of its hot wallets.

According to a Nov. 8 post to his Telegram channel, blockchain sleuth ZachXBT highlighted two transactions entering the alleged hackers wallet. Afterwards, the wallet’s owner bridged the funds to the Bitcoin (BTC) network via ThorChain and Wan Bridge.

In emailed comments to Cointelegraph, blockchain security firm CertiK said the alleged exploit was the result of a “probable private key compromise” on at least one CoinSpot hot wallet.

According to data from Etherscan, a transaction totalling 1,262 Ether (ETH) — worth $2.4 million at current prices — came from a known CoinSpot wallet and entered the alleged hackers wallet.

The presumed attacker stole 1,262 ETH from a known CoinSpot wallet. Source: ZachXBT

The owner of the wallet address that received the 1,262 ETH then began making a series of transfers. In two separate transactions, the wallet’s owner swapped 450 ETH for 24 Wrapped Bitcoin (WBTC) via Uniswap.

The list of transactions made from the alleged attackers' wallet. Source: DeBank

Related: Apple MacOS malware targets crypto community and engineers

Within the next 10 minutes, the address swapped 831 ETH for Bitcoin via Thorchain, sending the Bitcoin to four different wallet addresses, according to CertiK investigative data viewed by Cointelegraph.

A search of Bitcoin explorer BTCScan data, showed the owner of the four Bitcoin wallets distributing the allegedly ill-gained BTC to multiple new wallets, transferring smaller divisions of the funds to additional new wallets each time.

This is a tactic commonly leveraged by attackers to prolong the investigation process — making it more difficult to track the entirety of the stolen funds.

CoinSpot was established in 2013 and currently stands as Australia’s largest crypto exchange by reported user numbers, serving around 2.5 million customers. The exchange is regulated by Australian financial watchdog AUSTRAC and was granted an Australian Digital Currency Exchange License by the regulator.

CoinSpot did immediately respond to a request for comment from Cointelegraph.

Magazine: Beyond crypto — Zero-knowledge proofs show potential from voting to finance

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

September becomes the biggest month for crypto exploits in 2023: CertiK

Coin Telegraph
September becomes the biggest month for crypto exploits in 2023: CertiK
certik

The Mixin Network cross-chain protocol accounted for almost two-thirds of the crypto exploit losses in September.

September has officially become the worst month in 2023 (so far) for crypto-related exploits — with a whopping $329.8 million in crypto stolen.

On Oct. 2, blockchain security firm CertiK said the most significant contributor to the month’s totals came from the Mixin Network attack on Sept. 23 when the Hong Kong-based decentralized cross-chain transfer protocol lost $200 million due to a breach of its cloud service provider.

Other major incidents for the month included the attacks on the CoinEx exchange and Stake.com resulting in losses of $53 million and $41 million respectively.

As reported by Cointelegraph, North Korean hacking collective the Lazarus Group has been fingered for both attacks. The latest figures from Dune Analytics claim that the group currently holds $45.6 million in crypto assets.

The attack has taken the yearly total of crypto lost to exploits to $925.4 million. July was the second-highest month for exploit losses with $285.8 million pilfered.

Meanwhile, the month also saw $1.9 million lost to exit scams, $400,000 to flash loan attacks, and another $25 million to phishing attacks, according to CertiK.

The total lost in 2023 to exploits, scams, and hacks has now totaled $1.34 billion.

Related: North Korean Lazarus Group amasses over $40M in Bitcoin, data reveals

According to blockchain security firm Beosin, total losses from hacks, phishing scams, and exit scams were just under $890 million for the third quarter of 2023.

Losses in Q3 even exceeded the combined sum of the first two quarters which was $330 million in Q1 and $333 million in Q2, it reported late last week.

Magazine: $3.4B of Bitcoin in a popcorn tin: The Silk Road hacker’s story

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Criminals more reliant on cross-chain bridges than ever after mixer crackdowns

Coin Telegraph
Criminals more reliant on cross-chain bridges than ever after mixer crackdowns
Avalanche Bridge

The sanction of cryptocurrency mixer Tornado Cash in August caused the first major shift, but that is now accelerating even faster than projected.

Cybercriminals have accelerated their shift away from crypto mixers for cross-chain bridges over the past year, according to blockchain forensics firm Elliptic.

In June and July, nearly all of the crypto stolen was laundered through cross-chain bridges, Elliptic’s data shows a complete reversal from the first half of 2022.

In a Sept. 18 blog post, Elliptic explained the cross-chain crime trend is due to the “crime displacement” effect — where criminals move to a new method to carry out the illicit activity when the existing method gets over-policed. However, the shift to cross-chain bridges is rising ahead of their projections. 

Proportion of funds laundered between cryptocurrency mixers and cross-chain bridges between January 2022 and July 2023. Source: Elliptic.

Between July and September 2022, the ratio of laundered funds passing through mixers vs. cross-chain bridges flipped, corresponding to the U.S. Office of Foreign Asset Control’s sanctioning of Tornado Cash in August 2022, said the firm.

Elliptic said many cybercriminals, like the North Korean-backed Lazarus Group, flocked to the Avalanche bridge after the sanctions.

This same bridge was reportedly used recently by the Lazarus Group to facilitate some of the stolen funds in Stake’s $41 million exploit on Sept. 4, according to blockchain security firm CertiK.

Crypto mixers saw a small comeback between November 2022 and January 2023, due to the shutdown of RenBridge — which closed in December after its financer, Alameda Research collapsed from FTX’s bankruptcy.

Elliptic estimates that RenBridge facilitated $500 million in laundered funds throughout its operation.

However, shortly after, criminals have moved back to cross-chain bridges again, even more than before.

Related: 3 steps crypto investors can take to avoid hacks by the Lazarus Group

Elliptic said that criminals may be preferring cross-chain bridges as it is difficult for blockchain forensic firms to track illicit activity across chains in a scalable manner.

“Criminals are aware that legacy blockchain analytics solutions do not have the means to trace illicit blockchain activity across blockchains or tokens in a programmatic or scalable manner.”

In addition, many of these stolen tokens are only exchangeable through cross-chain bridges, while most of these DeFi services do not require identity verification to use, Elliptic explained.

The firm estimates that $4 billion in illicit or high-risk cryptocurrencies have been laundered through cross-chain bridges since 2020.

Magazine: $3.4B of Bitcoin in a popcorn tin — The Silk Road hacker’s story

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Hackers behind $41M Stake heist shifts BNB, MATIC in latest move: CertiK

Coin Telegraph
Hackers behind M Stake heist shifts BNB, MATIC in latest move: CertiK
Beosin

A total of $4.8 million in funds have now been moved by the hacker to Bitcoin and now Avalanche.

The hackers behind cryptocurrency casino Stake’s $41 million hack have shifted another $328,000 million worth of Polygon (MATIC) and Binance Coin (BNB) tokens — its latest moves following the Sept. 4 exploit, according to blockchain security firm CertiK.

The most recent transfer involved 300 BNB tokens worth about $61,500 to an externally owned address “0x695…” which were then bridged to the Avalanche blockchain on Sept. 11 at 4:09 pm UTC.

Another 520,000 MATIC tokens worth over $266,000 were also moved to Avalanche seven hours earlier at 7:18 am UTC.

The 520,000 MATIC and 300 BNB — totaling $328,000 — add to the $4.5 million in stolen funds that were bridged to the Bitcoin blockchain (in the form of BTC) on Sept. 7, according to blockchain security firm Arkham.

The total $4.8 million transferred however only represents 1.2% of the total $41 million stolen from the hackers.

It is understood the hacker gained access to the private key of Stake’s Binance Smart Chain and Ethereum hot wallets to perpetrate the hack on Sept. 4.

The United States Federal Bureau of Investigation believes North Korea’s Lazarus Group was behind the exploit.

Estimated funds lost from hacks, scams passes $1 billion

With $41 million stripped from Stake, the industry’s malicious actors have now taken the cryptocurrency hacks and scams toll to well over $1 billion in 2023.

CertiK previously reported the figure to be $997 million at the end of August, though several attacks in the last two weeks will push the figure over the $1 billion mark. 

Related: CertiK drops findings on alleged scammer who stole $1M in crypto

In September, a cryptocurrency whale lost $24 million in staked Ether (ETH) in a phishing attack on Sept. 6, and Vitalik Buterin’s X (formerly Twitter) account was then compromised on Sept. 9, where the hacker then lured several victims into a nonfungible token scam which totaled $691,000.

The three incidents would take CertiK’s August figure to at least $1.04 billion.

Other recent incidents include Pepe (PEPE) coin’s withdrawal incident which set back investors $13.2 million, Exactly Protocol’s $7.3 million exploit and an exposed security vulnerability on Balancer which did $2.1 million in damage.

Magazine: $3.4B of Bitcoin in a popcorn tin — The Silk Road hacker’s story

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more

Coin Telegraph
Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more
certik

Uniswap developer AzFlin has admitted to creating the FRENS token but has argued what he did doesn't constitute a rug pull.

Uniswap dev loses job, was it worth it?

A Uniswap developer known as “AzFlin” has been sacked by the founder of Uniswap Labs, Hayden Adams, for allegedly creating a memecoin and rug pulling it a few hours later for 14 wrapped-Ether (wETH), worth $25,800.

It is understood that AzFlin developed and deployed FrensTech token (FRENS) on Coinbase’s new layer 2 blockchain Base on Aug 12 before selling the tokens raised from the liquidity shortly after.

Adams publicly confirmed the sacking of AzFlin, adding that such behaviour is neither supported nor condoned at Uniswap Labs.

The developer has mocked the situation at hand with a series of light-hearted posts along with a new X (formerly Twitter) cover photo.

AzFlin is making fun of their new unemployment status. Source: X (formerly Twitter).

AzFlin, however, claims that no rug pull was committed.

“I bought that $FRENS used to provide LP with my OWN money from the dev wallet, so I am entitled to do as I please with it. This FUD is outrageous,” they said on Aug. 12.

Not everyone is buying into AzFlin’s story though, with some applauding Adams’ decision to fire AzFlin for the alleged action:

Zuckerberg calls out Musk for dodging cage fight

Meta CEO Mark Zuckerberg says it's “time to move on” from any talks of a potential cage fight between him and Elon Musk, accusing the Tesla CEO of making excuses and dragging his feet on any solid plans.

Zuckerberg explained in an Aug. 13 Threads post that Musk isn’t “serious” about a real fight because Musk has dragged on giving any potential dates for the bout.

“I think we can all agree Elon isn’t serious and it’s time to move on.” Zuckerberg added:

“Elon won’t confirm a date, then says he needs surgery, and now asks to do a practice round in my backyard instead.”

Mark Zuckerberg’s latest comments on a potential fight with fellow billionaire Elon Musk. Source: Threads

Zuckerberg — who has helped re-shaped Meta’s investment focus on the Metaverse and artificial intelligence — said that he will be ready for a fight whenever Musk “gets serious” about a real date and official event.

The Meta CEO said he will continue to focus on competing with those who take the sport seriously for the meantime.

Donald Trump holds Ethereum and NFTs

Financial records have revealed that former United States President Donald Trump owns between $250,001 to $500,000 in Ethereum (ETH).

The statement, which was filed to the United States Office of Government Ethics on April 14, lists “cryptocurrency wallet (Ethereum)” as one of Trump’s investments, according to the 82-page form.

Donald Trump's public financial disclosure report. Source: U.S. Government

The investment may possibly be linked to Trump’s several nonfungible token (NFT) collections which have hit the market on several occasions between 2022 and 2023.

Trump’s NFT venture is expected to rake in between $100,000 and $1 million, according to the financial statement.

Despite the cryptocurrency and NFT investments, the billionaire businessman has voiced his skepticism towards the industry in the past, labeling Bitcoin (BTC) as a “scam” and cryptocurrencies more broadly as “potentially a disaster waiting to happen” in Aug. 2021.

Trump is once again in the running to become the next U.S. President in the upcoming 2024 Presidential Election.

Steadefi hacker turns to Tornado Cash

The exploiter of decentralized finance protocol Steadefi has transferred 100 Ether (ETH), worth about $185,000 to cryptocurrency mixing protocol Tornado Cash, according to blockchain security firm CertiK.

CertiK explained on Aug. 13 that the hacker still holds $786,000 (424 ETH) connected to the Steadefi exploit, which took place on Aug. 7.

A total of $334,000 was drained directly from Steadefi, with total losses amounting to over $1.1 million, according to some estimates.

Tornado Cash has served as a tool for hackers attempting to obfuscate the money trail and cash out the stolen funds.

On Aug. 8, 2022, the United States Office of Foreign Asset Control (OFAC) sanctioned Ethereum and USD Coin (USDC) addresses connected to the privacy tool.

Also making news

United States Senator Cynthia Lummis has filed an amicus brief supporting Coinbase’s motion to dismiss its lawsuit against the U.S. Securities and Exchange Commission. Lummis says the SEC is unrightfully pushing to obtain “primary influence” over the cryptocurrency sector at a time where much regulatory consideration needs to be taken by Congress.

Decentralized finance platform Curve Finance has officially stated on Aug. 11 its intention to reimburse users impacted by the recent hack resulting in $62 million of losses on July 30. The firm has already managed to retrieve 79% of the funds thus far.

Magazine: Girl Gone Crypto thinks ‘BREAKING’ crypto news tweets are boring: Hall of Flame

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Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

Bank of Russia Dismisses US Asset Confiscation Effects on Russia’s Economic Stability

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