AVAX token falls 10% after BtcTurk, Turkey's leading crypto exchange, suffers a hack, with 1.96M AVAX moved illicitly.
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Hacks
Blockchain Security Firm Certik Returns $3,000,000 in Exploited Funds to Crypto Exchange Kraken
A digital asset security research firm has returned $3 million in funds to crypto exchange Kraken after an unusual saga following a bug bounty program exploit. Yesterday, Kraken chief security officer Nick Percoco said in a lengthy X thread that the exchange was alerted days ago that an “extremely critical” code exploit allowing hackers to artificially […]
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Kraken says its being extorted following bug bounty report
The bug resulted in at least $3 million worth of stolen funds, but no user funds were endangered, according to Kraken.
Cryptocurrency exchange Kraken has revealed that a research team remains in possession of $3 million worth of digital assets it had s recently discovered bug.
An anonymous self-proclaimed ‘security researcher’ found a critical security bug and alerted the cryptocurrency exchange on June 9.
However, two accounts related to the security researcher have exploited the bug to withdraw over $3 million worth of digital assets, according to Nick Percoco, the chief security officer of Kraken.
Crypto hack losses hit $19B, Terraform Labs shuts down: Finance Redefined
Nearly $19 billion worth of digital assets have been lost to exploits in the past 13 years, with $2.9 billion stolen in the largest single crypto theft.
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
In this week’s newsletter, the total losses from crypto hacks and exploits has hit $19 billion over the past 13 years, with 785 reported incidents, and the Solana Foundation has cracked down on validators involved in sandwich attacks on traders.
And, in other major news, Terraform Labs shut down operations entirely and handed over control to the Terra community after its $4.47 billion settlement with the United States Securities and Exchange Commission (SEC).
Crystal Intelligence Report Reveals $19 Billion Lost in Crypto Crimes Over 13 Years
In a comprehensive new report, Crystal Intelligence, a blockchain analytics firm, details a significant $19 billion in losses due to cryptocurrency crimes over the past thirteen years. The study covers a timeline from June 19, 2011, to March 6, 2024, and delves into the various types of criminal activities within the digital currency space. Study […]Norwegian Authorities Return $5,700,000 Worth of Stolen Crypto Assets From 2022 Ronin Network Hack
Norwegian authorities successfully froze and returned $5.7 million worth of crypto assets that were stolen in a massive 2022 hack on the Ronin (RON) network. Ronin is a gaming-focused Ethereum (ETH) sidechain developed by Sky Mavis, the same team that created the non-fungible token (NFT)-based game Axie Infinity (AXS). In March 2022, hackers believed to […]
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Avalanche Core wallet gets Blockaid security integration
The security integration uses Blockaid’s threats database to screen for increasingly sophisticated phishing scams and exploits impacting Web3 users.
Avalanche and Blockaid have announced a partnership to integrate Blockaid’s security features directly into Avalanche’s Core wallet, the blockchain network’s native wallet.
The security upgrade aims to thwart the increasingly sophisticated phishing scams and hacks plaguing decentralized finance by prescreening transactions against Blockaid’s database of known malicious threats and then alerting the user to the threat before the transaction is actually signed and posted. This type of security feature is known as transaction simulation.
Blockaid claims that its security apparatus has helped to repel 1.3 million attacks and is currently used to safeguard products offered by OpenSea, MetaMask, Zerion, Coinbase and Rainbow.
Japanese Crypto Exchange DMM Bitcoin Hacked for More Than $300,000,000 Worth of BTC
The Japanese crypto exchange DMM Bitcoin announced on Friday that it had been hacked for more than $300 million worth of BTC. The exchange said it lost 4502.9 BTC ($305 million) in what the crypto investigative firm Chainalysis called “the seventh-largest crypto hack ever.” DMM Bitcoin announced the hack on Friday morning and promised it […]
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Hackers Targeting 1,500 Banks and Their Customers in Push To Drain Accounts Across 60 Countries: Report
Black hat hackers have reportedly unleashed malicious software targeting over 1,500 banks and their customers worldwide. Security researchers at IBM say a revamped version of the Grandoreiro banking trojan has just rolled out, enabling attackers to perform banking fraud in 60 countries. The malware allows attackers to send email notices that appear to be urgent […]
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Crypto Sector Losses to Hacks and Fraud Are Down 20% Year-on-Year, According to Bug Bounty Platform Immunefi
A new report from bug bounty platform Immunefi shows that crypto losses due to hacks and fraud plummeted over the past year. According to Immunefi, the crypto sector saw 108 specific incidents of hacks and rug pulls in 2024 year-to-date. The financial losses amounted to $473,229,944, or 20% less than the $595,438,324 lost during the […]
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