NFT News by Thebittimes.Com

Loading fake wallet apps on search engines is why many people lose coins. According to Bitrace, Telegram often implements malicious backdoors that identify surrogate addresses and cause funds to be sent to malicious addresses. The reason is that the anonymous nature of the blockchain network makes it difficult for ordinary investors and investigators to establish a connection between an on-chain address and a real person. Thereby, they miss the opportunity to freeze losses promptly. “Investors and investigators need to consider how to perceive threats before risky activity occurs, and monitor and promptly recover losses after they occur.” Bitrace Experts note that various search engines are fertile ground for the proliferation of fake websites. Fraudsters use SEO and SEM to promote phishing links online. You might also like: How blockchain security experts investigate hacks | Interview Clipboard hijacking is another classic attack method in which malware takes contro...

Blockchain security firm SlowMist says malicious actors have already exploited the vulnerability in the LDO Token contract on several cryptocurrency exchanges. A blockchain security firm, SlowMist, took to X (formerly Twitter) to warn users about a “known operational issue” in the LDO Token contract , saying the vulnerability has already been exploited on trading platforms without naming them. In an X post published on Sept. 10, the blockchain firm cautioned users about the so-called “fake deposit” attack, which allows bad actors to remotely execute a transfer operation where the requested value is larger than what the victim owns. Specifically, when the LDO token contract executes a transfer operation with a quantity exceeding the user's actual holdings, it doesn't trigger the usual transaction rollback. Instead, it merely returns “false” as the outcome rather than indicating a failure. — SlowMist (@SlowMist_Team) September 10, 2023 Y...

Despite looting $41 million in cryptos, Stake co -founder Ed Craven said the hackers did not compromise private user info or access customer funds during the attack. Edward Craven, co -founder of crypto casino Stake, published preliminary findings from a Sept. 4 incident that the Federal Bureau of Investigation (FBI) says was masterminded by North Korean hackers. Craven wrote in a Medium blog post that the attacker targeted Stake’s ETH/BSC hot wallets. The sports betting platform uses these internet-linked wallets for daily transactions and large customer payouts, according to Craven. Stake’s security team stemmed the unauthorized transactions in four hours, but not before hackers siphoned $41 million in cryptocurrencies.  The exploiters withdrew their booty via Ethereum (ETH), Binance Smart Chain, and Polygon (MATIC). Funds from the attack were later bridged to Bitcoin’s blockchain through a basket of addresses. Craven noted that user info and private customer details were ne...

On July 19, the PleasrDAO’s head of operations announced a Twitter hack that resulted in the takeover of the organization’s account . Moreover, the head of operations Juan PaDulanto also noticed that the account of another team exec, Jamis, was taken over while he was recovering from a traumatic brain injury. He estimates that people lost over $1.2 million through interactions with the fake site/tweets. Zachxbt, a renowned on-chain sleuth and rug pull survivor, points to the address linked to the malicious activity, 0xCb721B27CA670C806A6aAA9AC9DF6D065d24bCd5. It has reportedly been the epicenter of a staggering $1.2 million (equivalent to 654 ETH) theft. Yesterday my associate in pleasing @_jamiis was hacked, and our @pleasrdao account was taken over and it appears people lost over 1.2m USD by interacting with the fake site/tweets Saddens me that this happens on the tail of Jamis recovering from a traumatic brain injury for the… https://t.co/MlXfzauKfq — jAPEs ...

A British hacker , Joseph O’Connor, aka the PlugwalkJoe, has been sentenced to five years in a United States prison for steal ing $794,000 worth of crypto through a SIM swap attack. The SIM swap attack case O’Connor was initially arrested in Spain in July 2021 for his involvement in a SIM swap attack on a crypto exchange executive in 2019. He was later extradited to the United States on April 26, 2023. In May, he pleaded guilty to several charges, including conspiracy to commit computer intrusions, wire fraud, and money laundering. You might also like: Cyber heists in digital playground, school-age hackers steal millions in NFTs The identity of the hacked crypto executive has not been disclosed. Between March and May 2019, O’Connor and his co-conspirators successfully executed SIM swap attacks on three company executives. By gaining unauthorized access to multiple accounts and computer systems, they could steal and divert cryptocurrency worth approximat...

The past few months have been characterized by prolonged downtrends in the crypto market. Amid the bearish environment, October has emerged as the month with the highest crypto scams and hacks, despite being in the 2nd week. The total value of hacks so far this month has surpassed that of March, and around $718 million has been stolen from DeFi protocols across 11 different hacks. Read More: ‘Uptober’ is More like Hacktober: Highest Crypto Hacks in 2022 South Korea keen to fight against crypto-laundering Now, in such an environment, taking action to prevent crypto -related laundering crimes or hack s is the need of the hour. In fact, regulators of different nations have been putting in efforts to protect the larger investor base. Now, according to reports, the five biggest crypto exchanges in South Korea have signed a “crypto crime-fighting” MOU deal with the nation’s police force. Reportedly, they will work with officers to fight against crypto-linked money launderers and ...