NFT News by Thebittimes.Com

Following the reported breach of Ethereum co-founder Vitalik Buterin's X (formerly Twitter) account, over $691,000 in losses has been inflicted on victims by malicious links. Vitalik Buterin, co-founder of Ethereum (ETH) had his X (formerly Twitter) account compromised, which, according to social media reports, resulted in victims losing over $691,000 through malicious links. In a Sept. 10 post on X, Dmitry Buterin, the father of Vitalik Buterin, announced that his son's account has been compromised: “Disregard this post, apparently Vitalik has been hacked. He is working on restoring access.” The post to which he was referring has since been deleted. It was allegedly made by the hackers on Buterin's account to celebrate the arrival of "Proto-Danksharding on Ethereum." The hacker shared a malicious link to an alleged free commemorative NFT available, enticing victims to connect their wallets, before ultimately leading to the victims losing all their funds. WARN...

DeFi exploits resulted in losses of over $16 million in August. 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, Ethereum staking services have agreed upon a 22% limit on all validators to ensure fair markets. August proved to be another costly month for DeFi as several protocols were collectively exploited for $16 million. In separate exploit news, Balancer protocol lost nearly $900,000 due to a vulnerability flagged months ago. Shibarium’s second launch proved more stable as the layer-2 protocol already has over 100,000 new wallets, and USD Coin (USDC) is set to debut on Coinbase’s layer-2 platform later this week. The DeFi market had another late-week bearish decline due to an overall market fall after news dropped of a delay in the decision on approval of a spot Bitcoin’s spot exchange-traded fund (ETF). Most DeFi tok...

Bridge protocols LayerZero, Celer, Wormhole, LiFi, and others have already committed to implementing the new protocol. Gnosis, the team behind Gnosis Safe multi-sig and Gnosis Chain, has launched a hash oracle aggregator for blockchain bridges, according to an announcement from the company. In a conversation with Cointelegraph, Gnosis CEO Martin Köppelmann stated that the new aggregator should make bridges more secure by requiring more than one bridge to validate a withdrawal before it can be confirmed. Multiple bridge protocols have already committed to integrating with Hashi, including Succinct Labs, DendrETH, ZK Collective, Connext, Celer, LayerZero, Axiom, Wormhole and LI.FI, according to the announcement.  Over $2 billion was stolen from bridges in 2021 and 2022, according to a report by Token Terminal. Bugs in the code have caused some bridge hacks, whereas others have been caused by the attacker taking over a multi-sig governance wallet. According to Köppelmann, Hashi can provi...

Dogecoin, Zcash and Litecoin have already patched the “critical” vulnerability, but hundreds of others may not have, risking billions' worth of crypto. 280 or more blockchain networks are estimated to be at risk of “zero-day” exploits that could put at least $25 billion worth of crypto at risk, according to cyber Security firm Halborn. In a Mar. 13 blog, Halborn warned of the vulnerability it dubbed “Rab13s” — adding it has already worked with some blockchains, such as Dogecoin, Litecoin and Zcash, to institute a fix for it. Halborn discovered massive #ZeroDay impacting Dogecoin and 280+ networks including Litecoin and Zcash, putting over $25 Billion of digital assets at risk! ... — Halborn (@HalbornSecurity) March 13, 2023 Halborn was contracted by Dogecoin in March 2022 to conduct a security review of its codebase and found “several critical and exploitable vulnerabilities.” It later determined those same vulnerabilities “affected over 280 other networks” that risked billi...

Euler Finance became the victim of a flash loan attack where the exploiter managed to drain hundreds of millions worth of decentralized stablecoins and synthetic ERC-20 tokens. Ethereum-based non-custodial lending protocol Eurler finance faced a flash loan attack on March 13, with the attack er managing to steal millions in DAI, USDC, staked Ether (StETH) and wrapped Bitcoin (WBTC). According to on-chain data, the exploiter carried out multiple transactions stealing nearly $196 million as per the last update. On-chain data analytic firm Certik data indicates the exploiter has stolen nearly 43 million in decentralized stablecoin DAI and nearly 93,800 in wrapped Ether (wETH). The ongoing attack has already become the largest hack of 2023.  The breakdown of stolen funds are as follows: Funds stolen from Euler Finance. Source: BlockSec. According to another crypto analytic firm Meta Seluth, the attack er is correlated with the deflation attack that occurred one month ago. The attack e...

An Arbitrum-based algorithmic stablecoin project has fallen prey to a smart contract exploit, seeing $2 million stolen from users. Prospective users of an Arbitrum-based decentralized finance (DeFi) project have been left out of pocket following a $2 million exploit . Web3 security firm CertiK flagged the incident on Feb. 21, following an announcement from the Hope Finance Twitter account notifying users that they had been scammed. #CommunityAlert @hope_fin have announced the community has been scammed for ~$2m making this the largest #exitscam on Arbitrum in 2023. $1.86m was transferred to @TornadoCash. Hope_fin have posted steps for user's to withdraw their staked LPhttps://t.co/hJbFXiKujt — CertiK Alert (@CertiKAlert) February 21, 2023 Details of the project are difficult to come by. The platform’s Twitter account was launched in January 2023 and outlined plans for an algorithmic stablecoin called $HOPE which dynamically adjusts its supply relative to the price of ETH....

A new suite of tools for Web3 businesses targets the safety and security of transactions, websites and smart contacts to combat exploits. A big concern for users in decentralized finance (DeFi) is its susceptibility to exploits. A report from Privacy Affairs revealed hackers stole $4.3 billion worth of cryptocurrency from January to November 2022 — a 37% increase from the previous year. Such exploits harm the integrity of companies and fuel skeptics from outside of the space in their case against cryptocurrencies. However, in a Feb. 2 announcement from Web3 Builders, the company revealed a suite of tools to combat this issue. The initial browser extension TrustCheck was created to flag Web3- related Scams before users continue to interact with them. This new suite of tools builds on that via a Web3 Builders transaction checker, website checker and smart contract checker. Ricky Pellegrini, the CEO of Web3 Builders, said this is an integral moment for the industry to prove its trust...

The BitKeep team confirmed that some APK package downloads have been hijacked by attackers and installed by users. While many are still enjoying the holiday season, hackers are hard at work, draining around $8 million in an ongoing BitKeep wallet exploit.  On Dec. 26, some users of the multichain crypto wallet BitKeep reported that their funds were being drained and transferred while they were not using their wallets . In their official Telegram group, the BitKeep team confirmed that some APK package downloads have been hijacked by some attackers and have been installed with code that was implanted by hackers. They wrote: “If your funds are stolen, the application you download or update may be an unknown version (unofficial release version) hijacked.” As the hack continues, the BitKeep team urged its users to transfer their funds to a wallet that came from official sources like Google Play and the Apple App Store. Apart from this, the team also asked community members to use newly ...

Rumors of a significant hack on the BNB Chain were confirmed by the blockchain's team, with all deposits and withdrawals suspended on the network. Source: https://thebittimes.com/bnb-chain-confirms-bsc-halt-due-to-potential-exploit-tbt25721.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Chain news Post by: TheBitTimes.com