Stay secure in the digital age. This section covers crypto hacks, wallet vulnerabilities, exchange breaches, and blockchain security upgrades. Learn how to protect your assets and understand the threats facing Web3 and DeFi platforms.
As an aftermath of the attack, TAO dropped by 15%, reflecting that holders have entered a panic mode.
Despite the 54.2% decrease in losses from hacks and exploits in June on a monthly basis, losses in the second quarter of 2024 increased by 115% compared to the same period last year.
Several users have reported losses due to this scam in the fake Phantom app. Co-founder of Dubai Blockchain Center, Mende Matthias, reported a $100K theft from his Phantom wallet on June 25, 2024.
Following the hack claims, a new meme coin also surfaced online, albeit too conveniently.
ALEX Lab was attacked last month through a private key compromise leading to a loss of about $4.3 million.
To mitigate the impact on users, Holograph has initiated a compensation and refund program, ensuring that affected users are reimbursed for their losses.
As detailed by Washington DFI, the issues arose when the investor attempted to withdraw some of their initial investment and reported gains.
UwU Lend has yet to publicly acknowledge the second attack and the cause is still unknown.
In addition to compensating the victims, OKX has improved its security measures to prevent similar incidents in the future.
With the growing series of attacks on crypto exchange companies, industry experts could call for stricter security standards within the space and more effective oversight within the cryptocurrency exchanges.
While the exchange grapples with these security challenges, Binance, the leading global crypto exchange, has seen a net inflow of $1.364 billion over the past seven days.
The hacker hasn’t moved the $20 million in DAI stolen or any other cryptocurrencies extracted from the cross-chain bridge.
The CoinGecko attacker has already sent phishing emails to nearly 24k users in less than 24 hours since the incident.
This is not the first time scammers have cloned crypto apps and listed them on popular online marketplaces where users frequently download apps for trading cryptocurrencies.
Despite the defense’s arguments, the court upheld the initial sentence, emphasizing the fraudulent nature of Yang’s scheme.