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.
Michael Lewellen, security adviser at the Compound Finance DAO, stated that the Compound Finance URL has been compromised and “is currently hosting a phishing site.
Crypto wallets tied to Huione and its independent merchants have reportedly received no less than $11 billion.
The recent transfers represent a deliberate attempt by the exploiter to launder the stolen funds.
The report also notes that effective incident response strategies have been very vital in reducing losses in Q2 2024.
The hacker is using Tornado Cash to obscure the origin and destination of the transferred ETH.
Crypto investors are advised to remain vigilant and be on the lookout for phishing emails and links.
The attack reportedly took place in late June when Pink Drainer mistakenly sent 10 ETH to the fraudulent address.
In addition to individual attacks on crypto traders, many companies have fallen victim to hacks and other thefts in the last six months.
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.