Proactively, the platform has placed a temporary freeze on affected user accounts within the customer claims portal.
The attacker managed to transfer Dai stablecoins twice. The initial transfer was $636,812, followed by a subsequent transfer of $257,527, aggregating to a total stolen amount of around $900,000.
FTX highlighted the pressing concern of potential fraudulent activities and scams and advised users to exercise heightened caution against any emails or communications that may impersonate parties involved in the bankruptcy proceedings.
The protocol will attempt to “socialize” all losses across its platform.
The lack of definitive information raised concerns about the depth of Atomic Wallet’s understanding of the breach and its ability to prevent similar incidents in the future.
The Cresto brother created a false perception of success for their clients and portrayed their flashy lifestyle. Trouble started when Amazon started suspending the client accounts for policy violations.
Zunami may be the latest victim of a flash loan attack, a scheme that has gradually become the bane of existence for many DeFi protocols.
Coinbase, Zengo, and Binance expressed gratitude to Fireblocks for identifying and responsibly disclosing the security issues before any losses occurred.
Following the attack, the Cypher Protocol team highlighted that an internal investigation had been launched to determine the root cause of the exploit.
Crypto scammers are trapping gullible investors by creating replica websites and social media accounts of real-life projects. Later they ask the users to connect their wallets, and siphon off the funds.
Curve Finance fell victim to a reentrancy bug exploit in late July. The incident not only rattled the DeFi community but also exposed the platform to significant risks.
Upbit noted that CRV has experienced increased volatility.
The copycat attacks on the BSC were attributed to a malfunctioning reentrancy lock in certain versions of the Vyper programming language.
As per the preliminary audits, the estimated losses are already north of $42 million with assets worth $100 million under risk.
CrowdStrike confirms that the hack was carried out by the “Labyrinth Chollima” group.