At the same day FTX and associated companies started bankruptcy proceedings, over $600M of various Ethereum tokens, Solana and Binance Smart Chain tokens being moved from FTX’s official wallets to decentralized exchanges like 1inch. FTX official Telegram channel confirmed the hack.
One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/binance-hack/ The BSC Token Hub is a cross-chain bridge native to Binance that allows users to transfer tokens between the BNB Beacon Chain (BEP2) and BNB Smart Chain (BEP20 or BSC). On October 6, 2022, an attacker interacted with the BSC Token Hub smart contract in a way that…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/wintermute-hack/ On 20 September 2022, Wintermute, one of the leading crypto market makers, lost about $160M in a hack. The hacker made away with more than $61 million in USD Coin [USDC], $29.4 million in Tether [USDT], and 671 wrapped Bitcoin [wBTC] worth more than $13 million. Several other…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/nomad-bridge-hack/ On August 1, DeFi bridge Nomad was hacked for over $190M. The hack involved a total of 960 transactions with 1,175 individual withdrawals from the bridge. The original cause of the attack was that Nomad’s smart contract failed to properly validate the input of the transaction. Once the…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/beanstalk-farms-exploit/ A series of fast transactions involving a $1B flash loan from the Aave protocol along with what must have been the longest 24h wait in the attacker’s life allowed them to take control of a massive pile of BEAN, then use them to generate enough Seed and Stalk…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/axie-infinity-ronin-bridge-hack/ Axie Infinity was at one time the world’s most popular play-to-earn blockchain game. It has its own layer 2 blockchain called Ronin, built on Ethereum. Company behind both is Sky Mavis. Phishing attack through fake job offerings against employees at Sky Mavis led to a successful 51% attack…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/wormhole-bridge-hack/ The Wormhole token bridge experienced a hack on Feb 02, 2002, resulting in the loss of 120,000 Wrapped Ether (wETH) tokens (about $320 million) from the platform. Wormhole is a token bridge that allows users to send and receive crypto between Ethereum, Solana, Binance Smart Chain (BSC), Polygon,…
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Crypto.com, one of the biggest and best known cryptocurrency exchanges in the world announced that 483 of its users were hit in a hack on January 17, leading to unauthorized withdrawals of 443.93 BTC, 4,836.26 ETH, and approximately US$66,200 in other currencies all together worth around $35 million. The hacker was able to approve transactions without the usual two-factor authentication…
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DeFi protocol Grim Finance said about $30 million was stolen this weekend by hackers exploiting a reentrancy vulnerability in their platform. A security flaw in the protocol allowed the attacker to fake five additional deposits. In a statement posted to Twitter on Saturday, Grim Finance said “an advanced attack” was taking place and initially paused all vaults to prevent more…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/bitmart-hack/ BitMart, one of the largest centralized crypto exchanges in terms of daily trading volume, was drained of $196 million. Bitmart confirmed the hack in an official statement, calling it “a large-scale security breach”. Blockchain security and data analytics firm Peckshield was the first to notice the breach, noting that…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/poly-network-hack/ The Poly Network is a DeFi platform that enhances blockchain interoperability by enabling users to transfer information and cryptocurrencies between various blockchains. Through a series of data manipulation techniques in the high-level code of the Ethereum smart contract, the attacker was able to grant himself the necessary permissions…
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On March 4, 2021 Binance Smart Chain-based yield farming protocol Meerkat Finance lost $31 million in user funds – just one day after launching on the Binance Smart Chain. The attacker drained the project’s vaults of $31 million of funds—13.96 million in Binance’s stablecoin, BUSD, and a further 73,000 BNB, Binance’s crypto, worth about $17.4 million. Many users argued that…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/kucoin-hack/ KuCoin is a Singapore-based crypto exchange that consistently ranks among the top 5 exchanges in terms of daily volume serving the crypto markets in Asia. On September 25, 2020, KuCoin suffered one of the biggest crypto hacks. More than 150 different cryptocurrencies made up the loot, which were…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/bitgrail-hack/ On February 8, 2018 Bitgrail, an Italian crypto exchange, that was one of the main portals for trading Nano tokens, claimed it was hacked of 17 million customers owned Nano Tokens worth about $195 Million dollars. But others — including the developers who created the stolen cryptocurrency —…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/coincheck-hack/ On 25th January 2018 Tokyo-based cryptocurrency exchange Coincheck suffered one the biggest hack in the history of cryptocurrencies after the exchange lost about $534 million in digital assets through a hacking attack on their network. The hack affected Bitcoin’s value, resulting in a 5 percent drop on the…
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One of the 12 largest DeFi, Crypto hacks. My summary here: https://crypto.security/crypto-blockchain-security/mtgox-hack/ At the beginning of 2014, Mt Gox, a bitcoin exchange based in Japan, was the largest bitcoin exchange in the world, handling over 70% of all bitcoin transactions worldwide. On 7 February 2014, Mt. Gox stopped all bitcoin withdrawals, claiming that it was merely pausing withdrawal requests “to…
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