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Hacks

DeFi platform bZX sees new $8M hack from one misplaced line of code

The Fulcrum DeFi protocol developed by bZX, which had recently relaunched after a series of hacks in February forced the team to regroup, was hacked once again to the tune of about $8 million.According to the incident disclosure by bZX, the culprit is one line of code placed at the wrong location in the contract for its “iTokens,” the token representing a user’s share in the pool of supplied assets — essentially a...

US warns of resurgence of North Korea’s BeagleBoyz hacking gang

A group of North Korean hackers is engaged in a massive campaign targeting U.S. financial institutions and cryptocurrency exchanges around the world — with US authorities warning of the high level of threat it poses to the country.According to an alert issued by the U.S. Department of Homeland Security (DHS), agencies including the FBI, the U.S. Cyber Command, and the Department of the Treasury are moinotiring the resurgence of the North Korea-sponsored hacking...

DeFi surpasses $7B in locked funds, but just six projects hold 90% of capital

The total value of capital locked in decentralized finance (DeFi) protocols has increased 271% in less than two months to surpass $7 billion for the first time, according to DeFi Pulse.If the current rate of growth continues, DeFi will be worth more than $27 billion by the end of 2020.Aave currently comprises the largest DeFi project with $1.51 billion locked, followed by MakerDAO with $1.42 billion, Curve Finance with ss$1.15 billion, Yearn.finance with...

Ransomware Threatens Production of 300 Ventilators Per Day

The FDA-approved Coronavirus ventilator manufacturer Boyce Technologies has been targeted by ransomware launched by the DoppelPaymer gang, who are  threatening to leak data from the company.Cointelegraph has viewed the DoppelPaymer blog, where the gang lists example files of the data stolen during the attack, including sales and purchase orders, assignment forms, among others.The cybercriminals have threatened that more information will be disclosed next week through the site if an undisclosed crypto ransom is...

$39M of Bitcoin Stolen in 2016 Bitfinex Hack Is on the Move

Some of the 119,756 Bitcoin that was stolen from crypto exchange Bitfinex in 2016 has started moving again. According to a series of tweets posted by Whale Alert on July 27-28, wallet addresses known to be associated with one of the largest breaches ever of a crypto exchange moved 3503 Bitcoin (BTC) — worth roughly $38.7 million — over 12 transactions. The largest individual movement was of 476.32 BTC, or approximately $5.2 million, while the...

The Five Most Malicious Ransomwares Demanding Crypto to Watch Out For

As interconnectivity turns the world into a global village, cyberattacks are expectedly on the rise. According to reports, the tail end of last year saw a spike in the average amount of payments made to ransomware attackers, as several organizations were forced to pay millions of dollars to have their files released by malware attackers.Apart from the fact that the current pandemic has left many individuals and corporations vulnerable to attacks, the notion...

Bancor Discovers Critical Vulnerability, Hacks Itself to Prevent Theft

The newest release of the Bancor decentralized exchange appears to be vulnerable to a very serious bug that can result in a significant loss of user funds.According to the tweet posted by Bancor on June 18, the vulnerability affects the latest version of the BancorNetwork smart contract, which was launched on June 16.Users who traded on Bancor and gave a withdrawal approval to its smart contract are urged to revoke it through a...

The Latest Ransomware Victim Is a NASA Contractor

As SpaceX and NASA celebrated their first human-operated rocket launch on May 30, cybercriminals behind a ransomware known as DopplePaymer launched an attack against one of NASA’s IT contractors.According to a blog post by the hackers, the gang managed to breach the network of the Maryland-based Digital Management Inc, or DMI. This company provides IT and cyber-security services to several Fortune 100 companies and government agencies.DopplePaymer hackers leaked almost 20 archive files belonging to...

Mt. Gox Creditors to Meet Tomorrow As Reimbursement Process Inches Forward

In the latest sign of a step forward in a lengthy compensation process, the infamous hacked Bitcoin (BTC) exchange Mt. Gox appears to be hosting a new meeting for its creditors tomorrow, March 25.In an official announcement posted to the now-defunct exchange’s website on March 24, Mt. Gox’s rehabilitation trustee notified creditors of a new portal through which they will be able to access all documents to be distributed at tomorrow’s meeting.As...

As Ether Price Drop Pressures DeFi, Developers Remain Confident in its Success

Thursday’s market meltdown left MakerDAO (MKR) with a $5 million hole that the project is now scrambling to fill. As this is just the latest in a series of hard blows to decentralized finance (DeFi) projects, some are wondering if the ecosystem can defend itself from collapse.Cointelegraph contacted a variety of industry experts and DeFi stakeholders to hear their take on the health of the ecosystem.Millions lost to attacksThe Coronavirus-induced price crash...
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