Hacking Financial News

Followers of Ethereum-based staking protocol Rocket Pool’s X account have over the past 24 hours found themselves caught in a web of confusion. Hackers took control of the account and used it to spread misleading information about a supposed smart contract breach.

security breach, resulting in a loss of over $230 million. This incident, the largest of its kind in India to date, has prompted a thorough examination of security measures and investor protections within the burgeoning crypto ecosystem. To dissect the implications and learnings from this event, a panel discussion was held on ETMarkets live stream with industry veterans Dilip Chenoy, Chairman of the Bharat Web3 Association; Ashish Singhal from CoinSwitch; Sumit Gupta from CoinDCX; and Edul Patel, from Mudrex.

blockchain researchers TRM Labs said on Friday. Hackers had stolen more than $1.38 billion worth of crypto by June 24, 2024, compared with $657 million in the same period in 2023, TRM Labs said in a report.

Scammers targeting institutions such as hospitals, schools and government offices for ransom pocketed $1.1 billion last year, compared with $567 million in 2022.

Cryptocurrencies enable people to send money around the world without using the mainstream financial system. The underlying blockchain technology creates a record of transactions where senders and receivers are identified only by their wallet addresses, which are a string of letters and numbers. Chainalysis said the $24.2 billion number is almost certainly an underestimation and will rise as it identifies more illicit addresses. It also said it had doubled its 2022 estimate to $39.6 billion from $20.6 billion. Chainalysis' data only includes crypto-related crime. It said it was impossible to determine from blockchain data alone the volume of cryptocurrency that is the proceeds of non-crypto-related crime, for example when cryptocurrency is the means of payment in drug trafficking.

Amid an ongoing class-action lawsuit related to a $100-million hack in June, the developer of Atomic Wallet has launched a $1-million bug bounty program aimed at identifying security flaws in its wallet software.

Stablecoin issuer TrueUSD recently fell victim to a third-party security breach that led to the exposure of personally identifiable information of some of its clients.

Research by blockchain intelligence firm Elliptic has revealed potential links between the FTX hacking incident last November, which resulted in an estimated $400 million loss, and Russian-based cybercrime groups.

The North Korean hacking group known as Lazarus Group reportedly has holdings of over $47 million in cryptocurrency, with the majority in Bitcoin (BTC).

Hackers have targeted a popular Windows-based software packaging tool to infect computers with crypto mining malware, IT security firm Cisco Talos Intelligence Group has revealed.

Sensitive details about FTX customers were compromised during the security breach at FTX’s bankruptcy claims agent Kroll earlier this month, despite Kroll initially claiming only “non-sensitive” was leaked.

A cybersecurity breach at FTX’s bankruptcy claims agent Kroll has compromised user data from both FTX and the bankrupt crypto lender BlockFi.

A vulnerability in the popular decentralized finance (DeFi) protocol Curve Finance has caused funds to be drained from a number of the protocol’s liquidity pools, while roughly $100 million remains at risk.

Decentralized finance (DeFi) protocol EraLend has lost $3.4 million worth of crypto in a so-called re-entrancy attack.

The decentralized finance (DeFi) protocol Conic Finance has lost more than $3.2 million worth of Ether (ETH) in two separate hacking incidents in recent days

Bitcoin (BTC) is falling out of favour among crypto criminals, and accounted for just 19% of crypto crimes in 2022, a new report has found.

Decentralized finance (DeFi) protocol Sturdy Finance has been exploited, but the team has promised that no further action will be taken against the hackers if the money is returned.

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The U.S. Department of Justice (DOJ) has indicted a Russian man for his alleged participation in several ransomware schemes.

Hackers have stolen as much as $42m worth of crypto from a wallet controlled by the prominent blockchain venture capitalist Bo Shen, founder of Fenbushi Capital.

Cybercriminals have stolen more than $3 billion in cryptocurrency across 125 hacks this year, blockchain analytics firm Chainalysis revealed recently. In 2021, hackers had siphoned off $2.1 billion, it added.