Crypto Exploit Losses Reach $68 Million In May Despite Limited Phishing Damage
Code vulnerabilities were responsible for the bulk of the damage in May — roughly 66% of the month’s total losses, or about $45 million. That breakdown, drawn from data released by blockchain security firm CertiK, came alongside broader figures showing that overall crypto exploit losses fell to $68 million last month, down sharply from $650 […]
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KelpDAO’s $290 million rsETH exploit has moved into a new phase, with LayerZero and Aave now publicly outlining how the incident unfolded, why the damage appears contained, and what it could mean for crypto cross-chain security standards going forward. The central claim from LayerZero is that the exploit was not a failure of the protocol […]
Some initially interpreted the hack as an exploit of the Uniswap V3 protocol, but it was quickly clarified as the result of a phishing campaign. A sophisticated phishing campaign targeting liquidity providers (LPs) of the Uniswap v3 protocol has seen attackers make off with at least $4.7 million worth of Ethereum (ETH). However, the community is reporting the losses could be even greater. Metamask security researcher Harry Denley was one of the first to raise the alarm bells of the attack, telling his 13,000 Twitter followers on July 11 that 73,399 addresses had been sent malicious ERC-20....
Bybit blocked more than $300 million in unauthorized withdrawals during the final quarter of last year — a figure that puts February’s total crypto theft losses in sharp relief. Related Reading: Bitcoin Crosses 20 Million Coins Mined — And Only 1 In 20 Remains According to security firm Nominis, close to $50 million was stolen across the entire crypto industry last month, a fraction of what Bybit alone says it turned away in just three months. Attackers Home In On Human Error The drop from January’s $385 million in losses might look like progress, but security researchers say....
Japanese Bitcoin exchanges and their customers will soon be insured for the first time thanks to a product launched by Tokyo-based insurance firm Mitsui Sumitomo Insurance. As reported by the regional publication Nikkei, coverage will be offered against damages and losses borne out of breaches or hacks, ranging from 10 million yen to 1 billion yen (between $88,000 and $8.8 million approximately). Notably, coverage also includes losses incurred due to internal company mishaps and employee improprieties, a clause which BitPay is certain to favor following a theft of 5,000 bitcoins in 2015....
Uniswap (UNI) has been moving against the general sentiment in the market. As Bitcoin, Ethereum, and larger cryptocurrencies give out their last week’s gains, UNI’s price remains impervious and maintains bullish momentum. Related Reading | TA: Ethereum Breakdown Looks like the Real Deal, $1K Is The Key At the time of writing, Uniswap (UNI) trades at $5.7% and records a 10% profit in the past 7 days and a 32% profit over the last month. In smaller timeframes, UNI’s price has begun to weaken as it displays a 3% loss in the past day. Yesterday, liquidity providers on the platform....