Security

Coingecko’s X Accounts Compromised to Announce Fake Token Airdrop

Hackers briefly took over the official X accounts of major crypto data aggregator Coingecko to promote a fake token launch and airdrop. The Coingecko incident became the second X hack within 24 hours after the U.S. Securities and Exchange Commission’s account was also compromised.  Coingecko announced the news of the hack in an X post...
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Ledger Confirms Vulnerability: Over $600K Supposedly Compromised

Cryptocurrency experts, including popular on-chain investigator ZachXBT, took notice of an ongoing vulnerability associated with various Web3 interactions. It turns out that the problem had to do with the library of Ledger – the popular hardware wallet provider. In an official tweet, the company confirmed the vulnerability: We have identified and removed a malicious version...
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Bitcoin Inscriptions Highlighted as Cybersecurity Risk by National Vulnerability Database

In a December 9 announcement, the National Vulnerability Database (NVD) identified a critical vulnerability in Bitcoin’s inscriptions, potentially impacting the Ordinals Protocol developed in 2022. The NVD, overseen by the National Institute of Standards and Technology (NIST), a branch of the U.S. Department of Commerce, plays a crucial role in cataloging and spreading information about...
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Bug Fix Expected to Halt BTC Ordinals and BRC-20 Tokens, Says Bitcoin Dev

A Bitcoin Core developer, Luke Dashjr, asserted that a bug fix on the largest blockchain network could potentially prevent new BTC ordinals and BRC-20 tokens from causing congestion by addressing an alleged vulnerability. The statement comes as Bitcoin approaches the $45,000 mark and a surge in unconfirmed transactions on the blockchain, reigniting the discussion around...
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Web3 Firm Thirdweb Tackles Security Vulnerability in Common Smart Contracts

Thirdweb, a smart contract development firm within the Web3 ecosystem, has discovered a security vulnerability that potentially affects a range of smart contracts across the Web3 landscape. The company offers multichain smart contract deployment tools for various applications such as gaming, minting, marketplaces, and wallets, with a user base of over 70,000 developers. Thirdweb Discloses...
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Velodrome and Aerodrome DEXs Face Frontend Attacks

Velodrome, the second-largest DEX on the Optimism network, and its fork, Aerodrome, the leading DEX on Base, have reported a compromise in their respective frontend systems. Following the incident, both platforms urged users through their social media channels to refrain from interacting with their platforms for the time being. Velodrome and Aerodrome Urge Caution Amid...
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Aave V3 Markets Resume Operations Following Security Vulnerabilities

Aave V3 markets have been unpaused by the Community Guardian, signaling the resolution of the issues that prompted the temporary measures. The move follows the execution of a governance proposal voted on earlier. Additionally, Aave V2 Ethereum is anticipated to be unpaused tomorrow, a decision accelerated due to block times on voting and operational considerations....
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Aave Initiates Vote to Temporarily Disable Stable Borrows Across All Networks

Decentralized finance (DeFi) platform Aave has taken a significant step to bolster security measures, initiating a crucial vote to disable stable borrows on all networks. This proactive move comes in response to a reported attack vector by a white hat, prompting Aave to suspend certain market operations as a precautionary measure temporarily. The platform aims...
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macOS Users Beware: North Korean Hackers On the Prowl

In a recent revelation, Elastic Security Labs has uncovered a sophisticated cyber intrusion by North Korean hackers believed to be associated with the Lazarus group. This incident, tracked as REF7001, involved the use of a new macOS malware named Kandykorn, which has been specifically designed to target blockchain engineers involved in cryptocurrency exchange platforms. North...
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Major Decision? Global Coalition of 40 Nations Unite to Deny Ransom Payments to Cybercriminals

An alliance of forty nations has united under the leadership of the United States to combat the growing threat of cybercrime. In a bold move, a high-ranking White House official introduced the International Counter Ransomware Initiative, which seeks to dismantle the financial lifelines that enable hackers to carry out their criminal activities. Forty Nations Unite...
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BNB Chain Launches Secure Multi-Signature Wallet Service

In an effort to boost security, the BNB Chain has recently introduced a secure multi-signature wallet service known as BNB Safe{Wallet}. This service is built upon the Gnosis Safe protocol and is now accessible on both the Binance Smart Chain (BSC) and opBNB networks. The Gnosis Safe Multisig Wallet The BNB Chain has recently launched...
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The Ripple v. SEC Case So Far: What You Need to Know

District Judge Analisa Torres has dismissed the Securities and Exchange Commission’s (SEC) request to certify an interlocutory appeal aimed at overturning its recent and widely publicized courtroom loss against San Francisco-based blockchain tech company Ripple Labs. While this is a major win for Ripple, the SEC has not lost its ability to appeal. Instead, the...
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SEC Files Opposition to Motion to Dismiss Coinbase Suit, XRP Lawyer Ups Win Odds to 50%

In a predictable move, the SEC filed a motion to oppose Coinbase’s motion to dismiss the case on Oct. 3. “It’s more of the same old same old,” said the exchange’s chief legal officer, Paul Grewal. The SEC sued Coinbase in June, a day after it went after Binance. It accused the firm of selling...
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Balancer Says Frontend Hack Resulted From a Social Engineering Attack

Balancer, an Ethereum-based decentralized protocol, said that the platform regained control of its domain and is secure shortly after hackers attacked its frontend. According to Balancer, a social engineering attack was responsible for the latest incident. Balancer recently suffered a Domain Name System (DNS) attack, with the firm warning users to stay away from the...
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Europol Hails Blockchain’s Unbeatable Independence and Security, Slams DeFi for Soaring Criminal Activity

In what’s described as a rapidly evolving landscape of financial and economic crimes threatening the internal security of the European Union, Europol has applauded the independence and protection offered by blockchain technology. Europol has also raised concerns over the rising criminal activity within decentralized finance (DeFi). Europol Warns of Rising Criminal Activity in DeFi and...
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SEC Chair Gary Gensler Still on Crypto Warpath, Harnessing AI for Surveillance

Things have settled down a little since the SEC’s court losses against Ripple and Grayscale. However, the head of the federal regulator remains committed to crushing the industry by enforcement actions rather than regulation. In written testimony to the Senate Banking Committee on Sept. 12, Gensler said: “There is nothing about the crypto asset securities...
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Balancer Drained for Almost $1M Days After Disclosing Vulnerability

On the 22nd of August, Balancer Labs – a non-custodial portfolio manager, liquidity provider, and price sensor – received reports of a massive vulnerability affecting several of its lending pools. At the time, no attacks had been carried out – but that changed recently. Community Alerted As soon as the exploit was discovered, Balancer devs...
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Moral Hazard: SEC’s War to Blame for Rising Crypto Cybercrime (Opinion)

Crypto cybercrime has been on the rise. Meanwhile, blockchain sleuths just found some big security gaps for crypto exchanges. Maybe the industry is worn out by the SEC’s relentless war on blockchain companies. Thursday, Aug 10, was a black letter day for blockchain security. Binance, Coinbase May Have Left Your Keys out Cyber sleuths at...
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Cypher Protocol Exploited, Will the Hacker Return the Funds? Details

Cypher Protocol, a Solana-based futures DEX, has been forced to pause its smart contract in the wake of an exploit that resulted in a loss of more than $1 million. The Why Late last night, Cypher’s devs announced that they had suffered a “security incident”, resulting in the need to pause their smart contract until...
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Here’s a List of Some of the Tokens the SEC Has Called a Security so Far

The cryptocurrency data aggregator CoinGecko added a new section on its website showing the top 48 crypto assets deemed securities by the US SEC.  The combined market capitalization of those digital currencies is currently over $91 billion, representing 7.5% of the whole $1.21 billion cap.  CoinGecko introduced a new index that tracks the performance of some...
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Ethereum (ETH) Tops $2,000 for First Time in 3 Months on Ripple Victory

ETH prices have skyrocketed over $2,000 for the first time since mid-April following the Ripple victory over the SEC. Ethereum is up just almost 8% on the day, reaching a high of $2,020 during the Friday morning Asian trading session. Furthermore, the asset, which was also deemed a security by Gary Gensler and the SEC,...
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SEC Denies Gensler Leaving Rumors: What Does it Mean for XRP and Other Crypto Assets?

Rapid disinformation attacks are one of the most significant challenges in the digital ecosystem. This time, the alleged resignation of United States Securities and Exchange Commission (SEC) chair Gary Gensler took the internet by storm. The news stories ultimately turned out to be a hoax, much to the crypto community’s disappointment. But at the center...
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ETH Clearly a Commodity According to Ethereum Co-Founder Joseph Lubin

Joseph Lubin (one of Ethereum’s co-founders) said it is clear that Ether (ETH) – is a commodity and not a security. Some regulators in the USA, including the SEC, have been somewhat uncertain regarding the coin’s status. No Doubt That it is a Commodity In a recent interview for Bloomberg, Lubin said it is a “forgone conclusion”...
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ReserveBlock Launches RBX Reserve Accounts as Part of Spartan Wallet Update

In an attempt to improve user experience and introduce major lifestyle upgrades, RBX network is launching a suite of on-chain security features called RBX Reserve Accounts. The push comes as part of its most recent Spartan Wallet Update. It’s aimed at providing users with on-chain recovery, as well as callback features, in a bid to...
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Cardano’s IOG Dismisses SEC’s Claim that ADA is a Security

At the center of the high-stakes case brought by the United States Securities and Exchange Commission is determining which crypto-assets are securities. While the agency has been hinting for some time that it considers most crypto-assets to be unregistered securities, this week’s charges up the ante considerably, much to the industry’s horror. Bitcoin, for one,...
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Value Stolen in Exploits Down By 70% Since Last Year, More Funds Returned (Report)

A good number of high-profile attacks on the crypto ecosystem took place last year, targeting everything and everyone from Phantom wallets to smart contracts themselves. A common choice of target was cross-chain bridges, which allowed hackers to make off with serious bounties, most notably in the case of Harmony. Sharp Decrease in Attacks However, times...
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Clear as Mud: CFTC Chair Says Cryptos Are Commodities, Former Commissioner Says They Can be Both

Speaking on the Unchained podcast on May 23, Dan Berkowitz muddied the regulatory waters even further by stating that crypto assets can be both commodities and securities. The notion goes against the opinion of Securities and Exchange Commission Chair Gary Gensler who asserts they are all securities with investment contracts. Referring to Ethereum, he said...
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$23 Million Worth of Crypto Compromised as Bitrue Exchange Gets Hacked

Cryptocurrency exchange Bitrue was exploited today, with the perpetrator being able to withdraw approximately $23 million worth of cryptocurrency. The exploit was officially confirmed. In a Twitter thread posted today, Bitrue revealed that the exchange suffered a “brief exploit” in one of their hot wallets earlier. 1/4: We have identified a brief exploit in one...
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SEC Sues Beaxy for Operating an Unregistered Securities Platform

The US Securities and Exchange Commission (SEC) alleged that crypto trading platform Beaxy and its executives ran an unregistered securities exchange, broker, and clearing agency. The platform ceased operations a day before the SEC lawsuit. Beaxy Fouder Misappropriated Nearly $1M in Investor Funds In a press release on Wednesday (March 29, 2023), the SEC stated...
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Mac Crypto Trojan Horse Discovered, Apple Chips A Rich Target

Minneapolis-based cybersecurity firm Jamf Threat Labs found a crypto-jacking program well hidden in pirated copies of Apple’s Final Cut Pro. Jamf warns Apple chip speed will make Macs increasingly popular targets for malware attacks. In its report, Jamf said: “During routine monitoring of our threat detections in the wild, we encountered an alert indicating XMRig...
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