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Hacks, Bugs and Scams

Hacks, bugs, scams and other things in Moneytech and Web3 that did not go as it was expected

Hacks, Bugs and Scams

Hacks, bugs, scams and other things in Moneytech and Web3 that did not go as it was expected

Coins and tokens   -   Feb 27, 2024 MicroStrategy and RiskOnBlast Incidents Underscore Ongoing Crypto Risks
MicroStrategy and RiskOnBlast Incidents Underscore Ongoing Crypto Risks

With substantial losses incurred due to a recent SIM swap attack and rug-pull, the importance of adopting secure practices and conducting thorough due diligence is as relevant as ever.

Adoption Tools   -   Feb 17, 2024 Chainlink Partners with Telefónica to Detect SIM Swap Attacks With Smart Contracts
Chainlink Partners with Telefónica to Detect SIM Swap Attacks With Smart Contracts API

The collaboration between Chainlink and Telefónica introduces a feature where smart contracts can halt transactions if a recent SIM swap is detected. While this security measure holds promise, its real-world application in existing smart contracts remains to be seen.

Crypto Investment Fraud Booming: FBI Report
Metrics and Signals   -   Mar 11, 2024 FBI Claims Crypto Fraud is Booming: Chainalysis Disagrees

According to the agency, cryptocurrency-related investment fraud rose by 53% in 2023, accounting for around 86% of all investment fraud losses in the U.S.

Sasha Markevich
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Metrics and Signals   -   Mar 11, 2024 FBI Claims Crypto Fraud is Booming: Chainalysis Disagrees
Crypto Investment Fraud Booming: FBI Report

According to the agency, cryptocurrency-related investment fraud rose by 53% in 2023, accounting for around 86% of all investment fraud losses in the U.S.

Sasha Markevich
Coins and tokens   -   Feb 27, 2024 MicroStrategy and RiskOnBlast Incidents Underscore Ongoing Crypto Risks
MicroStrategy and RiskOnBlast Incidents Underscore Ongoing Crypto Risks

With substantial losses incurred due to a recent SIM swap attack and rug-pull, the importance of adopting secure practices and conducting thorough due diligence is as relevant as ever.

Alexander Mardar
Adoption Tools   -   Feb 17, 2024 Chainlink Partners with Telefónica to Detect SIM Swap Attacks With Smart Contracts
Chainlink Partners with Telefónica to Detect SIM Swap Attacks With Smart Contracts API

The collaboration between Chainlink and Telefónica introduces a feature where smart contracts can halt transactions if a recent SIM swap is detected. While this security measure holds promise, its real-world application in existing smart contracts remains to be seen.

Alexander Mardar
Adoption Tools   -   Feb 16, 2024 Legal Framework for Ethical Hackers Enables Faster Intervention
Legal Framework for Ethical Hackers Enables Faster Intervention

Samczsun, a prominent white hat hacker, has developed a framework that safeguards fellow white hats against legal issues. Samczsun's Security Alliance platform also provides a 24/7 emergency hotline for users affected by hacks.

Sasha Markevich
Coins and tokens   -   Feb 14, 2024 PlayDapp Offered ‘White Hat’ Bounty Before Hacker’s Second $290M Strike
PlayDapp Offered ‘White Hat’ Bounty Hacker

A hacker has broken into the PLA token protocol twice in the past five days, generating losses of $290 million for the blockchain gaming firm.

Eva Senzaj Pauram
AI   -   Feb 06, 2024 CFTC Warns Consumers of Rising Risks of ‘AI-powered’ Trading Bots
AI powered crypto bot

Trading platforms claiming to use AI technologies can be dangerous, according to the U.S. authorities.

Sasha Markevich
Coins and tokens   -   Feb 01, 2024 $6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg
$6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg MIM

The network was exploited via a rounding bug. The stablecoin fell to all-time low but is already on the way to recovering its peg to the U.S. dollar.

Sasha Markevich
Ethereum   -   Jan 25, 2024 Ethereum Bug Hits 8% of Validators, Exposes Infrastructure Diversity Issues
Ethereum Bug

Ethereum faces renewed scrutiny over network validators' reliance on the Geth client software. A recent bug has sparked a shift among node operators towards evaluating diverse client software to mitigate similar risks in the future.

Alexander Mardar
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