There have been several crypto hacks that happened in November 2023. From Heco exploits to Yearn Finance unexpected Rugpull November, we saw some biggest breaches of all time. Here are some of the major ones: #SAFU

⭕ HTX and Heco Chain hack : Around $115 million so far has been stolen after hackers exploited the HTX exchange and Heco Chain, two cryptocurrency platforms linked to high-profile entrepreneur Justin Sun. HTX, formerly known as Huobi, was targeted by hackers who stole an estimated $30 million worth of cryptocurrencies, the company said in a statement on Wednesday¹. A total of $85.4 million worth of cryptocurrency has been stolen from the Heco Chain, according to market analytics firm CryptoQuant.

🔘 Mixin breach: Crypto platform Mixin suffered a data breach of its cloud service provider, resulting in $200 million in crypto being stolen by hackers. The attack affected over 5,000 user accounts and mainly involved stablecoin USDT and ether. Mixin has not been able to recover the stolen funds, but has promised to compensate half of the losses to its users.

🛑 CoinsPaid phishing scam : Crypto payment processor CoinsPaid was hit by a phishing scam that cost $37 million in crypto . The attackers lured an employee with a fake job offer and installed malware on their device, which gave them access to the CoinsPaid internal infrastructure. The hackers have not been identified, and the funds have not been retrieved.

⭕ Crypto hacks surge in November : According to blockchain security firm CertiK, November has seen a worrying spike in crypto hacks and theft, with losses reaching approximately $173 million so far. This figure represents the fourth-highest monthly total for 2023. Two major hacks account for the bulk of the losses.

♦️ Protocol Hacks & Rug Pull : 

YFI Dropped 43% One Day : A Exit Pool or Systematic Rugpull? 

♦️ What went wrong with $YFI?

Yearn.finance once the face of Decentralized Finance. Recently got a solid growth followed by a sudden 40% dump in minutes. What went wrong with it. 

Yearn Finance Got extraordinary growth in Last few months from 9000$ to 14000$ it spell a healthy 50%. The Active users on-chain also growing at a significant rate but suddenly the price plummed by a Strom and it lost its majority of marketcap fraction of few hours. 

So, what really happened. How once The Face of DeFi melted this bad way let's Find out. 

♦️ Nearly half of the entire supply of YFI is held in 10 wallets. 

♦️ And now this rumour is coming that this was an exit scam by insiders.

♦️ Its market cap also vanished in hours, down from $525 million to $296 million.

♦️ As per data shared by 

@lookonchain, a wallet also transferred 446 YFI ($5.8 million) out, and most of which was deposited to exchanges.

♦️ A whale (@0x7d54)  also sold 96 YFI for 636 ETH ($1.23 million) at a price of $12,893 before YFI plummeted.

The Drama

On 12 Nov, this wallet (0xE94xx) bought these $YFI  and then transferred to wallet (0x6exx) 7 hours ago. 6hours ago this wallet (0x6exx)sent 4.331m$ worth of #YFI to exchange (probably sold out); 

So this wallet (0xE94xx) made  1.2m$ from 725k$. 

@0x7d54 sold his huge $YFI holdings a few minutes prior to the big drop and saved his portfolio, but he boosted the drop significantly with his sells.

On 18 Nov, YFI dumped 37% in 8 hours

At the same time, YFI open interest spiked from $800k to $67m on @dYdX.  The pump and dump of spot YFI prices made it impossible for 

@dYdX to liquidate users at the right price as prices were moving too fast. This meant that as per dydx protocol, the insurance fund has to step in and insure the sloppy slippaged trades. The dydx insurance fund lost $9.5m.

☢️ Kyberswap Hack : How 46M Dollar Stolen in Seconds 

KyberSwap, a decentralized exchange system, recently reported a significant hack. Here are some key details:

♦️ The hack resulted in a loss of approximately $46 million.

♦️ The funds were abruptly transferred from protocol-associated wallets into a single wallet.

♦️ The exploit targeted funds within KyberSwap’s Elastic Pools liquidity solution.

♦️ KyberSwap urged all users to promptly withdraw their funds as a precautionary measure.

♦️ This is not the first time KyberSwap has been targeted. In a previous incident, KyberSwap suffered a frontend exploit, resulting in a loss of $265,000. 

♦️ In response to that incident, KyberSwap offered a 10% bounty — of roughly $40,000 — to the hacker as means to remediate the situation.

⏺️ How The Protocol Was Hacked ?

The reason behind the KyberSwap hack was the exploitation stemming from tick manipulation and double liquidity counting. Similar to the bug that earned 100proof a $1 million bounty, the attacker utilized a flash loan to drain pools with minimal liquidity. By strategically manipulating prices and ticks within targeted pools, they executed various swap steps and cross-tick operations, resulting in the double counting of liquidity and ultimately draining the pools.

⭕ Attack Impact Across Networks

Arbitrum: $20M

Optimism: $15M

Kyber Mainnet: $7.5M

Polygon: $2M

Base: $315K

🔘 Impact Of The Hack 

According to DefiLlama data, KyberSwap’s total value locked (TVL) dropped by 68% in a matter of hours, and about $78 million left the protocol as a result of the attack and user withdrawals. Its TVL is currently $27 million, down from a peak of $134 million in 2023.

☢️ The hacker’s demands

The following appeared in a transaction that the perpetrator purportedly sent: “Dear Kyberswap Developers, Employees, DAO members, and LPs, Negotiations will start in a few hours when I am fully rested. Thank you.” In addition, the perpetrator sought out, “How is Ontario this time of year?”

🛑 2022 Kyberswap Hack 

The KyberSwap hack in September 2022 was a significant event in the DeFi space. Here are some more details about the incident:

♦️ The attacker exploited the frontend of the KyberSwap website. This was different from many DeFi hacks, which typically target smart contracts.

♦️The attacker injected malicious code into its Google Tag Manager, which supports the site’s Google Analytics.

♦️This allowed the hacker to transfer the user’s funds into their own wallet. The malicious code was designed specifically to target whale wallets containing large amounts of cryptocurrency. 

♦️When a user attempted to perform a transaction on the Kyber Network platform using one of these high-value wallets, the malicious code would modify the transaction to include approvals for the attacker’s address.

♦️The attacker could then use these approvals to drain value from the high-value wallets. The attacker successfully stole a total of $265,000 worth of Aave Matic interest-bearing USDC (AMUSDC) in 4 transactions from one wallet on Polygon.

♦️Another wallet was targeted but managed to revoke the malicious approvals before the attacker could use them to drain funds. After the Kyber Network team identified the issue, they disabled the GTM and restored normal operations within two hours.

♦️The affected wallet has also been fully compensated, and, with the help of Binance, has identified two parties involved in the attack.

© This piece of article isn't sponsored by anyone the names are taken only for information purposes. By Declaring this we aren't responsible for any Loses if you pouring money in this project after reading our article. This article should be treated as a piece of information not a financial Advice. #safu

▪️Source: 

(1) HTX, Heco Chain crypto hack: $115 million stolen so far - CNBC. https://www.cnbc.com/2023/11/23/htx-heco-chain-crypto-hack-115-million-stolen-so-far.html.

(2) The 10 Biggest Crypto Hacks and Scams of 2023 - MUO. https://www.makeuseof.com/biggest-crypto-hacks-scams-of-2023/.

(3) Crypto Hacks Surge in November, Losses Total $173 Million. https://www.cryptotimes.io/crypto-hacks-surge-in-november-losses-total-173-million/.