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👉👉👉 #SEC Statement on the Hack of Its X Account and the Resulting Fake #BitcoinETF💰💰💰 Approval Announcement In response to the unauthorized access and hacking of its @SECGov X.com account, the U.S. Securities and Exchange Commission (SEC) issued a statement on the incident. The SEC reported that on January 9, 2024, shortly after 4:00 pm ET, an unauthorized party gained control of the @SECGov X.com account by compromising the associated phone number. The intruder posted a fake announcement at 4:11 pm ET, falsely claiming the Commission's approval of spot bitcoin exchange-traded funds, followed by another post saying "$BTC." The second post was deleted, but the first one remained. The unauthorized party also liked two posts from non-SEC accounts. Upon discovering the breach, the SEC took swift action. The Office of Public Affairs posted on the official @garygensler X.com account at 4:26 pm ET, alerting the public to the compromise, the false announcement, and clarifying that the SEC had not approved spot bitcoin exchange-traded products. The SEC staff deleted the unauthorized post, un-liked the two external posts, and, by 4:42 pm ET, made a new post on @SECGov confirming the account compromise. The SEC contacted X.com for assistance in terminating the unauthorized access, and based on current information, the unauthorized access was terminated between 4:40 pm ET and 5:30 pm ET. The SEC is evaluating the #CyberSecurity incident's impact on the agency, investors, and the marketplace. Although no evidence suggests unauthorized access to SEC systems or data, concerns about social media account security are acknowledged. SEC staff is collaborating with law enforcement, including the Office of Inspector General, FBI, and DHS's Cybersecurity and Infrastructure Security Agency. Updates will be provided, emphasizing official announcements on the SEC website, not through social media. Source - coindesk.com #CryptoNews #BinanceSquare
👉👉👉 #SEC Statement on the Hack of Its X Account and the Resulting Fake #BitcoinETF💰💰💰 Approval Announcement

In response to the unauthorized access and hacking of its @SECGov X.com account, the U.S. Securities and Exchange Commission (SEC) issued a statement on the incident. The SEC reported that on January 9, 2024, shortly after 4:00 pm ET, an unauthorized party gained control of the @SECGov X.com account by compromising the associated phone number. The intruder posted a fake announcement at 4:11 pm ET, falsely claiming the Commission's approval of spot bitcoin exchange-traded funds, followed by another post saying "$BTC." The second post was deleted, but the first one remained. The unauthorized party also liked two posts from non-SEC accounts.

Upon discovering the breach, the SEC took swift action. The Office of Public Affairs posted on the official @garygensler X.com account at 4:26 pm ET, alerting the public to the compromise, the false announcement, and clarifying that the SEC had not approved spot bitcoin exchange-traded products. The SEC staff deleted the unauthorized post, un-liked the two external posts, and, by 4:42 pm ET, made a new post on @SECGov confirming the account compromise. The SEC contacted X.com for assistance in terminating the unauthorized access, and based on current information, the unauthorized access was terminated between 4:40 pm ET and 5:30 pm ET.

The SEC is evaluating the #CyberSecurity incident's impact on the agency, investors, and the marketplace. Although no evidence suggests unauthorized access to SEC systems or data, concerns about social media account security are acknowledged. SEC staff is collaborating with law enforcement, including the Office of Inspector General, FBI, and DHS's Cybersecurity and Infrastructure Security Agency. Updates will be provided, emphasizing official announcements on the SEC website, not through social media.

Source - coindesk.com

#CryptoNews #BinanceSquare
🔒🌐 Slowmist's Web3 security report reveals insights! 💡 The week of August 28 to September 3 saw 7 security incidents in the Web3 sector, resulting in approximately $830,000 in losses. Discord channel hijacking incidents are on the rise, though overall damage has decreased compared to the prior week. Notable incidents include mnemonic leaks during Ivan Bianco's live broadcast, Starkware, Babysia Rugful, Lama Finance Discord hack, Balthazar Discord hack, Cordi Finance Rugful, and Bit Browser private key hacking. Stay vigilant about security in the evolving Web3 landscape! 🛡️👁️‍🗨️ #Web3SecurityReport #IncidentInsights #CyberSecurity
🔒🌐 Slowmist's Web3 security report reveals insights! 💡 The week of August 28 to September 3 saw 7 security incidents in the Web3 sector, resulting in approximately $830,000 in losses. Discord channel hijacking incidents are on the rise, though overall damage has decreased compared to the prior week. Notable incidents include mnemonic leaks during Ivan Bianco's live broadcast, Starkware, Babysia Rugful, Lama Finance Discord hack, Balthazar Discord hack, Cordi Finance Rugful, and Bit Browser private key hacking. Stay vigilant about security in the evolving Web3 landscape! 🛡️👁️‍🗨️ #Web3SecurityReport #IncidentInsights #CyberSecurity
🔐🔍 #CertiK, a blockchain security firm, revealed a vulnerability in #WorldCoin's iris scanner, The Orb, that could bypass identity verification 🚫👁️. WorldCoin has since fixed the issue, ensuring user security 🛡️💼. Details to follow at an appropriate time 📅. #CryptoNews #Blockchain #CyberSecurity 🚀🔗
🔐🔍 #CertiK, a blockchain security firm, revealed a vulnerability in #WorldCoin's iris scanner, The Orb, that could bypass identity verification 🚫👁️. WorldCoin has since fixed the issue, ensuring user security 🛡️💼. Details to follow at an appropriate time 📅.

#CryptoNews #Blockchain #CyberSecurity 🚀🔗
🔐 Bitfinex reports a phishing attack, assures system and funds remain unharmed, cooperates with authorities, and reaches out to affected customers. #CyberSecurity #BitcoinWorld 🚫💼📞
🔐 Bitfinex reports a phishing attack, assures system and funds remain unharmed, cooperates with authorities, and reaches out to affected customers. #CyberSecurity #BitcoinWorld 🚫💼📞
🕵️‍♂️ Seoul Metropolitan Police and FBI collaborate to expose North Korean hacking group 'Andariel,' which targeted defense firms, research institutes, and pharmaceutical companies to steal technology, including laser anti-aircraft weapons. The group extorted 470 million won in Bitcoin from affected companies, many of which did not report the attacks due to trust concerns. 💼💻 #CyberSecurity
🕵️‍♂️ Seoul Metropolitan Police and FBI collaborate to expose North Korean hacking group 'Andariel,' which targeted defense firms, research institutes, and pharmaceutical companies to steal technology, including laser anti-aircraft weapons. The group extorted 470 million won in Bitcoin from affected companies, many of which did not report the attacks due to trust concerns. 💼💻 #CyberSecurity
🔓💻 Peckshield reports, "Over 48 major hacking incidents occurred in July, causing approximately $165M in damages (excluding the multi-chain $209M breach). The top 5 incidents represented 95% of July's hacking damage" 📈💰 #CyberSecurity #CryptoNews #Peckshield ⚠️🔗
🔓💻 Peckshield reports, "Over 48 major hacking incidents occurred in July, causing approximately $165M in damages (excluding the multi-chain $209M breach). The top 5 incidents represented 95% of July's hacking damage" 📈💰

#CyberSecurity #CryptoNews #Peckshield ⚠️🔗
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Mumbai Police saves 3 from falling prey to cyber frauds, recovers Rs 17 lakh 😱😱😱 The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the IT Act have been registered against unknown persons. The Mumbai Police along with cyber detection officials saved three people from falling prey to cyber attacks. The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the Information Technology Act have been registered against unknown persons. A total of Rs 17 lakhs has been frozen by the cyber sleuths, sources told India Today. $CYBER #Cyber #CyberAttack #CyberSecurity #fraud
Mumbai Police saves 3 from falling prey to cyber frauds, recovers Rs 17 lakh 😱😱😱

The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the IT Act have been registered against unknown persons.

The Mumbai Police along with cyber detection officials saved three people from falling prey to cyber attacks.

The fraudsters established communication with the victims, won their trust and defrauded them of lakhs of rupees. Different cases under sections for cheating and under the Information Technology Act have been registered against unknown persons.

A total of Rs 17 lakhs has been frozen by the cyber sleuths, sources told India Today.

$CYBER #Cyber #CyberAttack #CyberSecurity #fraud
👉👉👉 Inferno Drainer #Cryptoscam still a threat despite previous shut down: Report In a recent report, Singaporean #CyberSecurity firm Group-IB has shed light on the persistent threat posed by the 'scam-as-a-service' known as Inferno Drainer within the #cryptocurrency realm. The study reveals that since late March 2023, Inferno Drainer, utilizing 16,000 domains for phishing attacks, successfully pilfered $80 million from crypto users. Despite its shutdown in November 2023, the report titled 'Burnout: Inferno Drainer’s multimillion-dollar scam scheme detailed' underscores that the menace still hangs over the crypto market. Inferno Drainer emerged on the scene in November 2022, rapidly evolving into one of the most adept crypto drainers within a year. Functioning as a 'drainer,' this service specialized in stealing cryptocurrencies through various deceptive methods, primarily focusing on phishing attacks. The closure of Inferno Drainer in November 2023, announced by its developers, did not entirely eliminate the threat, as former users could have transitioned to alternative schemes. Group-IB analysts caution that there remains a risk that Inferno Drainer has not been completely eradicated. The report highlights the extensive phishing operation involving 16,000 unique domains, mimicking over 100 crypto brands. Cybercriminals skillfully impersonated popular crypto entities and Web3 protocols like Seaport, WalletConnect, and Coinbase, luring victims to phishing sites. These fraudulent platforms initiated unauthorized transactions by duping users into connecting their accounts, promising financial rewards. The report reveals Inferno Drainer's sophisticated operation crafting fake crypto project websites on platforms like X and Discord. Despite its halt, Group-IB warns of evolving cyber threats in the crypto space, calling for increased vigilance and enhanced security measures. Source - cryptobriefing.com #CryptoNews #BinanceSquare
👉👉👉 Inferno Drainer #Cryptoscam still a threat despite previous shut down: Report

In a recent report, Singaporean #CyberSecurity firm Group-IB has shed light on the persistent threat posed by the 'scam-as-a-service' known as Inferno Drainer within the #cryptocurrency realm. The study reveals that since late March 2023, Inferno Drainer, utilizing 16,000 domains for phishing attacks, successfully pilfered $80 million from crypto users. Despite its shutdown in November 2023, the report titled 'Burnout: Inferno Drainer’s multimillion-dollar scam scheme detailed' underscores that the menace still hangs over the crypto market.

Inferno Drainer emerged on the scene in November 2022, rapidly evolving into one of the most adept crypto drainers within a year. Functioning as a 'drainer,' this service specialized in stealing cryptocurrencies through various deceptive methods, primarily focusing on phishing attacks.

The closure of Inferno Drainer in November 2023, announced by its developers, did not entirely eliminate the threat, as former users could have transitioned to alternative schemes. Group-IB analysts caution that there remains a risk that Inferno Drainer has not been completely eradicated.

The report highlights the extensive phishing operation involving 16,000 unique domains, mimicking over 100 crypto brands. Cybercriminals skillfully impersonated popular crypto entities and Web3 protocols like Seaport, WalletConnect, and Coinbase, luring victims to phishing sites. These fraudulent platforms initiated unauthorized transactions by duping users into connecting their accounts, promising financial rewards.

The report reveals Inferno Drainer's sophisticated operation crafting fake crypto project websites on platforms like X and Discord. Despite its halt, Group-IB warns of evolving cyber threats in the crypto space, calling for increased vigilance and enhanced security measures.

Source - cryptobriefing.com

#CryptoNews #BinanceSquare
Is #ripple 's Security Breach Bigger Than We Thought? Chris Larsen, co-founder of Ripple, recently fell victim to a cyber theft resulting in the loss of $112 million worth of XRP from his accounts. Initially perceived as a targeted attack on an individual's digital assets, the incident has taken a more concerning turn following an investigation by Hacken, a prominent #CyberSecurity firm. Their probe uncovered connections between two compromised wallets and what is referred to as "XRP's authorized wallet," suggesting broader security implications for the #cryptocurrency . Hacken's investigation revealed a complex network of transactions spanning various exchange addresses, with Kraken identified as a key channel for money laundering. Further analysis uncovered a wallet with historical ties to XRP, having previously interacted with the same Kraken wallet in 2020. This wallet was also linked to another account that withdrew funds into a different exchange during the theft. The discovery of two wallets connected to XRP's authorized nest suggests a systemic breach larger than initially thought. In response to the security breach, Larsen confirmed the hacking of several of his personal XRP accounts. Immediate measures were taken to mitigate the impact, including informing exchanges like Binance to block these addresses and involving law enforcement in the investigation. The theft of approximately 213 million XRP has raised significant concerns within the cryptocurrency ecosystem. Amid rumors of a security breach within Ripple's managed wallets, CEO Brad Garlinghouse issued a strong rebuttal. He dismissed the allegations as irresponsible, stating that no wallets managed by Ripple were compromised and highlighting the robustness of their security protocols. However, the incident has led to a shift in market confidence, resulting in fluctuating prices for XRP following the unexpected revelation. Source - coingape.com #CryptoNews #BinanceSquare
Is #ripple 's Security Breach Bigger Than We Thought?

Chris Larsen, co-founder of Ripple, recently fell victim to a cyber theft resulting in the loss of $112 million worth of XRP from his accounts. Initially perceived as a targeted attack on an individual's digital assets, the incident has taken a more concerning turn following an investigation by Hacken, a prominent #CyberSecurity firm. Their probe uncovered connections between two compromised wallets and what is referred to as "XRP's authorized wallet," suggesting broader security implications for the #cryptocurrency .

Hacken's investigation revealed a complex network of transactions spanning various exchange addresses, with Kraken identified as a key channel for money laundering.

Further analysis uncovered a wallet with historical ties to XRP, having previously interacted with the same Kraken wallet in 2020. This wallet was also linked to another account that withdrew funds into a different exchange during the theft. The discovery of two wallets connected to XRP's authorized nest suggests a systemic breach larger than initially thought.

In response to the security breach, Larsen confirmed the hacking of several of his personal XRP accounts. Immediate measures were taken to mitigate the impact, including informing exchanges like Binance to block these addresses and involving law enforcement in the investigation. The theft of approximately 213 million XRP has raised significant concerns within the cryptocurrency ecosystem.

Amid rumors of a security breach within Ripple's managed wallets, CEO Brad Garlinghouse issued a strong rebuttal. He dismissed the allegations as irresponsible, stating that no wallets managed by Ripple were compromised and highlighting the robustness of their security protocols. However, the incident has led to a shift in market confidence, resulting in fluctuating prices for XRP following the unexpected revelation.

Source - coingape.com

#CryptoNews #BinanceSquare
Protecting yourself from scammers is a top priority! Stay informed with our security tips to avoid being a victim. Remember, never share your login details or password with anyone to keep your account safe. #CyberSecurity #StaySafe #safu
Protecting yourself from scammers is a top priority! Stay informed with our security tips to avoid being a victim. Remember, never share your login details or password with anyone to keep your account safe. #CyberSecurity #StaySafe #safu
Learn CyberSecurityLearn #CyberSecurity #cybersecurity is ongoing effort to protect networked systems connected to the Internet and to protect all of the data from unauthorized use or harm. IOTs (Internet of Things) A large network of physical objects including sensors and equipment The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.  CIA Triad Components. The CIA triad refers to an information security model made up of the three main components: confidentiality, integrity and availability.   Confidentiality also called privacy, which means that data access is restricted to authorized personnel only. Ensuring Confidentiality: Data encryption, Username ID and Password, two factor authentication (2FA), etc.   Integrity is the term that indicates accuracy, consistency, and trustworthiness of the data. Methods to ensure integrity File permissions User access control Version control Checksums   Availability is the term that describes the services and data being well maintained and able to be be accessed all the time. #cybersecurity #IOTs Internal security threat refers to attacks originating from within an organization External security threat refers to attacks originating from outside an organization. White hat hacker refers to persons or organizations that break into networks or computer systems to discover weaknesses with the intention to improve the security of these systems Black hat hacker refers to persons or organizations that take advantage of any vulnerability for illegal personal, financial, or political gain Grey Hat hacker refers to person or organizations that exploit the security of a system and bring it to the attention of the owners. Organized attack refers to organizations of cyber criminals, hacktivists, terrorists, and state-sponsored hackers Cyber warfare refers to an Internet-based conflict that involves the penetration of computer systems and networks of other nations Stuxnet refers to a malware program designed to damage the nuclear enrichment plant of Iran, a program which is an example of a state-sponsored attack International Multilateral Partnership Against Cyber Threat (IMPACT) refers to a global partnership of world governments, industries, and academia dedicated to improving global capabilities when dealing with cyber threats   Ethics refers to codes of behavior that are sometimes, but not always, enforced by laws

Learn CyberSecurity

Learn #CyberSecurity

#cybersecurity is ongoing effort to protect networked systems connected to the Internet and to protect all of the data from unauthorized use or harm.

IOTs (Internet of Things) A large network of physical objects including sensors and equipment

The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. 

CIA Triad Components.

The CIA triad refers to an information security model made up of the three main components: confidentiality, integrity and availability.

 

Confidentiality also called privacy, which means that data access is restricted to authorized personnel only. Ensuring Confidentiality: Data encryption, Username ID and Password, two factor authentication (2FA), etc.

 

Integrity is the term that indicates accuracy, consistency, and trustworthiness of the data.

Methods to ensure integrity

File permissions

User access control

Version control

Checksums

 

Availability is the term that describes the services and data being well maintained and able to be be accessed all the time. #cybersecurity #IOTs

Internal security threat refers to attacks originating from within an organization

External security threat refers to attacks originating from outside an organization.

White hat hacker refers to persons or organizations that break into networks or computer systems to discover weaknesses with the intention to improve the security of these systems

Black hat hacker refers to persons or organizations that take advantage of any vulnerability for illegal personal, financial, or political gain

Grey Hat hacker refers to person or organizations that exploit the security of a system and bring it to the attention of the owners.

Organized attack refers to organizations of cyber criminals, hacktivists, terrorists, and state-sponsored hackers

Cyber warfare refers to an Internet-based conflict that involves the penetration of computer systems and networks of other nations

Stuxnet refers to a malware program designed to damage the nuclear enrichment plant of Iran, a program which is an example of a state-sponsored attack

International Multilateral Partnership Against Cyber Threat (IMPACT) refers to a global partnership of world governments, industries, and academia dedicated to improving global capabilities when dealing with cyber threats

 

Ethics refers to codes of behavior that are sometimes, but not always, enforced by laws
🚨 Breaking News: Tellor's X (formerly Twitter) account (@WeAreTellor) has fallen victim to a hacking incident! 😱💔 $TRB Disclaimer: #CyberSecurity threats are a concern in the digital age, and the incident reported here may not reflect the current situation. Stay vigilant and verify information from trusted sources. 📵🔐🤝 🙏 a small LIKE & FOLLOW 🙏 MOTIVATES ME A LOT ❤️
🚨 Breaking News: Tellor's X (formerly Twitter) account (@WeAreTellor) has fallen victim to a hacking incident! 😱💔

$TRB
Disclaimer: #CyberSecurity threats are a concern in the digital age, and the incident reported here may not reflect the current situation. Stay vigilant and verify information from trusted sources. 📵🔐🤝

🙏 a small LIKE & FOLLOW 🙏 MOTIVATES ME A LOT ❤️
**🚨 Breaking News:** 💻 Microsoft's security team has issued a warning about cybercrimes, including illicit cryptocurrency mining, that exploit open standards for access delegation (OAuth). These attacks target accounts with weak security authentication methods, leading to malicious activities like asset theft. To mitigate such threats, Microsoft is urging users to enable multi-factor authentication (MFA), utilize risk detection tools, and consistently bolster their security measures. Stay safe online! 🔒💻🛡 #CyberSecurity #CryptoSecurity
**🚨 Breaking News:** 💻 Microsoft's security team has issued a warning about cybercrimes, including illicit cryptocurrency mining, that exploit open standards for access delegation (OAuth). These attacks target accounts with weak security authentication methods, leading to malicious activities like asset theft. To mitigate such threats, Microsoft is urging users to enable multi-factor authentication (MFA), utilize risk detection tools, and consistently bolster their security measures. Stay safe online! 🔒💻🛡 #CyberSecurity #CryptoSecurity
⚖️🔒 Ilya Dutch Lichtenstein pleads guilty to laundering funds from the 2016 #Bitfinex hack, as reported by CNBC 📰. Charged alongside his wife, Heather Morgan, they allegedly tried to clean 119,000 BTC (~$70M at the time) 💰💼. #CryptoNews #Blockchain #CyberSecurity 🚀🔗
⚖️🔒 Ilya Dutch Lichtenstein pleads guilty to laundering funds from the 2016 #Bitfinex hack, as reported by CNBC 📰. Charged alongside his wife, Heather Morgan, they allegedly tried to clean 119,000 BTC (~$70M at the time) 💰💼.

#CryptoNews #Blockchain #CyberSecurity 🚀🔗
Assessing Web3 Exploit Trends: Decrease in Losses Following November's Surge in Cyber Attacks- Recent Web3 reports highlight substantial losses incurred between December 3 and December 9, amounting to almost $1.91 million. - Several prominent tokens, including Abattoir of Zir (DIABLO) and Strong Finance (STRONG), experienced significant losses, attributed to rug pulls and debacles within the Web3 ecosystem. - SlowMist, in its findings, uncovered the Stargate snapshot scam occurring on December 4, detailed in a separate report, contributing to the broader losses in the Web3 space. In a quarterly web3 report published by CertiK, a blockchain security company, findings reveal a concerning trend: cryptocurrency exploits and hacks led to a loss of over $300 million worth of digital assets during the second quarter of 2023. Analyzing CertiK’s report, a total of 212 security incidents unfolded in the quarter, resulting in a staggering $313,566,528 drained from Web3 protocols. Despite the quarter's lower losses compared to the same period in 2022, our scrutiny reveals a surge in losses attributable to exit scams, totaling around $70 million during this period. Notably, Q2 experienced a decline in losses from Oracle manipulation attacks and flash loans. The previous quarter witnessed 52 oracle manipulation attacks, causing losses of about $222 million, primarily due to the Euler Finance hack constituting over 85% of these losses. Additionally, Q2 observed a 89% drop in losses stemming from 54 flash and oracle manipulation attacks, amounting to around $23 million. Oracle manipulation attacks exploit vulnerabilities in price oracles used by decentralized applications (DApps) and smart contracts, enabling fraudulent activities like price manipulation and transaction misexecution. Meanwhile, flash loan attacks, where individuals leverage uncollateralized lending to manipulate markets, declined in their impact during Q2. CertiK's report highlighted BNB Chain as the most targeted blockchain with 119 incidents, resulting in losses of $70,711,385, followed by Ethereum with over 55 incidents and hackers gaining more than $65,999,953. While Web3's rapid expansion presents incredible opportunities, it also amplifies risks. Stakeholders need heightened vigilance against fraudulent activities that exploit vulnerabilities in the system, underscoring the importance of fortifying defenses to thwart potential cyber threats. Disclaimer: Voice of Crypto aims to provide accurate information but cannot be held liable for missing facts or inaccuracies. Cryptocurrencies are highly volatile; therefore, conducting thorough research is crucial before making financial decisions. #Web3 #Web3Wallet #CyberSecurity #Cyber #cryptonovember

Assessing Web3 Exploit Trends: Decrease in Losses Following November's Surge in Cyber Attacks

- Recent Web3 reports highlight substantial losses incurred between December 3 and December 9, amounting to almost $1.91 million.
- Several prominent tokens, including Abattoir of Zir (DIABLO) and Strong Finance (STRONG), experienced significant losses, attributed to rug pulls and debacles within the Web3 ecosystem.
- SlowMist, in its findings, uncovered the Stargate snapshot scam occurring on December 4, detailed in a separate report, contributing to the broader losses in the Web3 space.

In a quarterly web3 report published by CertiK, a blockchain security company, findings reveal a concerning trend: cryptocurrency exploits and hacks led to a loss of over $300 million worth of digital assets during the second quarter of 2023.
Analyzing CertiK’s report, a total of 212 security incidents unfolded in the quarter, resulting in a staggering $313,566,528 drained from Web3 protocols.
Despite the quarter's lower losses compared to the same period in 2022, our scrutiny reveals a surge in losses attributable to exit scams, totaling around $70 million during this period.
Notably, Q2 experienced a decline in losses from Oracle manipulation attacks and flash loans. The previous quarter witnessed 52 oracle manipulation attacks, causing losses of about $222 million, primarily due to the Euler Finance hack constituting over 85% of these losses.
Additionally, Q2 observed a 89% drop in losses stemming from 54 flash and oracle manipulation attacks, amounting to around $23 million. Oracle manipulation attacks exploit vulnerabilities in price oracles used by decentralized applications (DApps) and smart contracts, enabling fraudulent activities like price manipulation and transaction misexecution.
Meanwhile, flash loan attacks, where individuals leverage uncollateralized lending to manipulate markets, declined in their impact during Q2.
CertiK's report highlighted BNB Chain as the most targeted blockchain with 119 incidents, resulting in losses of $70,711,385, followed by Ethereum with over 55 incidents and hackers gaining more than $65,999,953.
While Web3's rapid expansion presents incredible opportunities, it also amplifies risks. Stakeholders need heightened vigilance against fraudulent activities that exploit vulnerabilities in the system, underscoring the importance of fortifying defenses to thwart potential cyber threats.
Disclaimer: Voice of Crypto aims to provide accurate information but cannot be held liable for missing facts or inaccuracies. Cryptocurrencies are highly volatile; therefore, conducting thorough research is crucial before making financial decisions.

#Web3 #Web3Wallet #CyberSecurity #Cyber #cryptonovember
🚨 Circle and Tether Freeze Over $65M in Assets Transferred from Multichain 🚨 Over $65 million in assets, including USD Coin (USDC) and Tether (USDT), have been frozen due to unexplained large outflows from the Multichain MPC bridge. The abnormal transfer of over $125 million worth of cryptocurrencies from multiple wallets on July 6 has impacted various ecosystems, including those of Dogechain, Moonriver, Kava, and Conflux. Multichain has temporarily suspended its services, and investigations into the incident are ongoing. The transfer of funds to the alleged attacker’s wallets has raised questions since the assets were not further transferred elsewhere, suggesting a non-typical hack. Multichain’s bridges, like many similar systems, are vulnerable targets for crypto hackers. #CyberSecurity #crypto2023 #Binance
🚨 Circle and Tether Freeze Over $65M in Assets Transferred from Multichain 🚨

Over $65 million in assets, including USD Coin (USDC) and Tether (USDT), have been frozen due to unexplained large outflows from the Multichain MPC bridge. The abnormal transfer of over $125 million worth of cryptocurrencies from multiple wallets on July 6 has impacted various ecosystems, including those of Dogechain, Moonriver, Kava, and Conflux.

Multichain has temporarily suspended its services, and investigations into the incident are ongoing. The transfer of funds to the alleged attacker’s wallets has raised questions since the assets were not further transferred elsewhere, suggesting a non-typical hack. Multichain’s bridges, like many similar systems, are vulnerable targets for crypto hackers.

#CyberSecurity
#crypto2023
#Binance
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