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“Binance did nothing even though it knew of the theft and frequent cross-trading. Hackers manipulated accounts for over an hour, causing extremely abnormal transactions in multiple currency pairs without any risk control; Binance failed to freeze the funds of the obvious hacker’s single account in the platform on time.”
#binance #HackerNews
#binance #HackerNews
Hackers Recovered $3 Million Worth Wallet Password.🙉
In a fascinating turn of events that could easily be part of a Hollywood movie script, a bitcoin owner found themselves locked out of their wallet containing a substantial 43.6 BTC, worth just under $3 million. The plot thickened as the owner sought help from none other than a renowned hacker named Joe Grand, also known as Kingpin in the hacking community.
The intriguing saga, first brought to light by Kim Zetter for Wired, unfolded when the wallet owner, known only as Michael, reached out to Joe Grand in 2022. Joe Grand has gained notoriety for his knack for recovering lost bitcoin from inaccessible wallets. While Grand typically declines such requests due to his primary role as a consultant helping developers secure their systems, the intricate circumstances of Michael's case caught his attention.
The issue was a complex password generated using the RoboForm password manager, encrypted with TrueCrypt. However, a twist of fate led to the encrypted password file getting corrupted with no backup in place. Michael's reluctance to store the password in RoboForm for fear of potential hacking ironically contributed to the predicament.
After meticulous months of work, Grand and his team unearthed a security flaw in an outdated version of RoboForm's password generation mechanism. By exploiting this flaw, they were able to narrow down the search to the password generated on May 15, 2013.
Despite challenges and dead ends, perseverance paid off, leading to the successful recovery of the password. The revelation sparked a significant moment for Michael, allowing access to his bitcoin reserves. Subsequently, Michael cashed out some of the bitcoin, leaving him with 30 BTC to potentially capitalize on the cryptocurrency market's fluctuations.
The tale emphasizes the importance of secure password management and highlights the remarkable skill set of individuals like Joe.
#Megadrop #ETHETFsApproved #MtGox #HackerNews #btc70k
In a fascinating turn of events that could easily be part of a Hollywood movie script, a bitcoin owner found themselves locked out of their wallet containing a substantial 43.6 BTC, worth just under $3 million. The plot thickened as the owner sought help from none other than a renowned hacker named Joe Grand, also known as Kingpin in the hacking community.
The intriguing saga, first brought to light by Kim Zetter for Wired, unfolded when the wallet owner, known only as Michael, reached out to Joe Grand in 2022. Joe Grand has gained notoriety for his knack for recovering lost bitcoin from inaccessible wallets. While Grand typically declines such requests due to his primary role as a consultant helping developers secure their systems, the intricate circumstances of Michael's case caught his attention.
The issue was a complex password generated using the RoboForm password manager, encrypted with TrueCrypt. However, a twist of fate led to the encrypted password file getting corrupted with no backup in place. Michael's reluctance to store the password in RoboForm for fear of potential hacking ironically contributed to the predicament.
After meticulous months of work, Grand and his team unearthed a security flaw in an outdated version of RoboForm's password generation mechanism. By exploiting this flaw, they were able to narrow down the search to the password generated on May 15, 2013.
Despite challenges and dead ends, perseverance paid off, leading to the successful recovery of the password. The revelation sparked a significant moment for Michael, allowing access to his bitcoin reserves. Subsequently, Michael cashed out some of the bitcoin, leaving him with 30 BTC to potentially capitalize on the cryptocurrency market's fluctuations.
The tale emphasizes the importance of secure password management and highlights the remarkable skill set of individuals like Joe.
#Megadrop #ETHETFsApproved #MtGox #HackerNews #btc70k
Shocking News Hackers steal $305M from DMM Bitcoin crypto exchange
Japanese crypto exchange DMM Bitcoin confirmed on Friday that it had been the victim of a hack resulting in the theft of 4,502.9 bitcoin, or about $305 million.
The company also promised that all customers’ Bitcoin deposits “will be fully guaranteed as we will procure the equivalent amount of BTC that was leaked with support from our group companies.”
DMM Bitcoin did not immediately respond to a request for comment.
According to De.Fi, the web3 security firm that tracks crypto thefts and scams, hackers stole around $2 billion in crypto across dozens of cyberattacks and thefts last year. While that is still a gargantuan amount of crypto, the total was the lowest since 2020.
Tom Robinson, chief scientist and co-founder of the crypto research firm Elliptic, said that if DMM's loss turned out to be theft, it would be the eighth largest crypto theft of all time, based on exchange rates at the time it occurred.
Around $1.7 billion was stolen from various cryptocurrency platforms last year, crypto research firm Chainalysis said.
#StartInvestingInCrypto #bitcoin☀️ #HackerNews #Write2Earn!
The company also promised that all customers’ Bitcoin deposits “will be fully guaranteed as we will procure the equivalent amount of BTC that was leaked with support from our group companies.”
DMM Bitcoin did not immediately respond to a request for comment.
According to De.Fi, the web3 security firm that tracks crypto thefts and scams, hackers stole around $2 billion in crypto across dozens of cyberattacks and thefts last year. While that is still a gargantuan amount of crypto, the total was the lowest since 2020.
Tom Robinson, chief scientist and co-founder of the crypto research firm Elliptic, said that if DMM's loss turned out to be theft, it would be the eighth largest crypto theft of all time, based on exchange rates at the time it occurred.
Around $1.7 billion was stolen from various cryptocurrency platforms last year, crypto research firm Chainalysis said.
#StartInvestingInCrypto #bitcoin☀️ #HackerNews #Write2Earn!
🚨 London Arrest: 'Pump Fun' Crypto Hacker Reveals Risks in Ethereum (ETH) Trading Security🚨
The crypto world is buzzing as the hacker behind Pump Fun's $1.9 million attack breaks his silence, shedding light on critical security risks in Ethereum (ETH) trading. 🕵️♂️💥
🔍 Key Developments:
- Hacker Speaks Out: The hacker, known as Jarett Dunn or StaccOverflow, shared details about his arrest on social media, revealing new information about the attack. 💬
- Arrest and Bail:After his arrest in London, Dunn was unexpectedly granted bail and accused the Pump Fun team of even more serious offences. This twist adds a layer of complexity to the case, blending legal and ethical concerns. ⚖️
💡 Deeper Issues Uncovered:
Pump Fun, a Solana-based memecoin trading platform, suffered a major breach on May 16, resulting in nearly $2 million in losses. This incident has spotlighted the security vulnerabilities of meme coin platforms and their susceptibility to internal threats. 🛡️
🚨 Hacker's Allegations:
Dunn accused the platform of operating as an unregistered securities exchange and lacking proper KYC and AML procedures. If proven, these claims could have significant legal implications for similar platforms across the crypto industry. 🔐
🌐 Broader Implications:
The Pump Fun case underscores the complex nature of insider threats within the cryptocurrency sector. Employees with access to critical systems can pose substantial risks, highlighting the need for robust security measures and regulatory oversight. This incident also illustrates the challenges regulators face in ensuring compliance in the fast-evolving digital asset landscape. 🌪️
🚀 Looking Ahead:
As the crypto community watches closely, the Pump Fun saga serves as a stark reminder of the importance of security and regulatory compliance in protecting digital assets.
$BTC $ETH #CryptoSecurity #PumpFun #HackerNews #RegulationMatters #DigitalAssets
The crypto world is buzzing as the hacker behind Pump Fun's $1.9 million attack breaks his silence, shedding light on critical security risks in Ethereum (ETH) trading. 🕵️♂️💥
🔍 Key Developments:
- Hacker Speaks Out: The hacker, known as Jarett Dunn or StaccOverflow, shared details about his arrest on social media, revealing new information about the attack. 💬
- Arrest and Bail:After his arrest in London, Dunn was unexpectedly granted bail and accused the Pump Fun team of even more serious offences. This twist adds a layer of complexity to the case, blending legal and ethical concerns. ⚖️
💡 Deeper Issues Uncovered:
Pump Fun, a Solana-based memecoin trading platform, suffered a major breach on May 16, resulting in nearly $2 million in losses. This incident has spotlighted the security vulnerabilities of meme coin platforms and their susceptibility to internal threats. 🛡️
🚨 Hacker's Allegations:
Dunn accused the platform of operating as an unregistered securities exchange and lacking proper KYC and AML procedures. If proven, these claims could have significant legal implications for similar platforms across the crypto industry. 🔐
🌐 Broader Implications:
The Pump Fun case underscores the complex nature of insider threats within the cryptocurrency sector. Employees with access to critical systems can pose substantial risks, highlighting the need for robust security measures and regulatory oversight. This incident also illustrates the challenges regulators face in ensuring compliance in the fast-evolving digital asset landscape. 🌪️
🚀 Looking Ahead:
As the crypto community watches closely, the Pump Fun saga serves as a stark reminder of the importance of security and regulatory compliance in protecting digital assets.
$BTC $ETH #CryptoSecurity #PumpFun #HackerNews #RegulationMatters #DigitalAssets
