According to Odaily, blockchain investigator ZachXBT shared on his Telegram that a hacker who recently infiltrated Andy Ayrey's account sold PNUT tokens way too early for just $6,400. 😱 This hasty move cost the hacker a staggering potential profit of $31.6 million! 💰✨ The wallet linked to this transaction is Gx3uCAS7su6HjVASf74KkPgsU23DP5sg8LmgiHstXmmT.
$PNUT
This incident highlights just how critical timing is in the crypto world. ⏰ By jumping the gun, the hacker missed out on a massive gain, showcasing the wild volatility of digital assets. 📉📈 ZachXBT's reveal of the wallet address adds transparency, enabling the community to keep tabs on the hacker's moves. 🔍
Moreover, this event raises important questions about security in the crypto space. 🔒 As the market expands, the need for robust protective measures becomes even clearer. The hacker’s poor choices serve as a cautionary tale, emphasizing the importance of vigilance and strategic thinking when trading cryptocurrencies. 🧠💪
Stay alert, crypto community! 🚀
#Telegram #Hacker #CryptoSecurity #pnut

The post Hacker Behind KyberSwap Exploit Demands Control of Company appeared first on Coinpedia Fintech News

The hacker behind the $46 million KyberSwap exploit has demanded complete executive control over the Kyber company in exchange for the return of the stolen funds. The hacker also promised to double the salaries of employees and provide liquidity providers with rebates. If the demands are not met by Dec. 10, the hacker will not return the funds.

Coinspeaker Kronos Research Promises $2.5M to Hacker but There’s Catch

Cryptocurrency trading firm Kronos Research has extended what seems like a good-faith gesture to its recent hacker. In mid-November, the Taipei-based investment firm was exploited via stolen API keys.

The crypto trading firm has since taken to its official X page to announce the security breach. It said the breach saw the hacker making away with a total of $25 million, a significant loss for the platform.

In an attempt to calm its users, Kronos issued the following statement via an X post:

“At present, we can confirm that the losses are about $26 million in crypto assets, and despite it being a sizable amount, Kronos remains in good standing. All losses will be covered internally, and no partners will be affected.”

Interestingly, it looks like one way that Kronos intends to cover the losses “internally” is by negotiating with the attacker. A recent message that Kronos sent to the hacker shows the firm requesting that the attacker return 90% of the stolen funds.  This means that they get to keep the remaining 10% to themselves. Kronos also promises that there would be no further action from its end once these conditions are met, Etherscan reveals.

It is not exactly clear whether or not the hacker will choose to return the funds. However, Kronos may have subtly suggested in its message that failure to do so would result in the involvement of relevant authorities on the matter.

Kronos Research Hack: Another Proof of a Growing Trend of Hacker Negotiations

It is worth mentioning that the unfolding events in the Kronos hack point to the fact that public, on-chain negotiations between hackers and their victims have become increasingly common.

Just as with Kronos, KyberSwap also recently gave 10% away to an attacker who recently stole funds from the decentralized exchange. Similarly, Curve Finance did the same in August. It negotiated with hackers via transaction signing and also gave out the same 10%.

Whatever might be the case, these occurrences are gradually becoming a trend. A trend where firms may just unknowingly be encouraging continued bad acting without any serious consequences to these hackers.

To put the above statement into perspective, over $1.2 billion has been stolen from Decentralized Finance (DeFi) protocols. That is so far in 2023 alone, according to DeFiLlama.

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Kronos Research Promises $2.5M to Hacker but There’s Catch

Hackers stole 16.8 bitcoin [BTC] over the weekend after a fake Ledger Live app was posted on the Microsoft app store.

Blockchain analyst ZachXBT said on social media platform X (formerly Twitter) that an additional $180,000 had been stolen across Ethereum and BNB Smart Chain (BSC), bringing the total to $770,000.

On-chain data shows that the hacker received a total of 38 inbound BTC transactions spanning between Oct. 24 and Nov. 5.

The hacker then consolidated those funds before splitting them across numerous wallets in an attempt to cover the trail.

Ledger Live is an app that lets ledger hardware wallet users access and send their assets. It remains unclear how a fake app was approved by the Microsoft store.

Cryptocurrency hacks have been prevalent during the recent rise in asset prices. Last week, hackers managed to siphon $4.4 million worth of crypto from LastPass, a password storage manager that was breached in 2022

Microsoft did not immediately respond to a request for comment.

In a startling incident, the cryptocurrency world has witnessed yet another attempt at fraud. The official Instagram account of the renowned fast-food giant, McDonald's, was recently hacked, leading to the promotion of a fake altcoin to its vast following. This event underscores the critical need for heightened vigilance against cybersecurity risks and scams in the ever-evolving digital landscape.
Unfolding of the Scam
On August 21, 2024, a post from McDonald's official Instagram account caused a significant stir. The account announced the launch of a new altcoin, named GRIMACE, claiming that it had been released on the Solana network. The token quickly gained a market cap of $50 million, only to plummet in value shortly thereafter. It was soon discovered that the announcement was the result of the hacking of McDonald's account. The perpetrators of the scam claimed to have made a staggering $700,000 and expressed their gratitude for the successful heist.
Anatomy of a Rug Pull Scheme
The fraudulent announcements from the compromised account were part of a rug pull scheme, a common tactic employed by malicious actors in the cryptocurrency space. In such scams, bad actors often create fake projects and encourage unsuspecting investors to invest in them. Once the project disappears, investors are left with significant financial losses, as the criminals abscond with the funds.
The exploitation of well-known brand names, such as McDonald's, adds an extra layer of credibility to these scams, making them particularly enticing to unwary investors.
Safeguarding Against Cryptocurrency Scams
This incident serves as a stark reminder that even the most established brands can fall victim to hacking attempts. Investors in the cryptocurrency market must exercise extreme caution and diligence when evaluating investment opportunities, regardless of the source.
It is crucial to verify the authenticity of any announcements or projects, even if they originate from seemingly reputable sources. Thoroughly research the project, the team behind it, and the underlying technology before committing any funds. Relying solely on the reputation of a brand, without proper due diligence, can leave investors vulnerable to devastating losses.
The hacking of McDonald's Instagram account stands as a clear and cautionary tale in the ever-evolving world of cryptocurrency. As the digital landscape continues to expand, the need for heightened cybersecurity awareness and skepticism has never been more pressing. By prioritizing security over profits, investors can navigate the complex and sometimes treacherous cryptocurrency markets with greater confidence and protection.

#Mcdonald’s #GRIMACE #HackerAlert #Hacker #SolanaMemeCoin

Evan Frederick Light faces up to 20 years in prison for each of several charges, including conspiracy to commit wire fraud and money laundering.
A #Hacker who infiltrated corporate servers and stole more than $37 million in cryptocurrency from nearly 600 victims has admitted to #conspiracy charges related to wire #fraud and money laundering.
Crime Through Investment Company Servers
The United States Department of Justice announced on October 1st that Evan Frederick Light, from Indiana, illegally accessed the servers of an investment company to obtain sensitive customer information. He then used this data to steal cryptocurrency from clients who held digital assets with the firm.
Covering Tracks Using Crypto Mixers
Light attempted to cover his tracks by passing the stolen funds through #cryptocurrency mixers and gambling websites to hide his identity and obscure the flow of the money.
On September 30th, he pleaded guilty to the charges, facing up to 20 years in prison for each count.
Conviction and Collaboration with Another Offender
Light was charged on June 15, 2023, in South Dakota, where he initially denied his guilt. The Department of Justice stated that the crimes were committed between 2021 and May 2023. During these activities, Light collaborated with at least one other unidentified co-conspirator.
Strong Warning to Cybercriminals
The Department of Justice emphasized its commitment to apprehending #Cybercriminals . "Although this defendant tried to hide in the shadows of the cyber underworld, our team caught up with him," the department said. These charges serve as a reminder that cybercriminals, no matter how sophisticated, will be brought to justice.
Americans' Losses Due to Crypto Scams
According to an FBI report, Americans lost a total of $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022. The FBI received approximately 69,000 complaints related to cryptocurrency that year. The most affected victims were those over the age of 60. Around 70% of the scams were linked to investment schemes, while 10% involved call center fraud or fake government agents.

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Amid efforts to reclaim over $46 million in stolen assets, DeFi platform Kyber Network has received a stunning ultimatum: forfeit total control of both the company and protocol, and all stakeholders will be made whole.

Via-on chain messaging on Thursday, the platform’s anonymous hacker demanded “complete executive control over Kyber,” alongside temporary ownership and control of its governance mechanism, KyberDAO, to enact governance changes at will.

The New ‘Kyber Director’

To that end, he also requires all documents and information related to Kyber, including details about the company and protocol’s origins, its structure, its investors, and its balance sheet.

“This is my best offer. This is my only offer,“ wrote the hacker, referring to himself as the ‘Kyber Director’.

Under the new arrangement, the culprit still has no plan to directly return any funds.

In fact, he has also demanded the full forfeiture of Kyber’s on-chain and off-chain assets, including “shares, equity, tokens, partnerships, blogs, websites, servers, passwords, code, social channels, and all creative and intellectual property of Kyber.”

Instead, the hacker’s compensation includes buying out Kyber’s executives at “fair valuation” with a good natured farewell. “You haven’t done anything wrong,” he said, noting that their failure was “simply bad luck.”

The company’s employees received an even better offer, including doubled salaries and 12-months severance pay for anyone who still wanted to leave the firm. Meanwhile, holders of Kyber’s governance token, KNC, have merely been promised that their investments will “no longer be worthless.”

Finally, Kyber’s liquidity providers have been offered a 50% rebate on the losses they’ve incurred since the hack during their market-making activity. “I know this is probably less than what you wanted. However, it is also more than you deserve,” the hacker wrote.

Keeping Kyber Alive

Kyber’s executives have been given until December 10 to accept the offer before it expires. Under his leadership, the hacker claims Kyber will evolve from the “7th most popular DEX” into “an entirely new cryptographic project.”

“Kyber is one of the original and longest-running DeFi protocols,” he concluded. “No one wants to see it go under.”

Kyber was first hacked on November 22 for various tokens including Wrapped ETH (WETH) Arbitrum (ARB), DAI, and others.

Ever since, he has repeatedly taunted Kyber’s executives through on-chain messaging, providing exact details on how he executed his hack, and demanding that his counterparties be more respectful.

Kyber retrieved a small portion of its losses from bot operators earlier this week. Nevertheless, its TVL remains at just $7.6 million, compared to $86 million before the hack.

The post Kyber Hacker Demands Total Executive Control Of Company In Return For Stolen Assets appeared first on CryptoPotato.

Blockchain security service ScamSniffer has reported that $32 million worth of tokens went missing after a crypto whale signed off on a malicious transaction.
The loss came in the form of wrapped Ether tokens from decentralized finance (DeFi) protocol Spark. The 12,083 spWETH tokens that were withdrawn from the wallet are worth around $32.4 million in current value.
Over 200,000 people scammed According to blockchain intelligence firm Arkham, the malicious transaction was powered by the Inferno Drainer scam service.
Inferno Drainer, which attempts to trick users into taking control of their finances and targeting popular DeFi apps with fake usage, was spent by ScamSniffer on more than $215 million from more than 200,000 victims, according to a Dune Analytics dashboard.
Inferno’s operators reportedly take a 20 percent commission on the stolen tokens. The service was initially shut down by its developers in November 2023, but returned in May of this year. The scam claims to have 28 different blockchains and different DeFi applications.
The identity of the phisher, who was involved in the incident, has not yet been confirmed, according to crypto detective ZachXBT; however, blockchain detective #zachxbt has identified the budget as a whale named CZSamSun (not to be confused with user X @samczsun, a researcher at venture capital firm Paradigm). ZachXBT’s posts about the incident have everyone intrigued.
A blockchain message sent from the victim’s budget claimed to offer 20 percent points in exchange for the money, but there has been no response yet from the alleged scammer.
#Hacker #BTC #binance #ETH