The post Weekly Crypto Hack Report: Top Hacks and Vulnerabilities You Need to Know appeared first on Coinpedia Fintech News
This week has been historically unstable for the crypto money scene, with cybercriminals taking advantage of weaknesses and penetrating accounts and organizations. Ranging from decentralized exchanges and hardware wallets to social media profiles and even entire blockchain networks, these reveal vulnerabilities while showing there are still dangers lurking in the crypto world.
Clober DEX Exploit on Base Network
A reentrancy attack targeted the decentralized exchange liquidity vault of Clober on the Base Network. It took advantage of the Rebalancer smart contract, focusing on the _burn() method; attackers stole 133.7 ETH worth over $501,000.
Cardano Foundation’s social media hack
The official X account managed by the Cardano Foundation was hacked and unauthorized posts were made. Fortunately, there were no reported losses with regards to money but the event has sparked issues with the safety of social media accounts connected with crypto projects. The foundation also called on followers to ignore posts from the account while the matter was being dealt with.
Hack of Ledger Nano S Sparks on Discussion
A Reddit user recently claimed that hackers stole $2.5 million in digital currencies from their Ledger Nano S hardware wallet, 10 Bitcoin, and $1.5 million in NFTs. Though the user encrypted the seed phrase and avoided the unsafe transactions, he said that the hacking happened after two months when the wallet was idle.
For its part Charles Guillemet, the CTO of Ledger stood his ground in explaining that phishing scams are still very much present, and he took the time to advise users that the company does not ask for the users’ private account information.
A Major Attack on the Dogecoin Network shatters nodes: 69% of them are down
A hacker used a vulnerability called “DogeReaper” and attacked the Dogecoin network, and as a result, 69% of active nodes stopped working. The attack targeted older node versions, bringing the number of active nodes down to 205 from 647, prior to partial recovery to 331. Despite unaffected centralized exchanges and custodians, the attack unveiled profound vulnerability in decentralisation and the robustness of the network.
Gate.io blocked in India
The recent crackdown on cryptocurrencies saw the Indian government shut down access to the Gate.io cryptocurrency exchange company. Huge numbers of users have been impacted and this exchange has not issued any official statement. This development is revealing the increasing regulatory actions in India, which may hinder crypto trading for its citizens.
WallStreetBets X Account Hack
WallStreetBets X’s digital wallets were hacked and the attackers made away with an estimated $2.2M in meme coins of various types: $1.43M PNUT tokens, $400K ZEREBRO tokens, and $130K ALCH tokens. The exploit was about passkey weaknesses present in the mobile application of X.
The post revealed that, sometimes, clicking on links in social media can be risky especially those offering at prices which seem to be too good to be true.
That was all for this week’s hack report, stay tuned as we bring on more from the hacks of the crypto sphere.
