The Layer 2 "Base" network on the Coinbase platform has been the target of a large-scale price manipulation attack. This attack focused on an unverified loan contract, leading to a loss of approximately $1 million.
CertiK Warned of the Attack
Early this morning, CertiK Alert monitoring system informed users on the X platform about the ongoing attack. According to the report, the attack targeted the Base chain and affected an unverified loan contract starting with the address 0x5c52.

According to CertiK’s post on X: "The exploiter manipulated the price of WETH and Sui and gained approximately $1 million in tokens through excessive borrowing." CertiK also noted that the oracle used to verify this loan contract, which was deployed only six days ago, has a liquidity of only around $400,000.

Repeated Contract Manipulation Incident
This attack marks the second similar incident in the last two days. On October 24, suspicious transactions were detected on the Polygon network, affecting an unverified NAS contract with the address 0x5d6084Bf..F36Ac7. In that case, the attacker obtained a large amount of NAS tokens, which were later exchanged for USDT.
Base Has Yet to Comment
The Base platform has not yet commented on the incident. However, on October 30, Base announced the launch of Fault Proofs, which aims to provide a more secure environment by removing trusted third parties. The new update will also allow users to monitor and challenge invalid withdrawals.

#hackers , #cyberattacks , #CoinbaseExchange. , #cybersecurity , #CryptoHack
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,,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.“

The North Korean hacker group Lazarus Group created and promoted a fake game designed to drain users' wallets.
Hackers Exploit Chrome Vulnerability
Lazarus Group, a notorious North Korean hacking group, used a fake blockchain-based game to exploit a "zero-day" vulnerability in Google Chrome. This attack allowed hackers to install spyware that stole wallet login credentials. Analysts from Kaspersky Labs discovered the exploitation in May and promptly reported it to Google, which then fixed the issue.
High Risk of Playing Fake Game
The hackers developed a fully playable multiplayer battle game called DeTankZone or DeTankWar, which used #NFTs. as in-game tanks for global competitions. The game was promoted on platforms like LinkedIn and X (formerly Twitter). Users were infected simply by visiting the website, without needing to download the game.
Hackers deployed malware known as Manuscrypt, along with a newly discovered vulnerability in the V8 JavaScript engine. This vulnerability was the seventh zero-day issue found in Chrome in 2024.
Targeted Attack on Users Worldwide
Boris Larin, a senior security expert at Kaspersky, stated that the hackers invested significant effort into this campaign. He suggested that the true impact could be far-reaching, potentially affecting users and businesses globally.
The fake game was first noticed by Microsoft Security in February. The hackers removed the exploit before Kaspersky could analyze it. Nevertheless, Kaspersky reported the issue to Google, which patched the vulnerability before hackers could reuse it.

North Korea and #Cryptocurrencies
Zero-day vulnerabilities are particularly dangerous because no immediate patch exists. In this case, it took Google 12 days to fix the Chrome vulnerability.
Earlier this year, another Chrome vulnerability was exploited by a different North Korean hacking group to target cryptocurrency holders.

Lazarus Group has a long-standing focus on cryptocurrencies. Between 2020 and 2023, the group laundered over $200 million in crypto from 25 hacks, according to crypto-crime analyst ZachXBT.
History of Lazarus Group Attacks
The U.S. Department of the Treasury stated that #Lazarus Group was responsible for the attack on Ronin Bridge in 2022, which netted over $600 million in cryptocurrency.
#cybersecurity firm Recorded Future discovered that North Korean #hackers stole more than $3 billion worth of cryptocurrency between 2017 and 2023.

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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.“

In a surprising turn of events, the Multichain platform has witnessed a sudden halt in activity, sparking suspicions of a potential hack or rugpull rather than a planned migration. Alarming reports have emerged of multiple bridges being drained, indicating a possible breach in the system's security. However, there is a silver lining as it seems that there is no immediate need to revoke approvals.

https://etherscan.io/tx/0xde3eed5656263b85d43a89f1d2f6af8fde0d93e49f4642053164d773507323f8

The timeline of events paints a concerning picture:

4:21 PM UTC - First Suspicious Transaction: A transaction is sent, raising eyebrows regarding its nature and intent. Link to transaction

6:33 PM UTC - Draining of 30MM WBTC from Multichain Bridge: Disturbingly, a significant amount of Wrapped Bitcoin (WBTC) and other assets are withdrawn from the Multichain bridge. Link to transaction

7:06 PM UTC - PeckShield's Warning: Renowned blockchain security firm, PeckShield, tweets about the situation, further fueling concerns among the crypto community. Link to tweet

7:35 PM UTC - LayerZero Denies Involvement: LayerZero, a prominent blockchain infrastructure provider, confirms that they are not directly involved in the suspicious activities, adding another layer of uncertainty to the situation.

7:46 PM UTC - Drainage of Moonriver Bridge: The draining spree expands as the Multichain Moonriver bridge falls victim to the mysterious transactions. Link to transaction

8:05 PM UTC - Draining of Dogechain Bridge: The Multichain Dogechain bridge becomes the next target of the ongoing drainage, deepening concerns about the extent of the breach. Link to transaction

The series of events has left the cryptocurrency community on edge as they await further information about the motives behind these suspicious activities. The draining of multiple bridges suggests a coordinated effort to siphon funds from the Multichain ecosystem.

Despite the gravity of the situation, there is some relief in the fact that approvals do not require immediate revocation. However, it is crucial for users and stakeholders to exercise caution and closely monitor developments surrounding Multichain to safeguard their assets.

As investigations unfold, the Multichain team must work swiftly to identify the root cause of these incidents, enhance security measures, and provide transparent updates to regain the trust of their users and the wider cryptocurrency community.

#hackers #rugpull #multichain #MULTI $MULTI

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.
#hackers