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Hacks, Bugs and Scams

Hacks, bugs, scams and other things in Moneytech and Web3 that did not go as it was expected

Hacks, Bugs and Scams

Hacks, bugs, scams and other things in Moneytech and Web3 that did not go as it was expected

AI   -   Feb 06, 2024 CFTC Warns Consumers of Rising Risks of ‘AI-powered’ Trading Bots
AI powered crypto bot

Trading platforms claiming to use AI technologies can be dangerous, according to the U.S. authorities.

Coins and tokens   -   Feb 01, 2024 $6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg
$6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg MIM

The network was exploited via a rounding bug. The stablecoin fell to all-time low but is already on the way to recovering its peg to the U.S. dollar.

PlayDapp Offered ‘White Hat’ Bounty Hacker
Coins and tokens   -   Feb 14, 2024 PlayDapp Offered ‘White Hat’ Bounty Before Hacker’s Second $290M Strike

A hacker has broken into the PLA token protocol twice in the past five days, generating losses of $290 million for the blockchain gaming firm.

Eva Senzaj Pauram
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Coins and tokens   -   Feb 14, 2024 PlayDapp Offered ‘White Hat’ Bounty Before Hacker’s Second $290M Strike
PlayDapp Offered ‘White Hat’ Bounty Hacker

A hacker has broken into the PLA token protocol twice in the past five days, generating losses of $290 million for the blockchain gaming firm.

Eva Senzaj Pauram
AI   -   Feb 06, 2024 CFTC Warns Consumers of Rising Risks of ‘AI-powered’ Trading Bots
AI powered crypto bot

Trading platforms claiming to use AI technologies can be dangerous, according to the U.S. authorities.

Sasha Markevich
Coins and tokens   -   Feb 01, 2024 $6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg
$6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg MIM

The network was exploited via a rounding bug. The stablecoin fell to all-time low but is already on the way to recovering its peg to the U.S. dollar.

Sasha Markevich
Ethereum   -   Jan 25, 2024 Ethereum Bug Hits 8% of Validators, Exposes Infrastructure Diversity Issues
Ethereum Bug

Ethereum faces renewed scrutiny over network validators' reliance on the Geth client software. A recent bug has sparked a shift among node operators towards evaluating diverse client software to mitigate similar risks in the future.

Alexander Mardar
Metrics and Signals   -   Jan 21, 2024 Chainalysis Crypto Crime Report: Illicit Activity Down… Possibly?
Chainalysis Crypto Crime Report: Illicit Activity Down… Possibly?

Advance excerpts from the annual Crypto Crime report by Chainalysis suggest that illicit activity fell significantly in 2023, with certain caveats.

Sasha Markevich
Lending and Borrowing   -   Jan 04, 2024 Flash Loan Attack Drains $4.5 Million, Forces Radiant Capital to Pause Operations on Arbitrum
Flash Loan Attack Drains $4.5 Million, Forces Radiant Capital to Pause Operations on Arbitrum

Radiant Capital halted its Arbitrum operations after a $4.5 million flash loan attack, highlighting a vulnerability in the protocol. This exploit reportedly leveraged a rounding error in the Compound/Aave codebase.

Mathilde Adam
Exchanges   -   Dec 30, 2023 First Mt. Gox Repayments Arrive Via PayPal… Twice for Some Users
First Mt. Gox Repayments Arrive Via PayPal… Twice for Some Users

Reportedly, some creditors have received yen payments through PayPal, marking the first funds received after almost 10 years of waiting. However, even this has been tarnished by accidental duplicate payments to some users.

Sasha Markevich
NFT   -   Dec 20, 2023 Christmas Theft Wave Hits NFT Market: Over $4 Million Reported Stolen
Christmas Theft Wave Hits NFT Market: Over $4 Million Reported Stolen

During the past weekend, the NFT Trader platform and Flooring Protocol have both been the targets of security attacks.

Eva Senzaj Pauram
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