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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

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.

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.

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

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
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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
Adoption Tools   -   Dec 17, 2023 The Good, The Bad and The Ugly of the Ledger Hack
The Good, The Bad and The Ugly of the Ledger Hack

The security attack on the Ledger Connect Kit on Thursday showcased not only how vulnerable Web3 is to security issues but also how much the industry has evolved in dealing with challenges.

Eva Senzaj Pauram
DEX   -   Dec 01, 2023 KyberSwap Hacker Demands Full Executive Control: "This is my only offer"
KyberSwap Hacker Demands Full Executive Control: "This is my only offer"

The thief's on-chain "treaty" requests complete authority over Kyber, temporary authority over KyberDAO, as well as all assets owned by the company.

Mathilde Adam
Exchanges   -   Nov 29, 2023 Cyber Attacks Appear to be Rising: What Can the DeFi Industry Do?
Cyber Attacks Appear to be Rising: What Can the DeFi Industry Do?

A recent string of hacks on KyberSwap, Justin Sun-associated platforms and Raft expose deep-seated security flaws and show the need for advanced protection for users and investors.

Mathilde Adam
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