The cryptocurrency landscape has faced a tumultuous week, marked by significant breaches and cyber exploits. As digital currencies gain traction, cybercriminals are increasingly seizing opportunities to exploit weaknesses across various platforms. From decentralized exchanges and hardware wallets to social media profiles and entire blockchain networks, the vulnerabilities exposed this week underline the persistent risks in the crypto world.
Clober DEX Exploit on Base Network
The decentralized exchange Clober on the Base Network was hit by a reentrancy attack targeting its liquidity vault. Exploiters manipulated the Rebalancer smart contract by focusing on the _burn() method, successfully stealing 133.7 ETH, valued at over $501,000. Simultaneously, the Cardano Foundation’s official X account was compromised, leading to unauthorized postings. Although no financial losses were reported, this incident underscores the vulnerability of social media accounts linked to cryptocurrency projects. The foundation urged its followers to disregard any suspicious posts while they worked to resolve the issue.
Hack of Ledger Nano S Ignites Discussions
A recent claim by a Reddit user about a $2.5 million theft from their Ledger Nano S hardware wallet has sparked widespread discussion. The stolen assets included 10 Bitcoin and $1.5 million in NFTs. Despite encrypting the seed phrase and avoiding risky transactions, the user reported the breach occurred after the wallet remained idle for two months. Charles Guillemet, CTO of Ledger, emphasized the persistent threat of phishing scams and reassured users that the company never requests private account information.
Dogecoin Network Under Siege: 69% of Nodes Down
A significant attack on the Dogecoin network, dubbed “DogeReaper,” incapacitated 69% of its nodes. Targeting older node versions, the hacker’s actions reduced the active node count from 647 to 205, though partial recovery brought it back to 331. Despite centralized exchanges and custodians remaining unaffected, this attack highlighted the vulnerabilities in the network’s decentralization and robustness.
Gate.io Faces Blockage in India
In a move reflecting the increasing regulatory scrutiny in India, the government has blocked access to the Gate.io cryptocurrency exchange. This action has affected a large number of users, and the exchange has yet to release an official statement. The incident underscores the growing regulatory landscape in India, potentially impacting cryptocurrency trading for its citizens.
WallStreetBets X Account Breach
The WallStreetBets X digital wallets fell victim to hackers, resulting in a loss of approximately $2.2 million in various meme coins, including $1.43M in PNUT tokens, $400K in ZEREBRO tokens, and $130K in ALCH tokens. The breach exploited passkey vulnerabilities within the mobile application. This incident serves as a reminder of the risks associated with clicking on links in social media, especially those offering deals that seem too good to be true.
As we continue to navigate the evolving crypto sphere, stay informed about these breaches and the ongoing efforts to fortify digital security. Your vigilance and awareness remain paramount in safeguarding your digital assets.
