hack
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Cryptocurrency
Former Fortnite Star Serpent Involved in $3.5M Rug Pull Fraud
In a shocking turn of events, an individual known by the pseudonym ‘Serpent,’ once celebrated as a professional Fortnite player from Australia, has been embroiled in a significant cryptocurrency scam. This scam is believed to have defrauded unsuspecting victims of a staggering $3.5 million. Serpent’s journey in the esports world is noteworthy, having been part of a prominent organization until June 2020, when his career was derailed due to a…
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Cryptocurrency
Utah Judge Denies Appeal in $18M Cryptocurrency Fraud Case Involving Promoter
In a significant development in the ongoing battle against cryptocurrency fraud, a federal judge in Utah has dismissed an appeal by Kristoffer Krohn. Krohn, a prominent figure linked to an $18 million cryptocurrency fraud involving Green United LLC, faced a setback on November 26. Judge Ann Marie McIff Allen ruled against Krohn’s appeal, supporting her previous decision to allow the U.S. Securities and Exchange Commission (SEC) to pursue its legal…
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Cryptocurrency
Misappropriated Money Starts Filtering into SOL
In a recent cybersecurity incident, attackers who targeted the decentralized exchange platform DEXX have resumed their activities. After a week of silence, these hackers have begun converting the stolen altcoins into Solana (SOL) in significant amounts, as reported by MistTrack, a prominent cybersecurity firm. This troubling development follows a major security breach that left both DEXX users and the platform itself facing substantial financial losses. Coordinated Efforts to Track the…
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Cryptocurrency
Misappropriated Money Starts Filtering into SOL
The decentralized exchange platform, DEXX, was recently targeted in a significant cyberattack, leading to substantial financial losses for both the platform and its users. Following a week of inactivity, the attackers have re-emerged, converting the stolen altcoins into Solana (SOL) in large volumes. This development has been closely monitored by MistTrack, a renowned cybersecurity firm. A Coordinated Investigation Roy, the founder of DEXX, has been transparent in communicating the steps…
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Solana Wallets Targeted in Phishing Signature Attacks
The Solana blockchain, known for its rapid transaction speeds, has recently faced security challenges that highlight hidden risks within its ecosystem. The latest incident involves a phishing attack that has taken the form of seemingly legitimate signature requests, as reported by Scam Sniffer, a reputable web3 anti-scam organization. The crux of the issue is Solana’s transaction speed, which can cause discrepancies between emulated wallet states and real-world states. This gap…
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Cryptocurrency
Weekly Crypto Hack Update: Threat Assessment and Significant Increase in Hacks
In the ever-evolving world of cryptocurrency, the past week has been rife with security breaches, including the first-ever AI poisoning attack, sophisticated phishing schemes, and a substantial exploit of a DeFi platform. As the blockchain industry continues to grow, these incidents underscore the critical need for enhanced security measures. Let’s delve into the major incidents that unfolded this week and explore their implications for the cryptocurrency ecosystem. First-Ever AI Poisoning…
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Cryptocurrency
Weekly Crypto Hack Report: Threat Insights and Significant Increase in Attacks
The cryptocurrency sector has witnessed a significant surge in cyber threats over the past week, marking an unprecedented AI poisoning attack, remarkable phishing-related theft, and a substantial assault on a DeFi platform. These incidents expose evolving tactics employed by attackers and underscore the pressing need for enhanced security measures within the blockchain realm. 1. First-Ever AI Poisoning Attack Targets Solana Wallet This incident marks the inaugural AI poisoning attack within…
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How AI-Driven Crypto Scams Are Transforming Blockchain Security
The rise of artificial intelligence (AI) has been a double-edged sword, providing unprecedented advancements while also introducing new vulnerabilities. A recent incident involving an AI poisoning attack on the cryptocurrency market underscores this duality. A Solana wallet was compromised, leading to a reported loss of approximately $2,500 USD. This event highlights the potential for AI tools, such as ChatGPT, to inadvertently aid in malicious activities within the Web3 ecosystem. The…
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How AI-Driven Crypto Frauds Are Transforming Blockchain Security
The cryptocurrency market has experienced its first known artificial intelligence (AI) poisoning attack, leading to the compromise of a Solana wallet. This alarming incident resulted in an estimated loss of $2,500 USD and raises significant concerns about the potential misuse of AI tools like ChatGPT in Web3 development, particularly in promoting compromised assets. The Solana Wallet Exploit: A Closer Look On November 21, 2024, a user attempted to deploy a…
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Cryptocurrency
CoinPoker Suffers $2 Million Loss in 2000 ETH Hot Wallet Breach
The blockchain-based poker platform CoinPoker recently experienced a significant security breach on November 8th, resulting in the loss of nearly 2000 ETH, valued at approximately 2 million USD. This cyberattack targeted the platform’s hot wallet, exploiting vulnerabilities to bypass existing safeguards. The attackers executed a series of organized transactions that affected Ethereum, Binance Smart Chain (BSC), and Polygon networks. Flight of the Attack An in-depth report by Cyvers Alerts reveals…
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