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According to blockchain analysis firm CertiK, over $32.2 million was lost to crypto scams and security incidents in October, with vulnerabilities, exit scams, and flash loan manipulations among the leading causes. In October alone, more than $32.2 million in user funds have been lost to security incidents and scams in the crypto market, according to blockchain Analysis CertiK. A large part of these incidents were vulnerability exploits, accounting for $22 million of the lost funds. Topping the list was the Fantom Foundation security breach, which alone saw hackers drain $700,000 in funds – mostly from an employee wallet. The hacker today moved the stolen funds into Tornado Cash. #CertiKStatsAlert Combining all the incidents in October we’ve confirmed ~$32.2M lost to exploits, hacks and scams. Exit scams were ~$8M Flash loans were ~$1.7M Exploits were ~$22M See more details below pic.twitter.com/67mq0ope7w — CertiK Alert (@CertiKAlert) October 31, 2023 Exit scams a...

3Commas, a leading crypto trading bot platform, recently faced and swiftly addressed a security breach that temporarily disrupted some users’ accounts. On Oct. 8, 3Commas released a security notice, which they recently updated. They provided a detailed account of the incident and their subsequent actions to rectify it. The breach came to light when a handful of users reported unauthorized transactions on their accounts after resetting their passwords. In response, 3Commas sprang into action, initiating an internal investigation and implementing additional security protocols. You might also like: Crypto might fluctuate due to Israel-Palestine war, analyst says After conducting an exhaustive probe, it confirmed that a security breach had occurred, resulting in unauthorized access to specific user account information.  The platform clarified that this breach primarily impacted users who had not activated two-factor authentication (2FA), and only a limited number of a...

BNB Beacon Chain mainnet is set to undergo the "ZhangHeng" hard fork around July 19, which will bring new upgrades aimed at improving security. The Binance-operated BNB Beacon Chain mainnet is set to add a new feature in its upcoming hard fork, which will give the blockchain the ability to “halt” the production of new blocks if certain conditions are met. In a July 12 statement from BNB Chain, the “ZhangHeng” upgrade is expected to take place at block height 328,088,888, which it expects will occur on July 19. Important information about our latest upgrade ️https://t.co/4sJkTJbGeZ — BNB Chain (@BNBCHAIN) July 12, 2023 The hard fork will introduce Binance Evolution Proposal BEP-255, which seeks to implement "on-chain asset reconciliation" — which Binance believes could mitigate damage from potential cross-chain bridge exploits such as the Binance Smart Chain exploit on Oct. 7, 2022.  "Although some enhancements have been made to improve cross-chain security, ...

The deal was posted to both the Ethereum network and the protocol’s official Twitter channel. The team behind exploited decentralized finance (DeFi) app Jimbos Protocol has offered a deal to the app’s exploiter: Keep 10% of the funds and return the other 90%, or face prosecution. Otherwise, the team “won’t stop” until the attacker is “behind bars.” The proposed deal was disclosed in a May 28 tweet by the Jimbos team and posted to the Ethereum network. To the attacker: keep a fast $800k payday, and live to tell the tale. We won't pursue you if you send back the 90%. But if you don't, we won't stop until you're behind bars. You can open communications with us at Helloitsjimmy@proton.me — Jimbos Protocol (v2, soon) (@jimbosprotocol) May 29, 2023 On May 28 at 7:25 am UTC, the team posted a message to the Ethereum network stating that the attacker would not be prosecuted if 90% of the funds are returned. First Jimbos Protocol message to attacker. Source: Ethereum blockcha...

An earlier series of tweets sharing images of orange balls were the precursor to the announcement of a client for layer-2 solution Optimism. A series of cryptic tweets depicting orange balls were revealed to be building up hype for a new rollup client for Optimism (OP) called "Magi" from the crypto arm of venture capital firm Andreessen Horowitz (A16z). An April 19 Tweet from a16z engineer Noah Citron explained Magi is written in the programming language Rust and will “help improve the client diversity and resilience of the entire OP Stack ecosystem.” Introducing Magi , our brand new OP Stack rollup client written in Rust. We've been working on Magi to help improve the client diversity and resilience of the entire OP Stack ecosystem. Lets dive in. code: https://t.co/U8ER6v2SSe blog: https://t.co/A4Tx8iaVOh pic.twitter.com/S5hDbx5Q4R — ncitron.eth (@NoahCitron) April 19, 2023 The OP Stack refers to the set of software that powers the Ethereum layer-2 solution Optimism....

Delphi Lab's general counsel said the SEC was being "more thorough than usual" in its lawsuit against Terraform Labs and its co-founder Do Kwon. The United States Securities and Exchange Commission’s (SEC's) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to a lawyer. Gabriel Shapiro, general counsel at investment firm Delphi Labs, explained to his 33,800 Twitter followers on Feb. 16 that the SEC’s arguments in its complaint against Kwon and Terraform were “more thorough than usual.” whew lad, lots to digest in the SEC lawsuit vs Do Kwon and Terraform Labs right off the bat, a very interesting fact is that the SEC is being more thorough than usual--specifically running through the Howey test for various assets (UST, LUNA, and wLUNA) and also alleging that… https://t.co/1JsBQijMnw pic.twitter.com/qHuL6mKpeo — _gabrielShapir0 (@lex_node) February 16, 2023 Shapiro’s analysis follo...