China News Today Official TheBitTimes.com

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...

Users were prevented from withdrawing their CYBER Earn assets on the exchange due to a cross-chain bridging issue. Crypto exchange Binance is refunding users 1 million Tether ($1 million) over its handling of the CyberConnect (CYBER) token incident . As narrated by the exchange on Sept. 7, a price discrepancy on listed CYBER tokens occurred the week prior due to a liquidity crunch constricting CYBER cross-chain bridges on Korean cryptocurrency exchange Upbit. This led to arbitrageurs borrowing CYBER from Binance to profit from the differential. In turn, Binance users who staked CYBER in its Flexible Earn Program were barred from redemptions as the staked assets had been borrowed, reaching the loan limit. The exchange stated: "Other than Proof-of-Stake (PoS) based products, a large part of crypto flexible financial products generate income by lending out subscribed assets to other users via Margin or collateralized loans. Under extreme conditions, borrowers may not be able to r...