XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol. Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the nature of the exploit, Peckshield stated: “The hack is made possible by allowing a withdrawn pledged NFT to be still used as the collateral, which is then exploited by the hacker to drain assets from the pool.” Soon after the revelation, XCarnival proactively informed the …

Hacktivist group Anonymous has pledged to “make sure” Terra co-founder Do Kwon is “brought to justice as soon as possible” in regard to the collapse of the Terra (LUNA) and TerraUSD (UST) ecosystems in May. On Sunday, a video purportedly coming from the Anonymous hacker group rehashed a laundry list of Kwon’s alleged wrongdoings, including cashing out $80 million each month from LUNA and UST prior to its collapse, as well as his role in the fall of stable coin Basis Cash, for which Do Kwon allegedly co-created under the pseudonym “Rick Sanchez” in late 2020: “Do Kwon, if you …

Joe Grand, a computer engineer and hardware hacker known by many for recovering crypto from hard-to-reach places, spent hours breaking into a phone only to find a fraction of a Bitcoin. In a YouTube video released on Thursday, Grand traveled from Portland to Seattle in an effort to potentially recover “millions of dollars” in Bitcoin (BTC) from a Samsung Galaxy SIII phone owned by Lavar, a local bus operator. Lavar originally purchased the BTC in July 2016 in a “super sketchy” way, paying a person at a cafe and storing the crypto in a wallet on the phone before putting …

The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for $100 million in altcoins which are being swapped for Ether (ETH). The hack may vindicate previously raised community concerns about the robustness of the two of four multisig that reportedly secures the bridge. Starting at about 7:08 am EST until 7:26 am EST, 11 transactions were made from the bridge for various tokens. They have since begun sending tokens to a different wallet to swap for ETH on the Uniswap decentralized exchange (DEX), then sending the ETH back to the original wallet. 1/ The Harmony team has identified …

Noah Davis, the nonfungible token (NFT) specialist at auction house Christie’s, has said he’s leaving the position in July to take up a post as brand lead for the CryptoPunks NFT collection with Yuga Labs. Announcing the move on Sunday in a Twitter thread, Davis looked to quash any anxieties holders had regarding the future of one of the oldest NFT projects, saying he “will not f*ck with the punks.” What does that mean? It means no Punks on lunchboxes or cringe TV shows/shitty movies. It means no arbitrary rushed utility or thoughtless airdrops. It means if you love your …

Just two months after losing $15.6 million in a price oracle manipulation exploit, Inverse Finance has again been hit with a flash loan exploit that saw the attackers make off with $1.26 million in Tether (USDT) and Wrapped Bitcoin (wBTC). Inverse Finance is an Ethereum-based decentralized finance (DeFi) protocol and a flash loan is a type of crypto loan that is usually borrowed and returned within a single transaction. Oracles report outside pricing information. The latest exploit worked by using a flash loan to manipulate the price oracle for a liquidity provider (LP) token used by the protocol’s money market …

Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace. The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for illegal activity. However, CipherTrace estimates that illicit activity was between 0.62% and 0.65% of overall cryptocurrency activity in 2020. The firm reported that it has now fallen to between 0.10% and 0.15% of overall activity in 2021. In its “Cryptocurrency Crime and Anti-Money Laundering” report released Monday, CipherTrace outlined that the top ten decentralized finance (DeFi) hacks in 2021 …

Law firms Holland & Knight and Bluestone have served a defendant in a hacking case with a temporary restraining order through a nonfungible token, marking the first known legal process to be facilitated by an NFT. The so-called “service token” or “service NFT” was served to an unnamed defendant in a hacking case involving LCX, a Liechtenstein-based cryptocurrency exchange that was hacked in January for almost $8 million. As Cointelegraph reported at the time, the attack compromised the platform’s hot wallets, resulting in the loss of Ether (ETH), USD Coin (USDC) and other cryptocurrencies. Holland & Knight has become the …

Osmosis, a decentralized exchange (DEX) built on the Cosmos network, was halted just before 3:00 am EST on Wednesday after attackers exploited a liquidity provider (LP) bug to the tune of roughly $5 million. The bug was first identified in a Reddit post on the official Cosmos Network page. The user, Straight-Hat3855, brought attention to a “serious problem” with Osmosis (OSMO) that allowed users to arbitrarily grow LPs by 50% simply by adding and removing liquidity. The Reddit post was quickly removed, but not before malicious actors took advantage of the bug, which saw approximately $5 million removed from liquidity …

The honeymoon period for the Optimism layer-2 scaling solution has been cut short, as an exploit in its market maker’s smart contract led to the loss of 20 million OP tokens. The exploit took place on May 26 but has only just been reported to the community. One million tokens valued at about $1.3 million were sold on Sunday. An additional 1 million tokens valued at about $730,000 were transferred to Vitalik Buterin’s Ethereum address on Optimism earlier today at 12:26 am UTC. The remaining tokens are dormant for now but could be sold at any time or used to …

The Maiar Exchange, a decentralized exchange (DEX) native to the Elrond blockchain, has been temporarily taken offline after an attacker utilized an exploit and made off with roughly $113 million worth of Elrond eGold (EGLD). Minutes before 12:00 am UTC on Monday, the co-founder and CEO of Elrond, Beniamin Mincu, tweeted that he and his team were “investigating a set of suspicious activities” on the Maiar decentralized cryptocurrency exchange. Soon after, the DEX was taken offline, with Mincu reporting that the issue had been identified and an “emergency fix” was being implemented. In a Twitter thread posted almost 24 hours …

Yuga Labs, the creator of two of the most popular ape-themed nonfungible token (NFT) offerings — Bored Ape Yacht Club (BAYC) and OtherSide — witnessed yet another orchestrated phishing attack, with investors losing over 145 Ether (ETH) or nearly $260,000 at the time of writing. OKHotshot, a blockchain detective and a member of the Crypto Twitter community, alerted crypto investors about the compromise of two official Discord groups linked to BAYC and OtherSide NFTs. BAYC & OtherSide discords got compromised‼️ Seems because Community Manager @BorisVagner got his account breached, which let the scammers execute their phishing attack. Over 145E in …