Belt Finance, an automated market maker (AMM) protocol operating a yield optimization strategy on Binance Smart Chain (BSC), claims to have paid the largest bounty in the history of decentralized finance (DeFi) to a white hat hacker who averted a $10-million bug crisis. Industry white hat programmer Alexander Schlindwein discovered the vulnerability in Belt Finance’s protocol this week and reported the news to the team. For his efforts, Schlindwein received a generous compensation of $1.05 million, the majority of which ($1 million) was facilitated by Immunefi and granted by Belt Finance, with the additional $50,000 offered by Binance Smart Chain’s …

Kraken Security Labs has said that a “large number” of Bitcoin (BTC) ATMs are vulnerable to hacking, as the administrators never changed the default admin QR code. In a Wednesday blog post, Kraken posted research from its Security Labs team, which found that there are “multiple hardware and software vulnerabilities” in the General Bytes BATMTwo ATM range. “Multiple attack vectors were found through the default administrative QR code, the Android operating software, the ATM management system and even the hardware case of the machine,” the post read. Kraken’s security team stated that if a hacker gets their hands on the …

Hip-hop icon Calvin Cordozar Broadus Jr., also known as Snoop Dogg, has revealed himself to be the pseudonymous nonfungible token (NFT) collector “Cozomo de’ Medici.” While Snoop has not provided further clarification beyond a Sept. 21 tweet unveiling his digital identity, Medici’s NFT wallet is worth roughly $17.6 million, according to DappRadar. Snoop’s collection features a long list of NFTs, including highly sought-after CryptoPunks, Meebits and Art Blocks tokens. Snoop’s CryptoPunks represent most of his portfolio’s monetary value, with the tokens estimated to be worth $13.19 million. The collection includes CryptoPunk #3831, which depicts a green alien wearing a mask …

Decentralized finance (DeFi) platform Vee Finance reported $35 million in losses in an exploit, just a few days after launching its mainnet on the Avalanche network. After pausing services due to suspicious activity on Monday, Vee Finance confirmed that its platform was under attack resulting in a loss of 8,804 Ether (ETH) and around 214 Bitcoin (BTC). The total amount is worth more than $35 million at the time of writing. According to the official incident announcement, the suspected attacker has collected stolen assets on one address after exploiting the Vee Finance trade contract address. In order to prevent further …

Joseph Delong, chief technology officer of decentralized finance (DeFi) platform SushiSwap, announced that a hacker compromised the supply chain of its token launchpad platform, MISO. According to Delong, the “anonymous contractor with the GH handle AristoK3 injected malicious code into the Miso front end,” replacing the auction wallet address with their own and subsequently acquiring 865 Ether (ETH), valued at $3 million. This data can be verified via EtherScan. The hacker exploited the single target of the Jay Pegs Auto Mart token auction, a parody NFT project imitating the value of a 2007 Kia Sedona. On what he called the …

Surging Ethereum rival, Solana (SOL), has shed 15% of its value over the past 24 hours after suffering a denial-of-service disruption. On Tuesday at 12:38 pm UTC, Twitter account Solana Status announced that Solana’s mainnet beta had been suffering intermittent instability over a 45-minute period. Six hours after announcing the incident, Solana Status explained that a large increase in transaction load to 400,000 per second had overwhelmed the network, created a denial-of-service, and caused the network to start forking. 1/ Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction …

Zabu Finance, a DeFi application on the Avalanche blockchain, has reportedly been exploited for crypto tokens worth $3.2 million. The removal of a large number of tokens eventually reduced the value of Zabu tokens to zero. Zabu Finance announced the exploit by asking for help from Avalanche and popular Avalanche-hosted decentralized exchanges such as Pangolin and Trader Joe: “Zabu Team Wallet has not sold a single Zabu. We're under an exploit, possibly from Spore Pool. We're investigating the exploit. Need help Pangolin, Trader Joe, Avalanche.” Based on further investigation, Zabu found the attacker stole the assets from a pool of …

Decentralized finance (DeFi) protocol Cream Finance will pay back its users following a $18.8 million flash loan hack that occurred on Aug. 30. Cream has published a post-mortem to the AMP flash loan exploit, promising to replace the stolen Ether (ETH) and Amp (AMP) tokens by allocating 20% of all protocol fees until the debt is paid entirely. Cream will also post collateral with relevant parties at AMP and its creators, Flexa digital payments network, to secure the debt. According to the post-mortem report, the latest flash loan exploit was the first time Cream Finance has suffered a direct exploit, …

Cream Finance, a major decentralized finance (DeFi) protocol focused on lending, has suffered a severe exploit, with a hacker stealing nearly $19 million from its platform. An unknown hacker has managed to gain $18.8 million in the latest flash loan exploit of the Cream Finance protocol through a reentrancy bug introduced by the Amp token, according to an investigation by blockchain security firm PeckShield. Announcing the news Monday, Cream Finance said that the protocol has stopped the exploit by pausing supply and borrow contracts on the Amp token. “No other markets were affected,” Cream Finance stated. C.R.E.A.M. v1 market on …

Bilaxy, a lesser-known cryptocurrency exchange, has confirmed a major hacking incident, reporting the losses of funds due to an exploit of the platform’s ERC-20 hot wallet. Bilaxy announced on its Telegram channel that the crypto exchange suffered a “serious hack” on Saturday between 6 pm and 7 pm UTC, resulting in the transfer of 295 different ERC-20 tokens. According to the exchange, the affected tokens were transferred by the hacker to a single address. At the time of writing, the tokens are valued at $170,600, with the most recent transaction sending out 50 Ether (ETH), or about $159,000, on Monday. …

While the value of cryptocurrencies has varied wildly in the last year, this has not diminished crypto’s attractiveness to criminals. Many of them are moving their illegal activities underground and outside the view of law enforcement. Because of the public nature of most blockchains, however, this rapid movement shouldn’t be a major concern to law enforcement agencies. With the right tools and training, following the proceeds of crypto-enabled crime is actually not as difficult as it may seem. However, intelligence agencies must have a cryptocurrency investigation plan that includes the right tools to lawfully collect digital evidence and the properly …

Bison Trails, an enterprise infrastructure provider for the blockchain and cryptocurrency industry, has extended support to developers of Binance Smart Chain — a move the company says will contribute to the health and security of the rapidly growing DeFi sector. Through Bison Trails, developers on Binance Smart Chain, also known as BSC, will have access to validor node infrastructure, which allows them to run nodes and contribute to the security of the network. Specifically, Bison Trails is providing BSC with Query & Transact infrastructure, which allows developers to build applications more easily. The partnership with BSC centers around the growth …