The SushiSwap decentralized exchange has narrowly avoided becoming the latest decentralized finance hack victim thanks to assistance from a white hat hacker. A security researcher from venture capital firm Paradigm, known on Twitter as Samczsun, has managed to save SushiSwap and its Miso platform from a potential loss of as much as 109,000 Ether (ETH). In a blog post published on Tuesday, the programmer described how he began examining the smart contract code for the BitDAO token sale on SushiSwap’s token launchpad platform, Miso. Just pulled off maybe the biggest whitehat rescue ever. Story time soon — samczsun (@samczsun) August …

Decentralized finance protocol Poly Network has offered the person behind a $610 million hack an advisery position and $500,000 — whether they like it or not. In a Tuesday update, the Poly Network team said, in a seeming attempt to gain access to the hacker’s expertise, that it would be inviting them to the position of chief security adviser. In addition, the project will be sending a $500,000 bounty for the attacker, whom Poly dubbed "Mr. White Hat," despite the fact they have previously refused any payment. “Poly Network has no intention of holding Mr. White Hat legally responsible, as …

The rise of decentralized finance, or DeFi, could be paving the way toward a fully decentralized financial ecosystem. Yet, given the innovative nature of DeFi, the sector remains in constant development and is therefore prone to a number of vulnerabilities. Unsurprisingly, one of the biggest challenges currently facing the DeFi sector is security threats. This has become apparent as more DeFi hacks continue to wreak havoc across the crypto community. Most recently, the largest DeFi hack within the crypto industry took place. The Poly Network hack resulted in over $600 million dollars removed, and then returned, from Binance Chain, Ethereum …

Blockchain security firm CertiK has concluded a $24-million-dollar funding round as part of its ongoing efforts to expand its product and security offerings for the decentralized finance, or DeFi, sector. The funding round, which was co-led by Tiger Global and GL Ventures, comes on the heels of the successful launch of Skynet Premium, an active monitoring platform for DeFi applications. Since its inception, Skynet has monitored over 2 million smart contract addresses and over 2 billion on-chain transactions. Related: Blockchain security firm CertiK raises $37M to combat DeFi and crypto risks CertiK claims to have served over 1,300 enterprise clients …

The United States government is offering rewards in cryptocurrency for information relating to the operations of enemy state-backed hackers or suspected terrorists. The U.S. State Department’s new “Rewards for Justice” platform allows informants to submit anonymous tips and information in return for rewards in digital assets. The platform was promoted at the Black Hat USA event, which ran from July 31 to Aug. 5 in Las Vegas, with users able to submit tips via an unsecured Wi-Fi network called #Rewardsnotransoms. The open network was purposely set up to encourage attendees to log in and access the RFJ website, according to …

United States telecom giant T-Mobile is looking into an alleged massive data breach that may have compromised more than 100 million users. According to Vice’s Motherboard, T-Mobile is investigating an alleged data breach claimed by the author of the post on an underground forum. The Sunday report says the hacker claims to have obtained data on more than 100 million customers from T-Mobile servers. The seller is asking for 6 Bitcoin (BTC) — approximately $287,000 at current prices — in exchange for some of the data. Motherboard has seen samples of the data, which include social security numbers, phone numbers, …

The decentralized finance sector is growing at a breakneck pace. Three years ago, the total value locked in DeFi was a mere $800 million. By February 2021, the figure had grown to $40 billion; in April 2021, it attained a milestone of $80 billion; and now it stands at above $140 billion. Such rapid growth in a new market could not but attract the attention of all manner of hackers and fraudsters. According to a report by crypto research company, since 2019, the DeFi sector has lost about $284.9 million to hacks and other exploit attacks. Hacks of blockchain ecosystems …

Artificial intelligence research lab Fetch.ai has been granted a request to have major cryptocurrency exchange Binance identify individuals behind a $2.6 million hack. According to a Friday Reuters report, the Royal Courts of Justice in London has ordered Binance to identify the hackers and seize the stolen assets. Fetch.ai reportedly claimed that hackers stole $2.6 million worth of cryptocurrency from its Binance account on June 6 and resold the tokens for a significantly reduced price. "We need to dispel the myth that crypto assets are anonymous," said Syedur Rahman, a partner from Fetch.ai's legal team at Rahman Ravelli. "The reality …

The hacker behind a $610 million attack on the cross-chain decentralized finance (DeFi) protocol Poly Network has returned almost all of the stolen funds amid the project saying their actions constituted “white hat behavior.” According to a Thursday update on the attack from Poly Network, all of the $610 million in funds taken in an exploit that used "a vulnerability between contract calls” have now been transferred to a multisig wallet controlled by the project and the hacker. The only remaining tokens are the roughly $33 million in Tether (USDT), which were frozen immediately following news of the attack. The …

Hackers have stolen funds out of more than 5,000 user accounts with crowdfunding platform DAO Maker, a site aimed at raising money for crypto projects. According to a report from DAO Maker CEO Christoph Zaknun, hackers were able to remove roughly $7 million in USD Coin (USDC) from 5,251 user accounts at approximately 1:00 am UTC today. The platform said the attacker used a smart contract exploit to initially steal 10,000 USDC, then made 15 more transactions to acquire additional funds. "One of the reasons why this did happen is probably that the amount of deposits within the [Strong Holder …

The Poly Network hacker has now returned $258 million to the cross-chain decentralized finance (DeFi) protocol and conducted a question-and-answer session detailing how the initial hack went down. In what is being described as the largest DeFi hack to date, the Poly Network suffered a $612-million exploit on Tuesday that saw the hacker steal assets from Ethereum, Binance Chain and the Polygon Network. Tom Robinson, the chief scientist at blockchain analytics firm Elliptic, told Forbes on Wednesday that the hacker has now returned roughly $258 million worth of funds to Poly so far — with $342 million yet to be …

These transfers have occurred across the three wallets associated with the Poly Network hacker across the Ethereum, Binance Smart Chain (BSC) and Polygon networks. Poly Network confirmed receipt of the returned funds via a tweet issued on Tuesday. Details from Etherscan show that $2 million worth of Shiba Inu (SHIB) and $616,000 in Fei USD (FEI) tokens are being returned. So far, we have received a total value of $4,772,297.675 assets returned by the hacker. ETH address: $2,654,946.051 BSC address: $1,107,870.815 Polygon address: $1,009,480.809 pic.twitter.com/bPFAQk4mvS — Poly Network (@PolyNetwork2) August 11, 2021 Data from BscScan also shows the hacker returning …