A class action lawsuit has been filed against password management service LastPass following a data breach from Aug. 2022. The class action was filed with the U.S. district court of Massachusetts on Jan. 3, by an unnamed plaintiff known only as “John Doe” and on behalf of others similarly situated. It alleges that the data breach of LastPass has resulted in the theft of around $53,000 worth of Bitcoin. The plaintiff claimed he began accruing BTC in Jul. 2022 and updated his master password to more than 12 characters using a password generator, as recommended by the LastPass “best practices.” …

Hackers have started the year with another exploit, with several million being taken from a whale holding large amounts of decentralized finance (DeFi) protocol GMX’s native token. On Jan. 3, various community members saw suspicious movements of GMX tokens. Following this, security firms CertiK and PeckShield flagged the transactions as an exploit that drained $3.4 million worth of GMX tokens from a GMX whale. According to data analysis platform Lookonchain, the hackers took control of 82,519 GMX tokens and exchanged the assets for 2,627 Ether (ETH). Then, the attackers cross-chained the assets to the Ethereum network using Hop Protocol and …

DNP3, a streamer and founder of several crypto projects like The charity-focused crypto CluCoin, The Goobers NFT and the metaverse platform Gridcraft Network has admitted to losing investor funds through gambling. In a tweet, the nonfungible token (NFT) project founder talked about his gambling addiction and issued a public apology. I’m sorry. Read: https://t.co/RKM1wYggnC — DNP3 (@DNPthree) January 3, 2023 The Twitch streamer said that he got "incredibly addicted" to gambling in the last year. Eventually, the Twitch streamer claimed that he lost everything. He wrote: “In addition to my own life savings, I also irresponsibly used investor funds to …

The new year is a fresh start for malicious actors in the crypto space and 2023 won’t likely see a slowdown in scams, exploits and hacks, according to CertiK. The blockchain security company told Cointelegraph its expectations for the year ahead regarding bad actors in the space, saying: “We saw a large number of incidents last year despite the crypto bear market, so we do not anticipate a respite in exploits, flash loans or exit scams.” Regarding other ill-natured incidents the crypto community might face, the company pointed to the “devastating” exploits that took place on cross-chain bridges in 2022. …

With one of Bitcoin's original core developers claiming that his balance got drained by a hacker, the crypto community is at a loss at how “normal people” can succeed at securing their own Bitcoin (BTC). In a recent thread, Luke Dashjr claimed that some alleged attackers had somehow accessed his PGP (Pretty Good Privacy) key, which is from an encryption program that creates cryptographic authentication. Members of the crypto community voiced their concerns about how a Bitcoin core developer who is known for being security conscious could be compromised. Some believe that this makes it difficult for normal people to …

Cryptocurrency hackers and exploiters seemingly slowed down for the 2022 holidays as December saw $62.2 million worth of cryptocurrencies stolen, the “lowest monthly figure” of the year according to CertiK. The blockchain security company tweeted a list of the month's most significant attacks on Dec. 31. It highlighted the $15.5 million worth of exit scams as the method that stole the most value over the month followed by the $7.6 million worth of flash loan-based exploits. #CertiKStatsAlert Combining all the incidents in December we’ve confirmed ~$62.2M lost to exploits, hacks and scams. The lowest monthly figure this year. Exit scams …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. For DeFi, the last week of 2022 saw another slew of exploits, insider job accusations and exit scam drama. It all started on Christmas, when Defrost Finance, a decentralized leveraged trading platform on the Avalanche blockchain, was exploited by a DeFi flash loan attack causing $12 million in losses. However, the hacker behind the attacks reportedly returned a portion of the funds the next day. Security analytic firm Certik looked into the chain of …

It’s hardly an exaggeration to say that our industry is facing tough times. We’ve been in the midst of a “crypto winter” for some time now, with the prices of mainstays, including Bitcoin (BTC) and Ether (ETH), tumbling. Likewise, monthly nonfungible token (NFT) trading volumes have fallen more than 90% since their multibillion dollar peak back in January of this year. Of course, these declines have only been exacerbated by the numerous black swan events rocking the crypto world, such as the FTX and Three Arrows Capital meltdowns. Taken together, it shouldn’t be a surprise that crypto is facing a …

It's been a turbulent year for the cryptocurrency industry — market prices have taken a huge dip, crypto giants have collapsed and billions have been stolen in crypto exploits and hacks. It was not even halfway through October when Chainalysis declared 2022 to be the “biggest year ever for hacking activity.” As of Dec. 29, the 10 largest exploits of 2022 have seen $2.1 billion stolen from crypto protocols. Below are those exploits and hacks, ranked from smallest to largest. 10: Beanstalk Farms exploit — $76M Stablecoin protocol Beanstalk Farms suffered a $76 million exploit on April 18 from an …

Victims of the 3Commas API leak are calling for refunds and an apology from the crypto trading platform for being gaslighted over the whole ordeal. The past couple of months have seen an ongoing back and forth between 3Commas and supposed victims of unauthorized trades coming from their accounts. 3Commas and its CEO Yuriy Sorokin had strongly denied any hack or breach had taken place and had refuted there could have been an inside job from an employee gone rogue. Instead, it suggested any leaked APIs were the result of customers being phished. you gonna delete these? pic.twitter.com/BwbJkJy8oC — Daniel …

In this week’s newsletter, read about investment giant Fidelity planning to enter the nonfungible token (NFT) space and how Italy’s NFT market will grow. Check out how North Korean hackers use phishing websites to target NFT holders and listen to a conversation with Crypto Raiders in the NFT Steez podcast. And, don’t forget this week’s Nifty News featuring Japanese gaming firm Square Enix investing millions in an NFT game developer. Fidelity plans NFT marketplace and financial services in the metaverse On Dec. 21, investment firm Fidelity filed three trademark applications to the United States Patent Trademark Office. The trademark filings …

Defrost Finance, the decentralized trading platform that suffered a $12 million exploit leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.” On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining of user funds from its V2 protocol. One day later, another incident saw a hacker steal the admin key for a second “much larger” attack on the V1 protocol. It’s understood the attacker(s) conducted the flash loan attack by adding a fake collateral token and a malicious price oracle to liquidate users. …