Cybersecurity Starts in the Boardroom
The FBI has issued a warning to investors who plan to Decentralized Finance (DeFi) Platforms for crypto-currency transactions highlighting the ease with which threat actors are exploiting any vulnerabilities in the platform’s security. Cyber Criminals Increasingly Exploit Vulnerabilities in Decentralized Finance Platforms to Obtain Cryptocurrency, Causing Investors to Lose Money …
Continue reading “The FBI warning of DeFi vulnerabilities being exploited”
These high value attacks against decentralized finance (DeFi) platforms just keep happening. They are obviously becoming a target of choice for hackers looking for a big pay day. This time it is Deus Finance are the losers this time, with a variation on a flash loan attack directed at manipulating …
Continue reading “DeFi and smart contracts back in the spotlight with more thefts”
There have been a number of attacks on decentralized finance (DeFi) systems recently – and here is another. A hacker abused the smart contract system at Beanstalk Farms, a decentralized finance (DeFi) project and sent themselves $182 million. Clever Cryptocurrency Theft – Schneier on Security Beanstalk cryptocurrency project robbed after …
Continue reading “You get the idea that Bruce Schneier does not like cryptocurrencies”
Last month we covered the $625m theft from Ronin, using a web3/smart contract, exploit against the decentralised finance service (DeFi). Now the company (and it’s clients) have been bailed out by cash investment by cryptocurrency giant Binance. Ronin Network bailed out by crypto giant Binance after hack – BBC News
This post was originally made on 30 March 2022 web3 (with a lowercase “w” of course) and its use of blockchain for better cybersecurity seems like a good idea. However here is another “profitable” cyber-attack on the technology – exploiting the processes to get into the secure systems. Ethereum sidechain …
Continue reading “The blockchain is not the end of the security process – UPDATED”
The attack was on the code Inverse Finance was using for its smart contracts. More than $15 million stolen after hackers exploit DeFi platform Inverse Finance – The Record by Recorded Future Now we have “ice phishing” on the shiny new web3 – Smart Thinking Solutions
What is ice phishing? Here is what Microsoft has to say about it: ” ‘ice phishing’… …doesn’t involve stealing one’s private keys. Rather, it entails tricking a user into signing a transaction that delegates approval of the user’s tokens to the attacker. This is a common type of transaction that enables …
Continue reading “Now we have “ice phishing” on the shiny new web3″
