The past week has seen a troubling rise in cyber attacks across the crypto industry. Numerous hacks and scams have targeted decentralized platforms, social media, and blockchain projects.
Here’s a breakdown of the most notable incidents.
On January 15, the decentralized wireless network project Dawn Internet was hacked. Attackers gained control of the project’s X (formerly Twitter) account and used it to post phishing messages. The tweets initially contained phishing links that led users to a Telegram channel, where bots like SafeguardsAuthenticationRobot tricked them into revealing their crypto details.
Mosaic Exchange Ltd and its CEO, Sean Michael, were hit with penalties of over $1.1 million by the Commodity Futures Trading Commission (CFTC) for their role in a fraudulent digital asset scheme. The charges include inflating trading profits, assets under management, and partnerships between 2019 and 2021. This action highlights the ongoing regulatory focus on the crypto industry.
Chainalysis, a major blockchain analytics firm, has acquired AI fraud detection company Alterya for $150 million. Alterya specializes in monitoring cryptocurrency transactions and fighting fraud, handling over $8 billion in transaction traffic per month. This acquisition strengthens Chainalysis’s ability to combat illicit activities and improve security in the crypto market.
Decentralized finance platform UniLend Finance was compromised, resulting in the theft of $197,600. The exploit targeted the platform’s redeem function, manipulating collateral share prices to gain unauthorized control and steal user funds. This incident highlights the ongoing security risks faced by decentralized platforms.
The fallout from the OpenSea email provider hack is still being felt. A list of 7 million email addresses has been stolen and is being used in phishing scams. Cybercriminals are using this data to send fake emails that deceive victims into visiting fake sites or downloading malware. Influencers and notable figures, such as Binance’s CZ, have had their emails leaked.
With each breach, the importance of strengthening security in the crypto space becomes more apparent. It’s a constant battle to protect assets and trust.
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