Shiba

Cryptocurrency

Note

The recent security breaches in the cryptocurrency sector have caused significant turmoil. 
The trading platform HTX and Heco Chain experienced a breach confirmed by Justin Sun, resulting in the unauthorized transfer of approximately $97 million in various tokens. 
This incident, initially detected by blockchain security firm PeckShield, involved the transfer of 10,145 Ether (worth about $20 million) from the bridge, followed by transactions involving digital assets like USDC, Chainlink, Shiba Inu, and others to different addresses. 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#PeckShieldAlert</a> Suspicious huge withdrawal of 10,145 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> (~$19m) from <a href="https://twitter.com/hashtag/Heco_Bridge?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Heco_Bridge</a>. <a href="https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@justinsuntron</a> 
 Note the tx is initiated by the operator. Looks like a compromised operator?<a href="https://t.co/thBVveuL6X" rel="nofollow" target="_blank">https://t.co/thBVveuL6X</a> <a href="https://t.co/th4Ui0FO3A" rel="nofollow" target="_blank">pic.twitter.com/th4Ui0FO3A</a> 
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1727286692489679360?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">November 22, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
As a precaution, deposits and withdrawals were temporarily suspended, with assurances that the remaining funds were safe. 
<h2 id="kyberswap-hack">KyberSwap hack</h2> 
Simultaneously, the decentralized exchange <a href="https://twitter.com/KyberNetwork/status/1727475235342217682" rel="nofollow noopener" target="_blank">KyberSwap</a> fell victim to a nearly $50 million hack. The attackers primarily stole Ether, wrapped ether (wETH), and USDC. 
https://twitter.com/KyberNetwork/status/1727475235342217682 
This breach affected multiple cross-chain deployments of KyberSwap, with losses totaling over $20 million on Arbitrum, $15 million from Optimism, and $7 million from Ethereum. 
Analysis by on-chain sleuths indicated that this was not due to a bug in KyberSwap’s approval authorization code, but rather a directed attack against the liquidity provider pools. 
The attacker even teased about starting negotiations after some rest, highlighting a growing trend of hackers taunting their victims through signed transaction messages in decentralized finance exploits. Following the attack, KyberSwap’s total value locked (TVL) plummeted to $22.23 million from approximately $80 million. 
These incidents underscore the vulnerabilities in the cryptocurrency trading platforms and the need for enhanced security measures to protect digital assets. 
The growing sophistication of <a href="https://crypto.ro/en/news/poloniex-hit-by-major-hack-over-114-million-in-cryptocurrencies-stolen/">cyber-attacks</a> in this sector calls for robust and proactive strategies to safeguard user funds and maintain trust in these platforms.

Cryptocurrency sector faces security breaches: HTX, Heco Chain, and KyberSwap hacked

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