2024

Gamma

Mixin

<p class="is-style-lead">Gamma Strategies, an Ethereum-based asset management protocol, is currently grappling with a security breach that has led to a potential loss of 211.9 ETH.</p> 
<p>On Jan. 4, blockchain analysis firm PeckShield <a href="https://twitter.com/PeckShieldAlert/status/1742753372334399513" target="_blank" rel="noopener">identified </a>an exploit estimated to be worth about $469,000 in an attack against Gamma Strategies.</p> 
<p>Shortly after the decentralized finance (DeFi) protocol, Gamma, acknowledged a “potential security issue” while reassuring users that they were still able to withdraw their funds as necessary.</p> 
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   <p lang="en" dir="ltr">We're monitoring and reacting to a possible security incident. Please be patient while we take security precautions to assess the issue. If you needwith draw our front end is still up at <a href="https://t.co/p5JwV003JJ" target="_blank">https://t.co/p5JwV003JJ</a></p>— Gamma (@GammaStrategies) <a href="https://twitter.com/GammaStrategies/status/1742772630699364759?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 4, 2024</a>
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<p>Two hours later, in a subsequent post on X, the company stated it would provide additional details regarding the incident once its investigation was complete.</p> 
<p>Meanwhile, amidst the ongoing confusion, a fraudulent X account with a verified status has impersonated Gamma’s social media presence.</p> 
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   https://twitter.com/GammaStratcgics/status/1742790185270510036 
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<p>The imposter account sought to steer actual investors towards a phishing website while urging “all users to revoke all approvals to safeguard their funds.” Remarkably, the fake account’s post gained more traction than Gamma’s own cautionary message about the breach.</p> 
<p> You might also like: <a href="https://crypto.news/pink-drainer-hackers-stole-4-4m-in-link/"> Pink Drainer hackers stole $4.4m in Link </a> </p> 
<h2 class="wp-block-heading" id="hackers-drained-billions-in-crypto-in-2023">Hackers drained billions in crypto in 2023</h2> 
<p>The latest breach adds to the series of hacks that have plagued the cryptocurrency sector. In 2023, the industry suffered almost <a href="https://crypto.news/crypto-hackers-managed-to-steal-2b-in-2023/">$2 billion in losses</a> due to such incidents, with the largest hacks occurring in the year’s second half.</p> 
<p>The Mixin platform experienced a significant blow in September, <a href="https://crypto.news/u-s-officials-link-north-korea-to-the-major-security-breach-at-mixin/">losing $200 million</a>, and was unable to locate the attacker or retrieve the funds. However, Mixin committed to compensating users for half of their lost holdings.</p> 
<p>Other notable breaches included a security incident at the popular crypto exchange Poloniex in November, initially reported at $33 million and later adjusted to <a href="https://crypto.news/crypto-losses-soar-to-173m-in-november-driven-by-poloniex-hack/">over $120 million</a>. The crypto gambling platform Stake also faced a <a href="https://www.bleepingcomputer.com/news/security/crypto-casino-stakecom-loses-41-million-to-hot-wallet-hackers/" target="_blank" rel="noopener">$41 million</a> theft in September.</p> 
<p>The rise in cryptocurrency hacks in late 2023 signals a troubling trend for the industry moving into 2024, a critical year highlighted by key events such as the January launch of the <a href="https://crypto.news/greekslive-spot-bitcoin-etf-approval-unlikely-until-2nd-week-of-january/">spot Bitcoin ETF</a>s and the <a href="https://crypto.news/learn/bitcoin-halving-what-it-is-and-how-it-may-affect-the-price/">Bitcoin halving</a> in April.</p> 
<p>As the industry gears up for a busy 2024, so are the hackers. Strengthening resilience across the board is essential to mitigate these widespread threats, or else the crypto industry faces a potentially expensive year ahead.</p> 
<p> Read more: <a href="https://crypto.news/crypto-hacks-in-december-push-total-losses-close-to-100m/"> Crypto hacks in December push total losses close to $100m </a> </p>

Gamma Strategies faces security attack, over 200 ETH at risk

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