2024

Gamma

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Mixin

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 <p class="is-style-lead">Gamma Strategies, an Ethereum-based asset management protocol, is currently grappling with a <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> breach that has led to a potential loss of 211.9 ETH.</p>
 <p>On Jan. 4, blockchain analysis firm PeckShield identified 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 <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> 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 <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> incident. Please be patient while we take <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> precautions to assess the issue. If you needwith draw our front end is still up at https://t.co/p5JwV003JJ</p>— Gamma (@GammaStrategies) January 4, 2024
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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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    <p lang="en" dir="ltr">Due to the recent exploit, Gamma urges all users to revoke all approvals to prevent lose of funds <br><br>We recommend all users to review approvals immediately while we investigate.<br><br>Check exposure to the exploit and revoke now <br><br>Revoke Now ️https://t.co/iKyLucsNuH</p>— Gamma (@GammaStratcgics) January 4, 2024
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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>
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 <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 $2 billion in losses 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, losing $200 million, and was unable to locate the <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>er or retrieve the funds. However, Mixin committed to compensating users for half of their lost holdings.</p>
 <p>Other notable breaches included a <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> incident at the popular crypto exchange Poloniex in November, initially reported at $33 million and later adjusted to over $120 million. The crypto gambling platform Stake also faced a $41 million 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 spot Bitcoin ETFs and the Bitcoin halving 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>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto hacks in December push total losses close to $100m
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gamma-strategies-faces-security-attack-over-200-eth-at-risk-tbt75575.html">https://thebittimes.com/gamma-strategies-faces-security-attack-over-200-eth-at-risk-tbt75575.html</a></p>

Gamma Strategies faces security attack, over 200 ETH at risk

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