Unizen

2024

Million

Security

<p>The post <a href="https://coinpedia.org/news/unizen-dex-faces-major-security-breach-over-2-million-loss-reported/">Unizen DEX Faces Major Security Breach; Over $2 Million Loss Reported</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Unizen, a recognized player in the crypto exchange niche and trading platform, was exposed to security faults, which led to the loss of more than $2 million.</p> 
<p>The attack technique was, according to the Slowmist security reports, related to an authorization of the trade aggregator working with the Ethereum (ETH) blockchain network. The hacker with the address 0xd3f64baa732061f8b3626ee44bab354f854877ac took advantage of an open external call vulnerability in the contract.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">SlowMist Security Alert<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Due to an open external call vulnerability, <a href="https://twitter.com/unizen_io?ref_src=twsrc%5Etfw">@unizen_io</a> has been exploited, losing around $2.1M. Please revoke approval for 0xd3f64baa732061f8b3626ee44bab354f854877ac ASAP!<br><br>Currently, the attacker has swapped the stolen USDT for DAI, but has not moved… <a href="https://t.co/T0QARp0QkD">pic.twitter.com/T0QARp0QkD</a></p>— SlowMist (@SlowMist_Team) <a href="https://twitter.com/SlowMist_Team/status/1766311510362734824?ref_src=twsrc%5Etfw">March 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Currently, the attacker has swapped the stolen USDT for DAI but has not moved the funds further yet. Users are strictly advised to remove and revoke the approval of the address associated with the hacker to reduce further losses.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-what-next-for-the-affected-victims"><strong>What next for the affected victims?</strong></h2> 
<p>Unlike other projects, which are often seen as sluggish or remain inactive while a cyberattack is being carried out, Unizen brought forward its authenticity by immediately addressing this crisis. Swiftly in their response, the Unizen acknowledged the security incident and is working to fortify their security systems against flaws to avoid such hacks in the future.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">To Our Valued Community<br><br>In light of the recent security incident, we're fully aware of the distress and inconvenience many of you are facing. This is a moment that tests our resilience, but more importantly, it's a call to action for us to stand together and navigate this…</p>— unizen (@unizen_io) <a href="https://twitter.com/unizen_io/status/1766304585319338407?ref_src=twsrc%5Etfw">March 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The team has established a dedicated form to start the restoration process for those affected. This is a crucial step of the comprehensive plan to address user concerns. Users can fill in details like their wallet address or any other information that might help recover lost funds. The form can be found <a href="https://t.co/lHObqGVfuA">here</a>.</p> 
<h2 class="wp-block-heading" id="h-conclusion"><strong>Conclusion:</strong></h2> 
<p>Security breaches in the crypto sphere are getting popular as hackers are actively seeking newer ways to find flaws in the system security of crypto networks. While every victim is waiting for further developments on the recovery of Unizen funds,&nbsp; users need to practice the best security practices for protecting their digital assets, such as owning hardware wallets, multi-factor authentication, and staying informed about the latest security threats.</p>

Unizen DEX Faces Major Security Breach; Over $2 Million Loss Reported

Table of Contents

CoinPedia News

Other articles published on Mar 9, 2024

Worldcoin Soars to Record High with OpenAI Board Changes

Potentieel ontsluiten: Top Altcoins die omhoog kunnen schieten

As Bitcoin halving draws closer, how these people are seeking profits

Why Does Analyst Predict DeeStream (DST) To 50X: Avalanche (AVAX) & Tron (TRX) Holders Rush Bull-...

Grayscale, Coinbase sit down with SEC over spot Ether ETF

Challenging Days Ahead for Tron as Profitability Sparks Concern

Join our free newsletter for daily crypto updates!