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⁤Layerswap, a platform facilitating transactions between centralized cryptocurrency exchanges and layer-2 blockchains, has regained control over its domain after it was briefly hijacked, leading to the loss of approximately $100,000 from users. ⁤
The security breach occurred on March 20 at 19:40 UTC, when the layerswap.io domain was taken over, redirecting users to a phishing site. ⁤⁤Shortly after the domain compromise, the attacker also attempted to reset Layerswap’s social media account on platform X, effectively locking out the company. ⁤
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 🛠 Layerswap March 20 incident On March 20th, around 7:40 PM UTC, the <a href="https://twitter.com/GoDaddy?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@GoDaddy</a> account for our <a href="https://t.co/xGoN2q5vOa" target="_blank" rel="noopener noreferrer nofollow">https://t.co/xGoN2q5vOa</a> domain was compromised, and we're currently awaiting a comprehensive report from GoDaddy to understand the breach's specifics. Meanwhile, here's some context…— Layerswap (@layerswap) <a href="https://twitter.com/layerswap/status/1770679223876780091?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 21, 2024</a>
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According to Layerswap, <a href="https://crypto.news/tag/godaddy/" rel="noopener noreferrer nofollow">GoDaddy’</a>s slow response allowed the hacker to maintain control of the domain for a longer period of time. Around 23:07 UTC, LayerSwap recovered access to their GoDaddy account and undid the hacker’s changes. The business stated:
“In pursuit of understanding how the breach occurred, we engaged with GoDaddy support for explanations but were left without concrete answers. We agreed to receive a detailed report via email, which we plan to share with our community for transparency.”
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The sophisticated Layerswap phishing scheme was able to drain around $100,000 in cryptocurrency holdings from approximately 50 individuals. The company intends to fully repay the impacted users and offer an additional 10% as compensation for the inconvenience.
⁤⁤The company advised investors to revoke their token authorizations as a precautionary measure to prevent further losses and has initiated the refund process for those impacted. ⁤
⁤On March 20, hardware wallet provider Trezor was also targeted in a sophisticated cyberattack, resulting in the loss of at <a href="https://crypto.news/trezor-x-account-compromised-as-hackers-push-phony-solana-token/" rel="noopener noreferrer nofollow">least $8,100</a>. ⁤⁤Cybercriminals sent out deceitful messages about a non-existent “$TRZR” token presale on the Solana Network, directing Trezor’s followers to fraudulent websites equipped to drain wallets. ⁤
Amid these security breaches, the United Nations Security Council <a href="https://crypto.news/north-korea-gets-50-of-foreign-earnings-due-to-weak-security-measures-in-crypto-industry-un-says/" rel="noopener noreferrer nofollow">released</a> a report highlighting North Korea’s increasing involvement in cyberattacks, which are now a major source of its foreign currency earnings. ⁤⁤The report estimates that North Korea has garnered almost $3 billion through cyber heists, underscoring the vulnerabilities present in the cryptocurrency sector’s security measures. ⁤
Read more: <a href="https://crypto.news/un-investigate-five-dozen-north-korea-cyberattacks/" rel="noopener noreferrer nofollow"> UN authorities investigate nearly five dozen cyberattacks by North Korea </a>

Layerswap domain hijack ends, $100k stolen funds to be refunded

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