Prisma Finance

Million

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/prisma-finance-suffers-a-10-million-hack-attack/" data-wpel-link="internal">Prisma Finance Suffers a $10 Million Hack Attack</a><br></p>
<p class="p1" style="text-align: justify">The decentralized finance protocol <strong>Prisma Finance</strong> fell victim to a hack attack on March 28, with losses nearing $10 million. <a href="https://en.coin-turk.com/indexed-finance-how-the-hack-attack-was-thwarted-and-funds-restored/" data-wpel-link="internal">Blockchain</a> security alert provider Cyvers was the first to detect the anomaly according to a March 28 post. Shortly after the initial alert, Cyvers identified an additional fraudulent transaction of $1 million, bringing the total funds compromised to approximately $10 million.</p> 
<h2 class="p1" style="text-align: justify" id="prisma-finance-hit-by-hack-attack">Prisma Finance Hit by Hack Attack</h2> 
<p class="p1" style="text-align: justify"><strong>Prisma Finance</strong> stated in a March 28 post that its core engineers and contributors would pause and investigate the protocol. Prisma is a decentralized liquid staking token protocol with a total value locked (TVL) exceeding $222 million, according to blockchain data analysis platform DefiLlama.</p> 
<p class="p1" style="text-align: justify">According to Cyvers, following the initial hack, the attacker began converting the stolen funds to <a href="https://coin-turk.com/ethereum-eth-icin-son-durum-ne-iste-onemli-veriler-ve-uzman-yorumlari" data-wpel-link="internal">Ethereum</a>. Blockchain security firm PeckShield stated that the attack is still ongoing, and shared the following on social media platform X on March 28:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The attack continues and the total loss has now risen to 3,257.7 <a href="https://en.coin-turk.com/record-breaking-interest-in-cme-groups-ethereum-options-what-does-this-mean-for-the-cryptocurrency/" data-wpel-link="internal">Ethereum</a>, valued at $11.6 million. Investors should follow official sources for updates and remain vigilant against scams.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-334570" src="https://coin-turk.com/wp-content/uploads/2024/03/prisma.jpg" alt="" width="500" height="1105"></p> 
<p class="p1" style="text-align: justify">As seen in the image above from <strong>PeckShield</strong>, other scammers are also trying to exploit this vulnerability. Beneath the official Prisma Finance announcement, a fake Prisma Finance account with a gold badge is attempting to direct users to a suspicious link. Closer inspection reveals that the fake account has no connection to Prisma Finance.</p> 
<h2 class="p1" style="text-align: justify" id="hack-attacks-in-the-crypto-space">Hack Attacks in the Crypto Space</h2> 
<p class="p1" style="text-align: justify">Hack attacks continue to erode the legitimacy of the crypto sector. According to blockchain security firm Immunefi, until February 29, 2024, over $200 million was lost in 32 separate incidents of crypto hack attacks and rug-pull events.</p> 
<p class="p1" style="text-align: justify">The loss of over $200 million represents a 15.4% increase compared to January and February 2023, when $173 million in crypto assets were stolen. A report published by Immunefi on December 28 states that in 2023, a total of $1.8 billion was lost to crypto hackers and scammers, with 17% attributed to the North Korean Lazarus Group.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/prisma-finance-suffers-a-10-million-hack-attack/" data-wpel-link="internal">Prisma Finance Suffers a $10 Million Hack Attack</a></h5>

Prisma Finance Suffers a $10 Million Hack Attack

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