Ethereum News by Thebittimes.Com

BNB Chain had the most incidents during the quarter, while Ethereum saw the largest amount lost. Hackers were able to gain access to more than $320 million in the first quarter of 2023 alone, according to on-chain data consolidated by Blockchain Security firm CertiK in its quarterly report. The losses were significantly lower than in 2022’s first and fourth quarters, when Hackers took around $1.3 billion and $950 million, respectively. According to CertiK, the low amount of losses may be linked to events happening off-chain that had an impact on the crypto industry as a whole, such as the issues with Silvergate Bank and the depegging of USD Coin (USDC) at the height of the Silicon Valley Bank collapse. Out of the funds stolen within the quarter, over $31 million was lost to 90 exit scams, while more than $222 million was lost in 52 flash loan and oracle manipulation exploits. Regarding incidents and the amount lost per blockchain, CertiK highlighted that BNB Chain had 139 incidents,

BitFlyer USA, a subsidiary of bitFlyer Holdings, is licensed to operate in New York since 2017. The NYDFS acknowledges the efforts of the crypto exchange to improve its cybersecurity program by the year’s end. advertisement BitFlyer USA Fined by NYDFS According to a consent order on May 2, the New York State Department of Financial Services has fined bitFlyer USA $1.2 million for violating cybersecurity regulations. BitFlyer USA provides cryptocurrency trading and custodial wallet services in the U.S. The NYDFS conducted investigations of bitFlyer USA since providing a license under the Virtual Currency Regulation and Cybersecurity Regulation in 2017. The NYDFS found multiple shortfalls in the exchange’s Cybersecurity program. The New York regulator said bitFlyer USA failed to fully comply with the Cybersecurity Regulation. Also, it failed to establish and maintain an effective cybersecurity program through written policies as per the Virtual Curr

The team flagged almost $25 million worth of NFTs hacked through offline signatures at the time of writing. A wallet security team released a real-time dashboard that lets community members detect, track and monitor potential nonfungible token (NFT) hacks using offline signatures in the OpenSea marketplace.  According to the team behind crypto wallet ZenGo, they created an NFT hack detect or using a simple method. This includes tracking realized NFT trades in the NFT marketplace and comparing the trade amount of the NFT collection’s floor price. If the ratio between the two trade values is suspiciously low, it will get flagged as a potential hack. ZenGo wallet dashboard for detecting NFT hacks. Source: Dune Analytics At the time of writing, the dashboard flagged almost $25 million worth of NFTs hacked through offline signatures. Tal Be’ery, the chief technology officer of ZenGo, also told Cointelegraph that this type of hack differs from others in two ways.  First, this type of hack

Ankr protocol announced that it will be reissuing aBNBc tokens, promising that it will assess the situation and compensate affected users. As the BNB Chain-based protocol Ankr was exploited and the hacker dumped Ankr Reward Bearing Staked BNB (aBNBc) tokens, a trader took advantage of the price discrepancies to turn $2,879 into $15.5 million.  As previously reported by Cointelegraph, security firm Beosin suggested that the multi-million dollar exploit may have come from vulnerabilities in the smart contract code and compromised private keys due to a technical upgrade. Then, the hacker minted and dumped 20 trillion aBNBc tokens, significantly lowering the price of aBNBc. As this happened, a trader reacted quickly and took advantage of an opportunity. Going through on-chain data, Analysis platform Lookonchain recently shared how a trader allegedly managed to gain $15.5 million by making their way through the Helio Protocol platform. According to Lookonchain, the trader bought 183,885