Nov 24, 2022
In 2014 Mt. Gox which was the biggest Bitcoin exchange world wide at that time went bankrupt. The aftermath was a disaster since the platform got hacked earlier and an amount of 744,408 BTC left a gigantic hole in the company’s balance sheet. Over 8 years later some of these stolen coins are all of a sudden on the move.
Oct 13, 2022
Statistically speaking, October is one of the best-performing months for Bitcoin. While the market is waiting for inflation data to be presented, the “Uptober” became the “Hacktober” this week. Two DeFi protocols got hacked this week and hackers damaged investors for millions of Dollars again. What happened during the recent events and what makes one case specifically obscure?
Oct 10, 2022
Celsius is putting up a show after filing for chapter 11 bankruptcy in June. The past 4 months have been quite a ride for Celsius customers. Documents show that former CEO Alex Mashinsky cashed out about $17 million together with other top executives. His wife took out another $2 million just before customer accounts were frozen. This sheds a bad light on Celsius management and many people are wondering if these actions were legal. Why are there documents available with customers’ legal names and their investments? And have you been doxed as well?
Oct 07, 2022
The Binance Smart Chain is the second most successful smart contract platform and has created a vibrant ecosystem of DeFi applications. Only Ethereum created a bigger universe of decentralized services and products. Yesterday, the BSC was suffering from an exploit of epic proportions and Binance called to the validators to undertake drastic measures. How was the Binance Smart Chain hacked and how was the situation resolved?
Aug 26, 2022
We all like James Bond movies. Fast cars, stunning action, and a hero who saves the world over and over again. The truth is that covert operations usually don’t involve shootings on the rooftops of Istanbul or having a Martini while gambling in a casino in Monaco. Still, each time the name of a three-letter agency drops the story is exciting despite the fact that they often lack movie-like actions. Was the FSB involved in Tornado Cash and why is there reason to believe so?
Aug 24, 2022
GeneralBytes is one of the world’s biggest producers of Bitcoin ATMs and their products are present in over 143 countries. Last weekend there was a security breach that was used to bring ATMs under the attacker’s control. It is yet unclear how much damage was done due to the attack but GeneralBytes confirmed the incident which is quite a shock. What happened to those Bitcoin ATMs, how did this security breach got fixed and what should you keep in mind using an ATM?
Aug 15, 2022
A dust attack or dusting is a method where the attacker sends a small amount of cryptocurrency to its victim. While sending a gift in crypto sounds harmless it can have a lot of implications. Users usually don’t notice tiny amounts and attackers use that method to track down the owner of the wallet by monitoring where the dust is transferred subsequently after being received. The most recent dust attack is quite different but it seems that it is highly effective. Why are users sending Ether to prominent figures using Tornado Cash and how is that impacting their ability to participate in the market?
Aug 08, 2022
The Nomad bridge was hacked by a mob of users who basically copy-pasted a line of code to repeat an already working exploit. This has created a unique situation and perhaps the first crowd hack in the history of decentralized finance. While this is somewhat amusing the consequences are dire. Now that the smoke has settled it becomes clear that $190 million were stolen during the incident. This is not only crushing for the team behind Nomad but also devastating to the reputation of the broader crypto community. But not all hope is lost. How much was returned of the funds and what kind of consequences are the thieves facing?
Aug 02, 2022
A cross-chain bridge is a DeFi protocol that allows users to transfer assets from one blockchain to another. While this sounds very simple it is indeed a complex operation that not only requires running smart contracts on multiple ends but also enough liquidity on all involved chains to service users who are looking to bridge their assets. Yesterday an incident occurred that was sad, to say the least. What is Nomad and how did the protocol get exploited for about $150 million?
May 27, 2022
Theft has been a problem in crypto ever since its beginning. As soon as a hacker has gained access to a wallet or is able to exploit a protocol, crypto becomes vulnerable. All transactions are final, which means that the victims cannot get their assets back. But this situation is about to change partially since MetaMask is partnering with Asset Reality. What does this partnership look like and how can crypto assets that have been stolen be recovered?
May 17, 2022
The difficulty of the Bitcoin network keeps setting records. It continues to rise, in a fairly straight line. The difficulty has increased by 30% since the beginning of 2022. This means that Bitcoin miners worldwide have an additional 30% of capacity on aggregate. And thus, per unit of computing power, are paid 30% less Bitcoin for their effort. How can that be profitable while the price of Bitcoin is falling?