Security remains the top priority for crypto investors and users in the ever-changing digital asset world. This week’s SlowMist Weekly Security Report covers February 25–March 2, 2024, and discusses several scary crypto community events.
Slowmist Report: MicroStrategy Account Posts Phishing Links, Causes $440K Theft
A rug puller brought down cryptocurrency project Shido Network this week, one of the worst things to happen. Tokens worth 692 ETH were stolen and dumped in a classic SHIDO token staking contract manipulation causing a big $2.1 million loss for investors.
The Capital Killer hacker group also attacked Grayscale Capital’s website, a major cryptocurrency investor. The attack failed on the main site but not Grayscale’s GBTC investment product page.
Hackers stole money from a Serenity Shield-linked MetaMask wallet. Thieves stole 6.9 million SERSH tokens, worth $586,000. This shows that crypto security breaches persist.
Seneca was hacked due to contract flaws that allowed over 1900 ETH worth $6.5 million to be transferred without permission. The next day, Seneca’s deployer address received 1537 ETH of the stolen money, which was surprising.
privacy-focused cryptocurrency Aleo embarrassed itself by accidentally sharing user documents with ten people via email. Even for privacy-focused projects, this event highlights the importance of strong security protocols.
Criminals also liked Twitter, where a hacked MicroStrategy account posted phishing links. These links caused the theft of $440,000 in goods, demonstrating the need for better security on cryptocurrency social media.
Tornado Cash Governance Hijack Raises Concerns Over Smart Contract Security
After the Tornado Cash governance hijack, smart contract security was scrutinized. The IPFS version of Tornado Cash had a backdoor for deposit certificate theft. It highlights the complexities involved in ensuring the security of decentralized applications.
RiskOnBlast disappeared abruptly to end the week. The rug pull cost users 420 ETH, or $1.3 million. This incident left the community in shock. Moreover, it served as a stark reminder of the risks associated with investing in the crypto space.
Over $11.5 million was lost due to security incidents. The crypto community must be vigilant and take security measures for funds of safety. Remember that more security incidents may have gone unreported than the above. This shows how crucial strong security protocols are in the ever-changing cryptocurrency world.
