Weekly Blockchain Security Watch

August 26 to September 1

From August 26, 2024 to September 1, 2024, all security incidents that had occurred can be catrgorized into Security Hacks and Rug-pulls.

SECURITY HACKS:

1. AVAX Discord Server Compromised

On August 26, AVAX@avax announced that its Discord server was compromised.

AVAX is a permissionless blockchain.

RUG-PULLS:

1. FreePavel Token Rugpull

On August 27, an Ethereum deployed token Free Pavel was confirmed to be a rug-pull.

The token is deployed at 0x8D3ef094A8c5980DbddBA23b6Dff61AA5DaD6a43 on Ethereum

After the rugpull, the price of the token dropped by 100%.

35 $ETH worth around US $94,000 were exploited in this incident.

CONCLUSION-

2 notable security incidents have occurred in the past week. One was an attack on social media, and the other was a rug-pull.

A Reminder for Project Teams: Always test thoroughly. Do smart contract audits before deploying smart contracts on-chain. Be alert to any anomalies happening in the various social media accounts you manage.

A Reminder for Crypto Users: Be cautious about suspicious links, emails, websites, and projects launched by teams without established reputations.

It is important for everyone in the crypto community to gain understanding and practice sufficient levels of cybersecurity.

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