Weekly Blockchain Security Watch

October 16 to October 22

From October 16, 2023 to October 22, 2023, all security incidents that had occurred can be categorized into Security Hacks and Rug-pulls.

SECURITY HACKS:

1. EVER Tokens Stolen

On October 17, the team of Everscale, a dApp deployed on Ethereum announced that the EVER tokens were stolen.

At the time of writing, the loss hadn’t been reported.

2. Fantom Foundation’s Wallets Compromised

On October 18, Fantom Foundation’s wallets were compromised and crypto assets in the wallets were drained.

At the time of writing the stolen assets were still at  0x0b1F29DF74A19C44745862ab018D925501FE9596 on Ethereum

Crypto assets worth around US $7 million were exploited in this incident.

3. Hope Lend Suffers Exploit

On October 19, Hope Lend, a dApp deployed on Ethereum suffered an exploit.

The root cause was that it had an issue with WBTC’s decimals and rounding.

Crypto assets worth more than US $825,357 were exploited in this incident.

RUG-PULLS:

1. Honest Ventures Rug-pull

On October 18, a BNB chain deployed dApp Honest Ventures was confirmed to be a rug-pull.

At the time of writing, the team behind the project had deleted their social media accounts on X, Telegram and Instagram

Crypto assets worth around US $58,000 were rug-pulled in this incident.

CONCLUSION-

4 notable security incidents have occurred in the past week. 3 were attacks on smart contracts or wallets and 1 was a rug-pull.

It is worth noting that the loss in the Fantom incident that occurred in the last week was $7 million.

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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