Weekly Blockchain Security Watch

January 8 to January 14

From January 8, 2024 to January 14, 2024, all security incidents that had occurred can be categorized into Security Hacks and Rug-pulls.

SECURITY HACKS:

1. WiseLending Suffers Exploit

On January 13, an Ethereum deployed dApp Wise Lending suffered an exploit.

The attacker’s address is 0xB90CF1d740B206B6d80854BC525E609Dc42B45Dc on Ethereum.

The root cause of this incident was a rounding issue.

178 $ETH worth around US $455,000 were exploited in this incident.

RUG-PULLS:

1. Pontem Token Rug-pull

On January 14, an Ethereum deployed token Pontem was confirmed to be a rug-pull.

The token is deployed at 0x2a191db1c7d52a1c2dfd31b7439784db5ef98f41 on Ethereum.

2,200,000,000,000,000 $Pontem was swapped for 27.5 $ETH worth around US $69K.

The price of $Pontem dropped by nearly 100.00% after the rug-pull.

CONCLUSION-

2 notable security incidents have occurred in the past week. One was an attack on smart contracts 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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