Weekly Blockchain Security Watch
August 5 to August 11
From August 5, 2024 to August 11, 2024, all security incidents that had occurred are Security Hacks.
SECURITY HACKS:
1. Axie Infinity Suffers Exploit
On August 6, Axie Infinity@AxieInfinity suffered an exploit. More specificially, its Ronin bridge was compromised.
It was likely front-run by an active MEV bot, which withdrew 4,000 ETH and 2 million USDC from the cross-chain bridge.
Crypto assets worth around US $12 million were exploited in this incident.
2. Nexera Suffers Exploit
On August 7, Nexera@Nexera_Official Suffers Exploit suffered an exploit.
The hack was possible due to its EOA address 0xA8a0152c8f39F6c257aBbA99D3c8997a70Ee0df1 being compromised.
Crypto assets worth around US $448,000 were exploited in this incident.
CONCLUSION-
2 notable security incidents have occurred in the past week. One was an attack on a cross-chain bridge and the other was an attack on smart contracts.
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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