#1 Trusted Cybersecurity News Platform Followed by 4.50+ million
The Hacker News Logo
Get the Free Newsletter
SaaS Security

DeFi | Breaking Cybersecurity News | The Hacker News

Crypto Trading Firm Wintermute Loses $160 Million in Hacking Incident

Crypto Trading Firm Wintermute Loses $160 Million in Hacking Incident

Sep 21, 2022
In what's the latest crypto heist to target the decentralized finance (DeFi) space, hackers have stolen digital assets worth around $160 million from crypto trading firm Wintermute . The hack involved a series of unauthorized transactions that transferred USD Coin, Binance USD, Tether USD, Wrapped ETH, and 66 other cryptocurrencies to the  attacker's wallet . The company said that its centralized finance (CeFi) and over-the-counter (OTC) operations have not been impacted by the security incident. It did not disclose when the hack took place. The digital asset market maker, which provides liquidity to more several exchanges and crypto platforms, warned of disruption to its services in the coming days, but stressed that it's "solvent with twice over that amount in equity left." "We are (still) open to treat[ing] this as a white hat, so if you are the attacker – get in touch," the company's founder and CEO, Evgeny Gaevoy,  said  in a tweet. Detai
U.S. Seizes Cryptocurrency Worth $30 Million Stolen by North Korean Hackers

U.S. Seizes Cryptocurrency Worth $30 Million Stolen by North Korean Hackers

Sep 09, 2022
More than $30 million worth of cryptocurrency plundered by the North Korea-linked Lazarus Group from online video game Axie Infinity has been recovered, marking the first time digital assets stolen by the threat actor have been seized. "The seizures represent approximately 10% of the total funds stolen from Axie Infinity (accounting for price differences between time stolen and seized), and demonstrate that it is becoming more difficult for bad actors to successfully cash out their ill-gotten crypto gains," Erin Plante, senior director of investigations at Chainalysis,  said . The development arrives more than five months after the  crypto hack  resulted in the theft of $620 million from the decentralized finance (DeFi) platform Ronin Network, with the attackers laundering a majority of the proceeds – amounting to $455 million – through the Ethereum-based cryptocurrency tumbler Tornado Cash. The March 2022 cryptocurrency heist resulted in losses totaling 173,600 ETH wort
Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl
FBI Warns Investors to Take Precautions with Decentralized Financial Platforms

FBI Warns Investors to Take Precautions with Decentralized Financial Platforms

Aug 30, 2022
The U.S. Federal Bureau of Investigation (FBI) on Monday warned of cyber criminals increasingly exploiting flaws in decentralized finance (DeFi) platforms to plunder cryptocurrency. "The FBI has observed cyber criminals exploiting vulnerabilities in the smart contracts governing DeFi platforms to steal investors' cryptocurrency," the agency  said  in a notification. Attackers are said to have used different methods to hack and steal cryptocurrency from DeFi platforms, including initiating flash loans that trigger exploits in the platforms' smart contracts and exploiting signature verification flaws in their token bridge to withdraw all investments. The agency has also observed criminals defrauding the platforms by manipulating cryptocurrency price pairs – assets that can be traded for each other on an exchange – by exploiting a series of vulnerabilities to bypass  slippage checks  and steal roughly $35 million in digital funds. It further said that the threat ac
cyber security

The Critical State of AI in the Cloud

websiteWiz.ioArtificial Intelligence / Cloud Security
Wiz Research reveals the explosive growth of AI adoption and what 150,000+ cloud accounts revealed about the AI surge.
Microsoft Warns of 'Ice Phishing' Threat on Web3 and Decentralized Networks

Microsoft Warns of 'Ice Phishing' Threat on Web3 and Decentralized Networks

Feb 18, 2022
Microsoft has warned of emerging threats in the  Web3  landscape, including "ice phishing" campaigns, as a surge in adoption of blockchain and DeFi technologies emphasizes the need to build security into the decentralized web while it's still in its early stages. The company's Microsoft 365 Defender Research Team called out various new avenues through which malicious actors may attempt to trick cryptocurrency users into giving up their private cryptographic keys and carry out unauthorized fund transfers. "One aspect that the immutable and public blockchain enables is complete transparency, so an attack can be observed and studied after it occurred," Christian Seifert, principal research manager at Microsoft's Security and Compliance group,  said . "It also allows assessment of the financial impact of attacks, which is challenging in traditional Web2 phishing attacks." The theft of the keys could be carried out in several ways, including im
Cybersecurity Resources