Crypto Hack Weekly Report: Threat Analysis and Major Escalation of Hacks
Post Cryptocurrency Hacker Weekly Report: Threat Analysis and Major Hacking Escalation first appeared in Coinpedia FinTech News
The past week has seen the first AI poisoning attacks, phishing-related thefts and large-scale attacks on DeFi platforms. They reveal new attack patterns and explain why it’s important for the blockchain industry to strengthen security.
1. The first AI poisoning attack on Solana wallet
this is the first report Artificial intelligence poisoning attack in the cryptocurrency field, the victim lost $2,500 in the Solana wallet where digital currencies were stored. Users used ChatGPT to build a meme token sniper bot called Pump.fun for the Solana-based platform.
However, the attackers targeted the user’s profile and placed API links containing the backdoor into conversations. The attacker was able to access the user’s private wallet keys. SOL, USDC, and some stolen meme coins were transferred to a wallet that was linked to more than 281 other similar transactions.
2. Phishing scheme nets $6.3 million; DOJ takes action
Five people linked to hacker groups 0ktapus and Scattered Spider have been arrested sued Responsible for the U.S. Department of Justice (DOJ). These groups coordinated different phishing scams aimed at harvesting the credentials of employees at technology and cryptocurrency companies. Hackers exploited and bypassed the organization’s two-factor authentication (2FA) and stole $6.3 million worth of cryptocurrency, among other information.
These phishing campaigns targeted four different countries and used highly sophisticated methods. If the defendants are convicted, they risk 20 years in prison.
3. Polter Finance lost $7 million due to DeFi vulnerability
Decentralized financial DeFi platform based on Fantom blockchain targeted In a smart trading compromise, $7 million ended up being lost. The attacker used Tornado Cash, a privacy-based platform built on Ethereum, to launder coins and switch them to the Fantom network, exploiting the Polter Finance vulnerability.
In response, Polter Finance suspended trading operations, sent reports of unauthorized transfers of stolen assets to cross-chain bridges, and worked with authorities to track the addresses in question.
Conclusion: Strengthening the Security of the Cryptocurrency Ecosystem
This week’s events illustrate the growing sophistication of cyber threats targeting cryptocurrencies and exploiting artificial intelligence, phishing and DeFi weaknesses. Although innovations such as artificial intelligence and cross-chain are easy to implement, they also come with many risks.
For the benefit of investors and developers, the cryptocurrency industry needs to be more proactive with security measures, employing code verification technology, monitoring threats and partnering with blockchain security companies. This is critical to maintaining trust and developing a healthy decentralized finance ecosystem, so these defenses must be strengthened.
