Monday, May 20, 2024

Investigating Recent Crypto Hacks: PolyNetwork Exploiter and Phishing Attacks

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In the world of cryptocurrency, security breaches and hacking incidents have become all too common. Today, we delve into two major events that have unfolded in the past 24 hours. The first involves the PolyNetwork Exploiter, where significant amounts of various cryptocurrencies have been consolidated into a single address. The second revolves around two distinct phishing attacks targeting different Discord servers. Let’s investigate further.

PolyNetwork Exploiter:

PeckShield, a well-respected blockchain security firm, has alerted the community about the PolyNetwork Exploiter. In this alarming development, approximately 1,007 Ethereum (ETH), worth a staggering $1.87 million, has been traced to a consolidation address. This address, 0xcC2bb79B9413150F389C0CC2c646c6904F69f7af, has accumulated a diverse range of cryptocurrencies.

Among the funds in this address, 147.8K FEI and 488.6K TRIBE have been swapped for roughly 151 ETH. Additionally, 1 million OOE has been exchanged for 2.4 ETH, while over 100K Metis has been swapped for approximately 720 ETH. PeckShield’s investigation reveals that the addresses associated with the PolyNetwork Exploiter have engaged with various centralized exchanges, including Binance, MEXC, and Coinbase.

Further analysis unveils that 14.67 million ERC20-EPK tokens, worth $126.46k, have been transferred to MEXC. In another transaction, a whopping 1785.27 billion SDOG tokens, equivalent to around $153.8k, were moved to the address 0xf78b77b0a325f83cf81f41861d779034d3dd0c8b. Additionally, 5.76 million KEL tokens have been transferred to the address 0x5f39…7f42, while around 3.6 million KEL has been exchanged for roughly 15.6 ETH.

Phishing Attacks:

While the PolyNetwork Exploiter incident has shocked the cryptocurrency community, two separate phishing attacks targeting Discord servers have also come to light. The first attack has affected the Discord server of @Releap_IO. Users are strongly warned against clicking any links posted within the server until the team confirms they have regained control.

The second attack targeted the Discord server of @overnight_fi. Hackers gained unauthorized access and proceeded to post a phishing site. As a precaution, community members are advised to refrain from clicking on any links until the team declares that they have regained control over their server.

Crypto hacks and phishing attacks have become an unfortunate reality in the digital asset space. The PolyNetwork Exploiter case highlights the magnitude of the theft, with substantial amounts of funds from various cryptocurrencies being consolidated into a single address. Meanwhile, the phishing attacks on Discord servers remind us of the constant vigilance required to safeguard our digital assets.

As investigations continue, it is crucial for cryptocurrency enthusiasts to remain cautious when interacting with platforms and clicking on suspicious links. By staying informed and implementing robust security measures, we can collectively work towards a safer and more secure crypto environment.

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