Monday, May 20, 2024

Uncovering the Recent Crypto Hacks: Millions Lost and Potential Exit Scam

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In the realm of cryptocurrency, where fortunes can be made and lost in the blink of an eye, security vulnerabilities present an ongoing challenge. In the past 24 hours, several alarming incidents have come to light, involving significant sums of money and potential exit scams. In this investigative report, we dive deep into these incidents to shed light on the latest hacking news that has rocked the crypto world.

1. The Return of Stolen Funds to Curve Deployer:

PeckShieldAlert, a leading cybersecurity firm, has revealed that c0ffeebabe.eth has returned a staggering 2,879 ETH (~$5.4 million) to the Curve deployer. This surprising turn of events follows recent exploits of approximately $52 million from prominent projects like AlchemixFi, JPEGd_69, MetronomeDAO, DebridgeFinance, Ellipsisfi, and Curve CRV-ETH. Further analyses are underway to determine the motives and individuals involved in these incidents.

2. Exit Scam Alert: Kannagi_Zksync:

CertiKSkynetAlert has sounded the alarm bells on a potential exit scam involving the Kannagi_Zksync project. With reports flooding in, it is evident that this project has perpetrated a calculated maneuver. The Kannagi_Zksync contract (0x26aC1D9945f65392B8E4E6b895969b5c01A7B414) has plummeted by a staggering 99%. Adding to the suspicions, the project’s social media accounts and websites have mysteriously vanished.

Upon closer inspection, it appears that the project’s vaults were unauthorizedly emptied, and funds were swiftly transferred to alternative chains. The breakdown of the funds channeled to these chains is both diverse and alarming:

– Ethereum (ETH): $326,330.63
– Binance Smart Chain (BSC): $302,580
– Polygon (MATIC): $187.73
– Optimism (OP): $177,815.19
– Arbitrum (ARB): $186.43
– Avalanche (AVAX): $237,923
– Total bridged: $1,045,022

The sheer magnitude of these figures underscores the scope of the crime committed by Kannagi_Zksync.

The crypto world remains a hotbed for illicit activities and security vulnerabilities. The recent incidents of stolen funds and potential exit scams serve as a stark reminder of the importance of robust security mechanisms and due diligence when investing in digital assets.

As thorough investigations are underway, it is imperative for the affected projects and the wider crypto community to work hand in hand, sharing information and collaborating with cybersecurity experts to prevent and combat such malicious activities. Only through collective efforts can we strive for safer and more secure cryptocurrency ecosystems.

Disclaimer: The information provided in this article is based on publicly available sources and does not constitute financial or investment advice. Readers are encouraged to conduct their own research and exercise due diligence before making any investment decisions.

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