Features TheBitTimes.com

A security breach has resulted in the loss of 2,675.73 XMR from Monero's community crowdfunding wallet. The cause and source of the breach remain unidentified. A recent attack compromised Monero’s community crowdfunding wallet , wiping out its entire balance of 2,675.73 Monero (XMR), worth nearly $460,000. The incident took place on Sept. 1 but was only disclosed on GitHub on Nov. 2 by Monero’s developer Luigi. According to him, the source of the breach has not been identified yet. "The CCS Wallet was drained of 2,675.73 XMR (the entire balance) on September 1, 2023, just before midnight. The hot wallet, used for payments to contributors, is untouched; its balance is ~244 XMR. We have thus far not been able to ascertain the source of the breach." Monero’s Community Crowdfunding System (CCS) funds development proposals from its members. “This attack is unconscionable, as they’ve taken funds that a contributor might be relying on to pay their rent or buy food,” noted in...

The Organized Crime and Corruption Reporting Project (OCCRP) has reportedly obtained the security report created by Ledger Labs that was commissioned by Bitfinex after its 2016 hack. The report details numerous failures to follow industry best practice, failure to practice adequate logging, and failure to implement a whitelist. The Bitfinex hack backstory On August 2, 2016, Bitfinex was hacked in what was then the second-largest Bitcoins hack ever recorded. Indeed, 120,00 coins — then valued at around $70 million but today worth over $3 billion — were withdrawn from the platform forcing it to disable all deposits, trading, and withdrawals in response. In the wake of the attack, Bitfinex announced that “We have arrived at the conclusion that losses must be generalized across all accounts and assets.” The company also claimed that every single account would receive a 36.067% haircut, and for each dollar that represented, users would receive a BFX token, valued ...

FTX Claimants Data Compromised in Kroll’s Security Incident Beleaguered crypto exchange FTX took to X on August 25 to inform its customers, creditors, and the community that its claims agent Kroll has suffered a cyber security breach. The incident has compromised non-sensitive customer data of certain claimants in the pending bankruptcy case. advertisement FTX said Kroll currently notifying individuals affected by the cyber security incident measures they can take to protect themselves. The bankrupt crypto exchange cleared that its account passwords and systems are safe. “The incident occurred at Kroll, and Kroll is notifying affected individuals directly with measures that customers can take to protect themselves. FTX account passwords were not maintained by Kroll, and FTX’s own systems were not affected.” Moreover, FTX Debtors have reached out to Kroll and closely monitoring the situation. Kroll disclosed to debtors that they have prom...

Crypto lawyer s John Deaton and Mike Selig took to Twitter to debunk misconceptions about the judge Torres’ decision regarding XRP’s security status . The legal experts sought to clarify the ruling amid what they deemed to be widespread inaccuracies perpetuated by financial commentators and even some politicians. John Deaton, the founder of CryptolawUS, expressed his concern about the misinterpretation of the US judge Torres decision, questioning whether it was a result of genuine confusion or intentional misinformation to push false narratives. He called out politicians like Brad Sherman, accusing them of disregarding the law to gain more control over financial markets. It’s amazing how many people including financial commentators continue to misstate the Torres Decision. Mike explains it well below. The question I have is whether this is genuine confusion or are people intentionally misstating what she said to promote a false narrative.… https://t.co/1xXqiNEi4F ...

Tres Finance co-founder Tal Zackon warned businesses to not use explorers when tracking their finances. Decentralized Finance (DeFi) protocol Tres Finance warned the community about a scam that involves fake token s designed to mimic legitimate transactions. In an interview, Tres Finance co-founder Tal Zackon and the company’s technical lead Idan David shared the details of a scam using fraudulent transactions that imitate legitimate ones. According to the duo, the scammers attempt to lure unsuspecting users to copy the wrong wallet address and send their transactions there. David further explained that scammers often identify and target wallets with large amounts of stablecoins like Tether (USDT) or USD Coin (USDC). Once the scammers locked into their targets, they create similar-looking wallet addresses and create token s that imitate the legitimate ones. David explained: “So, they're creating a new token that has the same symbol as the original token, and they can create ficti...

Deaton alerts followers via daughter's account and urges reporting the hack as the XRP community responds, spreading awareness. Pro-XRP lawyer, John Deaton, has suffered a phone hack on June 4, after a relentless cyberattack over several days.  CryptoLaw, an account created by the attorney representing over 76,000 XRP token holders in the Ripple Vs U.S. Securities and Exchange Commission (SEC) lawsuit, responded to the hacker's tweet from the attorney 's account. CryptoLaw clarified that the tweets were not coming from Deaton but from hackers and immediate steps are being taken to remedy the situation. The hack happened as Deaton celebrated his birthday amid wishes from all corners of the crypto asset community. Tweets coming out from the hackers promoted a cryptocurrency named $LAW token , which has an almost non-existent market cap currently. Known for his resolve in confronting regulatory enforcement measures implemented by United States agencies, the attorney has es...

CertiK has contacted law enforcement in the U.S. and U.K. to find the pseudonymous operators. Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider "rugpull" that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on May 5. “We have successfully frozen $160K of the stolen funds with the help of partners,” CertiK said, adding that they’re continuing to monitor the movement of the stolen funds: We have successfully frozen $160K of the stolen funds with the help of partners. We will continue to monitor the movement of all stolen funds in an attempt to freeze and recover the remaining amount. — CertiK (@CertiK) May 4, 2023 The firm explained that they tried to “collaborate” with Merlin to recover the funds stolen from the April 25 " rugpull " but the e...

Students showcased new Web3 solutions focused on enabling better user experience, privacy and security at ETHDenver 2023. Thousands of attendees recently gathered at Denver’s National Western Complex for ETHDenver 2023 to learn about the current and future cryptocurrency ecosystem.  John Paller, founder and executive steward of ETHDenver, told Cointelegraph that 15,000 ticketholders attendedr ETHDenver’s main event. While ETHDenver attracted a diverse crowd, many students from leading universities attended the event, showcasing new solutions to advance the crypto and Web3 sector. Devs focus on UX, security and privacy Gil Rosen, president of the Stanford Blockchain Accelerator — a program that connects Stanford University students and alumni founders in the Blockchain space — told Cointelegraph that he believes current Web3 Technology platforms are generally non-performant. “These platforms often lack privacy preservation, are extremely challenging to develop on (especially complex...