Attack

In the latest rounds of attack on DeFi (Decentralized Finance), FinNexus Options Protocol and DeFi platform lost close to $8 million. DeFi experts say the attack was either executed via stolen admin keys or a rug pull. In the attack, FinNexus lost more than 383 million FNX tokens pushing the price of the token to plummet by at least 90%.

With New Zealand Exchange Cryptopia in the midst of a liquidation process, hackers seem to consider it an easy victim. Despite it being under the supervision of Grant Thornton liquidators, criminals have stolen over $40,000.

For a couple of decades, people have misused the anonymity features of most cyber platforms to attack, abuse or harm others and this has been a big problem to society. But now, blockchain-based digital IDs could be a solution to combat online abuse and trolling while observing maximum anonymity.

There are some kinds of cyberattacks that blend in the ordinary network activity, so they are very easy to miss. How should an organization protect oneself against them?

Blockchain technology is considered to be secure and immutable due to its decentralized nature. But as it becomes more popular with new solutions popping up almost daily, hackers become inventive enough to find vulnerabilities and attack it.

Various uncommon types of viruses have been created by cyber attackers and are now being used to attack cryptocurrency holders.

Phishing attacks have been a widespread tool for stealing and misusing people’s credentials. Now, they have penetrated the cryptocurrency industry, mostly to get access and steal the users’ funds.

Updated: It seems Lucifer malware designed to mine Monero (XMR) is getting stronger. Now, it can affect not only Windows-based computers, but also Linux-based ones.

2020 has seen a significant increase in the number of scams related to cryptocurrency. To lure out people’s money, scammers constantly improve their schemes and invent new approaches to look more reliable and trustful.