Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » Crypto Security Breaches: $8.8M Lost in a Week, Reveals Report

Crypto Security Breaches: $8.8M Lost in a Week, Reveals Report

Hania by Hania
June 11, 2024
in Altcoin News, Bitcoin News
Reading Time: 2 mins read
A A
0
Crypto Security Breaches: $8.8M Lost in a Week, Reveals Report
Share on FacebookShare on Twitter
ADVERTISEMENT

In recent days, the cryptocurrency world has been rocked by a series of significant security breaches resulting in staggering financial losses. SlowMist, a reputable blockchain security platform, has unveiled alarming statistics, revealing that targeted entities collectively lost over $8.8 million within the span of a week. The platform has released detailed insights into these incidents via its official X account

🚨 SlowMist Weekly Security Report
(June 3 – June 9, 2024) 🚨

Total Losses: Over $8.8M😱

Incident Highlights:

1. Loopring: $5M lost due to a security vulnerability that compromised the Loopring Smart Wallets. ⚠️
2. Gemholic: $3.4M lost in a rug pull, where the project…

— SlowMist (@SlowMist_Team) June 10, 2024

SlowMist’s Weekly Security Report Unveils 5 Significant Incidents

In its latest update, SlowMist has released its “Weekly Security Report” covering the period from June 3rd to June 9th. According to the report, a total of five security breaches occurred during this time frame, each causing substantial financial harm to the affected entities. Among the notable incidents highlighted were breaches impacting Loopring, Gemholic, TLN Protocol, SteamSwap, and NCD.

Crypto Security Breaches: $8.8M Lost in a Week, Reveals Report

You May AlsoLike

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote

November 4, 2024
$BC token launch

$BC Token Launch and 1 Billion $BC Airdrop: A New Era for BC.Game

November 1, 2024

Loopring Exploit: Targeting Smart Wallets

One of the prominent breaches involved Loopring, where a security vulnerability within the platform was exploited by malicious actors. Exploiting this loophole, attackers successfully targeted Loopring Smart Wallets, resulting in the misappropriation of assets valued at up to $5 million.

Gemholic Disappearance: Rug Pull Event

Gemholic experienced a sudden disappearance after purportedly redirecting investors’ funds, leading to losses amounting to nearly $3.4 million. This incident, categorized as a “rug pull” event, underscores the vulnerability of investors to fraudulent activities within the crypto space.

Contract Vulnerabilities: A Common Thread in Three Incidents

Three of the security breaches identified by SlowMist were attributed to vulnerabilities within smart contracts. TLN Protocol fell victim to an exploitative attack after an attacker capitalized on a contract vulnerability, resulting in losses exceeding $280,000 on BNBChain.

Similarly, SteamSwap suffered a breach due to a contract vulnerability, leading to financial losses totalling $105,000 on BNBChain. The fifth incident involved an attack on NCD, where a contract vulnerability culminated in losses approaching $20,000 on BNBChain.

Also Read: How Deepfake Scammers Are Draining Millions from Crypto Users
Tags: crypto newscyber crime
Share76Tweet47
ADVERTISEMENT
Previous Post

Ripple (XRP) vs. Cardano (ADA): Which Cryptocurrency Will Lead the Recovery Charge?

Next Post

Meme Coins on the Rise: Inside the $2.4 Million Profit of a Crypto Trader

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote
Altcoin News

Election-Themed Meme Coins Experience Price Surge Ahead of U.S. Presidential Vote

November 4, 2024
$BC token launch
Altcoin News

$BC Token Launch and 1 Billion $BC Airdrop: A New Era for BC.Game

November 1, 2024
Why Chris Larsen's XRP Donation to Kamala Harris Matters
Altcoin News

Ripple Co-Founder Chris Larsen Backs Kamala Harris with $10M XRP Donation

October 23, 2024
Bitcoin Treasure Hunt- James Howells Takes Legal Action Over Lost $500M Stash
Bitcoin News

Bitcoin Treasure Hunt: James Howells Takes Legal Action Over Lost $500M Stash

October 14, 2024
Ripple Custody Growth
Altcoin News

Ripple Custody Unveils New Features to Boost Growth

October 10, 2024
Speculation on Peter Todd as Satoshi
Bitcoin News

HBO Documentary Fuels Speculation on Bitcoin’s Creator: Peter Todd Responds

October 10, 2024
Next Post
Meme Coins on the Rise: Inside the $2.4 Million Profit of a Crypto Trader

Meme Coins on the Rise: Inside the $2.4 Million Profit of a Crypto Trader

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    241 shares
    Share 96 Tweet 60
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    197 shares
    Share 79 Tweet 49
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    197 shares
    Share 79 Tweet 49
  • OKB Price Prediction 2023 – 2030: Will OKB reach $200?

    202 shares
    Share 81 Tweet 51
  • Dogecoin Price Forecast: When Will the Much-Awaited DOGE Bull Run Begin?

    194 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.