It’s ten years since the first official cyber-terrorist attack of a crypto exchange, and despite technological advances, most cryptocurrency entities have not yet been able to develop sufficiently reliable security systems to minimize security breaches on their platforms. Cyber-terrorists are taking more advantage of security gaps every year. Beyond security breaches, there are various types of fraudulent schemes that have provided a way for bad actors to gain value from unsuspecting victims, such as exit scams and Ponzi schemes. Crystal has compiled a full and detailed report of all security breaches, fraudulent activity,...
On Thursday, November 12th, the DeFi platform Akropolis–which allows users to earn interest on deposits as well as borrow–was the victim of an exploit that resulted in roughly $2 million in stolen funds. The attacker, who has not been identified yet, was able to exploit Akropolis by taking out flash loans and making use of a flaw within the Akropolis smart contract. The attacker was able to make off with roughly $2 million worth of the stablecoin DAI by draining Akropolis’s YCurve and sUSD pools. The stolen funds are...
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