Hackers stole up to $30 million in the Crypto.com hack associated with 2FA bypass, forcing the exchange to refund the victims and migrate to a new 2FA infrastructure.
DeFi platform Qubit finance lost $80 million after hackers leveraged a logical flow to deposit 0 ETH to withdraw 206,809 Binance coins. Platform implored the hackers to return the funds or transform the exploit into a bug bounty.
Just one month into the new year, the Wormhole network breach is already the second major incident involving a DeFi project following the attack on the Qubit Finance network.
Cryptocurrency is increasingly being added to businesses' balance sheets because it helps to reach new customers, and it provides a way to avoid many fees. As with any financial asset, the question of how to secure it is moving to the forefront of the CFO’s mind.
The FTX recovery team says that it has recovered about $5 billion at this point, but that a significant portion of the remaining shortfall is due to almost half a billion in stolen crypto.
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