Fortress Protocol Breached, Loses $3 Million

In the latest hours of May 8th, DeFi lending protocol Fortress Network got hit with a manipulation attack that drained most of its funds. According to the protocol's release, the stolen assets included 1,048.1 in Ethereum and 400,000 in stablecoin DAI.   Although the theft surfaced this month, there are strong suggestions the process began much earlier. In fact, 19 days before the announcement went public. Fortress Network confirmed the attack in a tweet soon after it happened. A cry for…

Stolen ETH From $600M Ronin Bridge Hack Are On The Move

It’s been over ten days since Ronin Bridge fell victim to the largest Defi hack in history. Today, the lost ETH from the hack has started leaking out of the suspected thief’s wallet. Covering HIs Tracks According to on-chain data from Etherscan, the exploiter's addresses conducted multiple transactions between themselves earlier today. In two batches, the hacker's original address sent 2000 ETH to a new address flagged “Ronin Bridge Exploiter 8”. The new address subsequently sent 20 batches of 100…

REKT: $326M Hacked From Popular Ethereum-Solana Bridge

Yet another multi-million dollar hack has impacted the crypto ecosystem. This time, it's against Wormhole – a famous cross-chain bridge to bring non-native cryptocurrencies to other blockchain networks. Over $300 million worth of wETH were unfairly generated through a protocol exploit. This comes a month after Vitalik warned the crypto-community of the security flaws inherent with cross-chain protocols and intermediaries. Hours ago, Wormhole warned the community of a potential protocol to exploit over Twitter. The team put the network under…

Avalanche Blockchain’s Zabu Finance Loses $3.2 Million after Facing a Pool Hack 

On September 12, industrial outlet DeFiPrime revealed Zabu Finance faced a hack. The hacker successfully stole 4.5 billion tokens from a Zabu Farm Contract amounting to $3.2 million. The transfer of such a large number of tokens eventually caused the price of Zabu tokens down to $0. Zabu Token has also gone ahead to confirm the hack on Twitter. Moreover, the platform asked for help from other known decentralized exchanges hosted on Avalanche, such as Pangolin and Trader Joe. How…

WMA: Bitcoin Continues Its Decline While The Altcoins Soar

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $950 billion. Bitcoin lost nearly 7% over the week to trade at around $32,000. Ethereum gained almost 10% in value to trade above $1,300. XRP and Polkadot settle on their previous gains while trading in the green. The DeFi sector adds more than $2 billion to the total value of locked protocols. Crypto Trends…

Hacker Steals Cryptocurrencies Worth $500k From a DeFi App

The DeFi space of Ethereum has gone parabolic over the past few weeks. Cryptocurrencies locked in DeFi applications are now worth $1.65 billion, representing a 65 percent increase from the value on June 17. At the same time, there is an upsurge in the number of people using applications such as Compound, Maker, and Synthetix. However, the growth of decentralized finance may be temporarily slowed down by an alleged hack that took place some hours ago. On June 28, reports had…