cybersecurity

Loopscale has deep dived on recovering funds that were stolen in an exploit on April 26, with $5.8 million successfully recovered thus far. The settlement agreement The company announced that all user funds have been refunded, a big step in recovering from the hack. As part of the deal, the...

Picture this – you wake up, check your DeFi portfolio and…surprise!…almost six million dollars just disappeared. That's the gut-wrenching reality for users of Loopscale's USDC and SOL vaults after the recent hack. But here's the kicker: Loopscale essentially paid the hacker a $580,000 "whitehat" bounty and gave them immunity from...

Loopscale, a decentralized finance (DeFi) platform, is here to change that. The white hat hacker behind the recent exploit has already reached an agreement to return the stolen funds. The settlement follows Loopscale posting a whitehat bounty for the return of 90% of the stolen assets. The total value of...

Loopscale made a deal with a hacker. They got most of their money back. Sounds like a win, right? Maybe not. This ends up being not a straightforward “good guys win” narrative, but rather a possible Pandora’s Box for the whole DeFi paradigm. Let's unpack the implications, shall we?Is Extortion...

To be sure, this sword cuts both ways. On the one hand, it presents unprecedented opportunities to innovate financially and provide equitable access. On the other hand, it’s an absolute training ground for hackers. By September 2022, DeFi platforms had already lost an estimated US$2.32 billion to these exploits. In...

It’s the Wild West of the digital age, right? Billions go missing each year, gobbled up by rug pulls, phishing attacks and other complex cons. You read the news, you hear the ghost stories, and perhaps even know someone who’s been burned. It feels like a losing battle. Well guess...

Cryptocurrency fraud costs investors billions of dollars each year, but criminals are always improving their techniques. Illegal activities often occur in areas that are prone to hazards. They frequently use higher level laundering tactics, including mixers, to mask the source of their money. Firms such as CNC Intelligence and the...

Term Finance has already recovered well over $1 million. This follows an unfortunate oracle misconfiguration that lost millions on the critical newbie maker’s Treehouse (tETH) market due to ETH troubles. The attack, which reportedly took place on Saturday, led to loss of about $1.6 million worth of ETH at origination....

MetaBlock X is dedicated to giving you the strategic advantage you require to cut through the noise and govern the ever-evolving terrain of the crypto universe. The recent $5.8 million hack of Loopscale is the latest example of critical weaknesses in the decentralized finance ecosystem. This unfortunate event should be...

The world of cryptocurrency, though filled with amazing opportunity, is unfortunately also filled with scammers. Recently, the Chief Information Security Officer (CISO) of Coinbase revealed a staggering statistic: a loss of $300 million due to crypto scams. This revelation serves as a stark reminder of the pervasive threat landscape and...