Thunder Terminal Loses $244,000 in Crypto Due to Hack
A decentralized exchange called Thunder Terminal recently experienced a hack that resulted in the loss of approximately $244,000 worth of cryptocurrency. The hackers gained access to a MongoDB connection URL, allowing them to execute unauthorized withdrawals on behalf of users. Thunder Terminal assured its users that their funds would be refunded.
Hackers Accuse Thunder Terminal of Lying
Initially, Thunder Terminal claimed that the hack occurred due to a compromise in a third-party service and stated that the funds were safe. However, they later released a detailed incident report explaining that a malicious actor had obtained the MongoDB connection URL. The hackers dispute Thunder Terminal’s claims and have demanded a ransom of 50 ETH in exchange for not exposing user data.
Increase in Crypto Hacks
This incident is just one example of the growing trend of hackers targeting crypto projects. Projects with significant total value locked (TVL) are particularly vulnerable to these attacks. Telcoin, another DeFi project, lost $1.3 million to hackers earlier this week. In 2021 alone, over $1.7 billion has been stolen by bad actors.
Law Enforcement Agencies Crack Down on Crypto Crimes
Despite the rise in crypto-related crimes, law enforcement agencies worldwide are stepping up their efforts to combat these illicit activities. They are receiving training and equipping themselves with the necessary tools to investigate on-chain crimes effectively.
Hot Take: Protecting Your Crypto Assets is Essential
The recent hack on Thunder Terminal serves as a reminder of the importance of securing your crypto assets. It highlights the need for robust security measures and constant vigilance in the crypto space. As an investor or user, it is crucial to stay informed about potential risks and take necessary precautions to protect your funds.
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