Fraudsters Hack Blueberry DeFi Protocol, Users Advised to Withdraw Funds
Fraudsters have successfully hacked the Blueberry DeFi protocol and have advised users to withdraw their funds from the platform. The exploit forced the Blueberry project team to halt their work and investigate the details of the attack.
Users have reported experiencing withdrawal issues through Blueberry, highlighting the need for fixes in the platform’s front-end interface. The developers are working diligently to address these concerns as quickly as possible.
The Blueberry Protocol is a decentralized lending marketplace that enables leveraged lending and borrowing up to 20 times the value of collateral.
Stolen Funds Recovered, Except for Validator Payments
In an update, Blueberry announced that all leaked funds had been transferred to c0ffeebabe.eth and were secure in Blueberry’s multi-sig wallet, with the exception of validator payments. Initially, 457 Ethereum (ETH) amounting to approximately $1.35 million was drained, but a “white hat” individual managed to rescue 366 ETH and return them to the multi-sig wallet.
The Blueberry team assured users that their deposited funds are currently safe and that only three markets were affected by the exploit.
Hackers Target PlayDapp Blockchain Gaming Platform
Prior to this incident, fraudsters also targeted the PlayDapp blockchain gaming platform in February. During the attack, they managed to mine 200 million PLA coins by compromising private keys associated with PlayDapp. This amounted to a loss of $31 million.
However, subsequent updates revealed that the total loss exceeded $290 million, making it one of the largest hacks since 2022. As a response, PlayDapp paused its PLA smart contract and proposed a migration plan to transition to a new PDA token for the network.
Hot Take: Protect Your Crypto Assets from Potential Hacks
These recent incidents highlight the ongoing risks faced by participants in the crypto space. To safeguard your assets and mitigate the potential impact of hacks, consider the following measures:
- Choose reputable platforms: Prioritize platforms with a proven track record of security and a robust security infrastructure.
- Enable two-factor authentication (2FA): Implementing 2FA adds an extra layer of protection to your accounts.
- Use hardware wallets: Consider using hardware wallets to store your cryptocurrencies offline, reducing the risk of online hacks.
- Stay informed: Keep yourself updated on the latest security practices and vulnerabilities in the crypto industry.
By taking these precautions, you can better protect your crypto assets and minimize the chances of falling victim to fraudulent activities.
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