Florence Finance Targeted in Address Poisoning Attack
Blockchain security firm PeckShield has reported that Florence Finance fell victim to an attack known as “address poisoning,” resulting in a loss of $1.45 million in USDC. The attack involved the scammer creating a phishing address that closely resembled the intended recipient’s wallet address. By sending a small amount of crypto to the victim’s wallet from the matching address, the attackers were able to poison the transaction history and trick the victim into sending funds to their wallet instead. This type of attack has become increasingly common, with malicious actors exploiting Ethereum’s ‘Create2’ function to bypass security alerts and steal millions from unsuspecting users.
Rise in DeFi Exploits
November has seen a surge in DeFi and crypto hacks. In addition to the attack on Florence Finance, PeckShield also reported that the Uranium Finance attacker was moving funds. The De.Fi Yield Rekt Database reveals that millions of dollars have been lost this month due to hacks and exploits, including KyberSwap losing $45 million, HTX losing $21 million, Heco Bridge being exploited for $86 million, and Onyx Protocol losing $2 million. These incidents highlight the need for increased security measures and vigilance within the DeFi space.
Hot Take: Protecting Your Crypto Assets
The recent attacks on Florence Finance and other DeFi platforms serve as a reminder of the importance of protecting your crypto assets. To safeguard your funds, it is crucial to double-check wallet addresses before making any transactions. Be wary of phishing attempts and suspicious links or messages that may lead you to fake websites or wallets. Additionally, consider using hardware wallets or cold storage solutions for enhanced security. Stay informed about the latest security practices and developments in the crypto industry to stay one step ahead of potential threats. Remember, the responsibility for securing your crypto assets ultimately lies with you.
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