Transferred Funds By Hackers Estimated at $4.8 Million
A hacker recently transferred 520,000 MATIC tokens worth over $266,000 and 300 BNB tokens valued at approximately $61,500 to external addresses. This comes after the hacker had already transferred $4.5 million to Bitcoin blockchain addresses. In total, the transferred funds now amount to $4.8 million, which is just 1.2% of the $41 million stolen by the hackers.
The Stake Hackers Exploited Platform Vulnerabilities
The hackers responsible for the theft of $41 million from Stake gained access to the platform’s Binance Smart Chain and Ethereum hot wallets. The United States Federal Bureau of Investigation (FBI) suspects the Lazarus Group from North Korea, known for their involvement in cybercrimes and cryptocurrency-related attacks, to be behind this exploit.
Total Losses from Hacks and Scams Exceed $1 Billion
The recent Stake hack has pushed the cumulative losses from cryptocurrency hacks and scams in 2023 to surpass $1 billion. Before the Stake attack, CertiK reported losses of approximately $997 million by the end of August. Exit scams, flash loan attacks, and exploits resulted in losses of $45 million in the past month alone. Other recent incidents, including phishing attacks and security vulnerabilities, have contributed to the total losses exceeding $1.04 billion.
Hot Take: Cryptocurrency Industry Faces Increasing Threats
The theft of $4.8 million from Stake and the cumulative losses of over $1 billion in the cryptocurrency industry highlight the growing threats faced by investors and platforms. Hackers continue to exploit vulnerabilities, resulting in significant financial losses. Increased security measures and proactive approaches to identifying and addressing these threats are necessary to protect the integrity and trust in the cryptocurrency ecosystem. It is crucial for individuals and platforms to remain vigilant and implement robust security measures to mitigate the risks associated with cryptocurrency transactions and investments.
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