SlowMist’s Latest Report Reveals Massive Losses in Crypto Security Breaches
The past week has been marked by significant losses in the world of cryptocurrency due to various security incidents. SlowMist, a reputable blockchain security platform, disclosed that over $8.8 million was lost by targeted entities in multiple security breaches. The platform shared detailed information about these events through its official X account.
SlowMist Weekly Security Report
(June 3 – June 9, 2024)
Total Losses: Over $8.8M
Incident Highlights:
1. Loopring: $5M lost due to a security vulnerability in Loopring Smart Wallets. ⚠️
2. Gemholic: $3.4M lost in a rug pull scheme…
SlowMist’s Weekly Crypto Security Report Unveils 5 Major Security Incidents Leading to Huge Losses
In its most recent publication, the security firm unveiled its “Weekly Security Report” covering the period from June 3rd to June 9th. SlowMist highlighted five different exploits that occurred during this timeframe involving Loopring, Gemholic, TLN Protocol, SteamSwap, and NCD. Each of these incidents resulted in substantial financial losses for the affected parties. The breach in Loopring was attributed to a security flaw within the platform that allowed the attacker to siphon off $5 million in assets from the Loopring Smart Wallets.
The second incident involved Gemholic, a project that vanished after absconding with investors’ funds, resulting in a staggering loss of nearly $3.4 million. The third incident targeted TLN Protocol, where an exploiter capitalized on a contract vulnerability to cause losses amounting to approximately $280K on BNBChain.
Moving forward, SlowMist disclosed the breach at SteamSwap, where the attacker took advantage of another contract vulnerability leading to losses of around $105K on BNBChain. The fifth incident focused on NCD, where a contract vulnerability resulted in losses nearing $20K on BNBChain.