Hacks | Crypto Profit Bot

How yield farming on decentralized exchanges can become less risky

July 30, 2021

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The DeFi industry has been gaining momentum since 2020, offering a new perspective on the world of finance and a new way for investors to make money. In its essence, DeFi, also known as Decentralized Finance, is an ecosystem of applications and services built on public blockchains. Yield farming and staking are gaining momentum on […]

Growing pains? DeFi exploits plunder BSC, which calls for reinforcements

June 5, 2021

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Several decentralized finance (DeFi) protocols running on Binance Smart Chain (BSC) have fallen victim to major exploits in recent months as the sector continues to see substantial growth in 2021. Binance’s very own smart contract blockchain platform has seen a surge in demand since its launch in September 2021, due to its low fees and […]

BSC’s Impossible Finance raises $7M for multi-chain DeFi incubator

June 4, 2021

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DeFi protocol Impossible Finance is building a multi-chain incubator to expand out from BSC. 4588 Total views 8 Total shares Impossible Finance, a Defi protocol built on Binance Smart Chain, has completed a $7 million seed funding round backed by over 125 institutional and angel investors — with the funds going towards the development of […]

DeFi hacks on Binance Smart Chain rise as TVL and volumes increase

May 10, 2021

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Binance Smart Chain, or BSC, was launched in September 2020 as a parallel blockchain to Binance Chain. It enabled the creation of smart contracts and a staking mechanism for the native token of both blockchains, Binance Coin (BNB). In its brief nine-month existence, there have been a lot of decentralized finance, or DeFi, projects built […]

Smart contract exploits are more ethical than hacking… or not?

April 18, 2021

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There has been a lot of talk about the recent “hacks” in the decentralized finance realm, particularly in the cases of Harvest FInance and Pickle Finance. That talk is more than necessary, considering hackers stole more than $100 million from DeFi projects in 2020, accounting for 50% of all hacks this year, according to a […]

Default auditing for DeFi projects is a must for growing the industry

March 21, 2021

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The radical opportunity presented by decentralized finance has garnered significant attention from investors and speculators alike. The total value locked in DeFi protocols grew over 2,500% in 2020, from around $700 million in January 2020 to over $20 billion in December 2020. TVL is a more useful metric than market capitalization when it comes to […]

Step by step: How crypto fraud and security breaches are investigated

March 3, 2021

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It’s every exchange’s worst nightmare: Falling victim to a security breach. An incident can disrupt a trading platform’s operations for weeks, affect customer confidence and damage a carefully cultivated reputation — even causing crypto markets to fall in some cases. Crypto companies have been ramping up their security measures in recent years, determined to ensure […]

Creditors of Mt. Gox Bitcoin exchange to vote on draft refund plan

February 25, 2021

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Mt. Gox creditors will vote on a proposed draft compensation plan in October. 2995 Total views 15 Total shares The trustee of hacked, now-defunct cryptocurrency exchange Mt. Gox has posted another update on the long-running process of refunding the exchange clients. Nobuaki Kobayashi, a Tokyo attorney appointed to act as civil rehabilitation trustee to manage […]

10 Arrested Over SIM-Swap Hacks That Stole $100M in Crypto From Celebrities: Europol

February 10, 2021

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The alleged international criminal network targeted online influencers, sports stars, musicians and their families in the U.S. Feb 10, 2021 at 12:35 p.m. UTC 10 Arrested Over SIM-Swap Hacks That Stole $100M in Crypto From Celebrities: Europol Crime-fighting agency Europol says 10 people have been arrested for SIM-swap attacks that stole over $100 million in […]

UN Says North Korea Funded Nuclear Weapons With Crypto Hacks in 2020: Report

February 9, 2021

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U.N. experts estimate that over $316 million in crypto was stolen by North Korea-linked hackers last year. Feb 9, 2021 at 3:19 p.m. UTCUpdated Feb 9, 2021 at 3:33 p.m. UTC UN Says North Korea Funded Nuclear Weapons With Crypto Hacks in 2020: Report Cryptocurrency hacks worth hundreds of millions of dollars were used to […]

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Category: Hacks