Published on juni 17, 2024, 4:36 pm
Image source: Fox News
```json { "TLDR": "Summary of recent crypto and cybersecurity events: Bittensor user loses $11.2 million in a phishing attack, Microsoft fixes Outlook vulnerability, UwU Lend DeFi platform faces exploitation, deepfake scams and hacking claims indicate persistent security challenges in the cryptocurrency industry." } ```
Crypto-Sec presents a roundup of the latest crypto and cybersecurity events and insights.
In a notable event, a user of the Bittensor (TAO) artificial intelligence platform fell victim to the largest phishing attack reported in June. The attack led to the loss of over 28,000 tokens valued at $11.2 million. The attacker cleverly split the funds across multiple wallets, then consolidated them into fewer accounts before bridging them onto Ethereum using decentralized exchanges.
Phishing attacks in the crypto realm involve scammers creating fake websites that appear legitimate, tricking users into authorizing transactions that end up stealing their assets. Such fraudulent activities remain a prevalent threat in the cryptocurrency space.
Meanwhile, Microsoft recently addressed a vulnerability in Outlook discovered by cybersecurity firm Morphisec. This flaw could have allowed attackers to execute code on users’ devices through malicious emails, potentially leading to data breaches and unauthorized system access.
Furthermore, DeFi platform UwU Lend faced exploitation twice within days, resulting in substantial financial losses. The attacker manipulated an oracle within the protocol, allowing them to drain millions from liquidity pools through altered price data and collateral requirements.
Moreover, incidents like deepfake scams targeting OKX users and hacking claims against Lykke exchange highlight ongoing security challenges within the cryptocurrency industry. As cyber threats evolve, it’s crucial for users and platforms alike to stay vigilant and adopt robust security measures to safeguard digital assets effectively.
Original article posted by Fox News
