Crypto Guides, Knowledge & Insights

Justin Sun Wallet Withdrawal $37.7M ETH Stash from Lido

Justin Sun wallet withdrawal $37.7M ETH from the decentralized finance (DeFi) platform Lido.　　Approximately 23,000 ETH, valued at around $37.7 million, was removed from the platform. This eyebrow-raising Justin Sun wallet withdrawal has raised several questions in the crypto community.　　The withdrawal occurred just one day ago when the aforementioned address pulled nearly 20,000 ETH out of Lido. However, the intrigue doesnt end there. Following the Justin Sun wallet withdrawal, the funds were swiftly deposited into the popular cryptocurrency exchange, Binance.　　The crypto world is buzzing with speculation and curiosity surrounding this substantial transaction. Justin Sun, known for his active presence in the crypto space, has not yet commented on the withdrawal, leaving many to wonder about the motives behind this sizable move.DeFi‘s Response to Justin Sun’s ETH Move　　Lido, which allows users to stake their ETH tokens to earn rewards, has become a prominent player in the DeFi ecosystem. Transactions of this magnitude have the potential to impact the DeFi market and trigger a ripple effect across the broader crypto landscape.　　Investors and enthusiasts are closely monitoring the situation, awaiting further details and insights into the motive behind the Justin Sun wallet withdrawal and its potential implications. While Justin Suns involvement adds a layer

2023-10-08Deep Dive

HTX Offers White Hat Bounty of 250 ETH Worth $410,000 to the Attacker

According to ZachXBTs monitoring, Huobi (HTX) has sent a white-hat bounty of 250 ETH, valued at $410,000, to the attacker who stole 5,000 ETH. In the transaction, a message was included: Youve made the right decision. Please submit a security vulnerability analysis report via email so we can prevent similar incidents in the future. Your privacy will be protected.　　As per previous reports, approximately two weeks ago, a specific EOA address received 5,000 ETH from HTX, resulting in losses of approximately $7.9 million.　　HTX had left a message on-chain addressed to the hacker, stating: “We have confirmed your true identity. Please return the funds to 0x18709E89BD403F470088aBDAcEbE86CC60dda12e. We will offer you a 5% white-hat bonus.”　　

2023-10-08Deep Dive

The CoinEx hacker has begun transferring the stolen assets on the BNB Chain

According to earlier reports, CoinEx exchange suffered a theft due to private key leakage on September 12th, resulting in the loss of tokens valued at over $70 million. The exchange stated that the stolen assets were only a small portion of its total managed assets, and affected users would receive full compensation.　　CertiK posted on the X platform that the CoinEx attacker (0xc84) has transferred an additional 14,900 BNB (approximately $3.1 million) to an EOA address (0xCb8). Its reported that these funds were subsequently sent to different wallets through the EOA address (0x4cf) in small amounts.　　In previous reports, blockchain analysis company Match Systems has been in contact with an individual believed to be involved in cryptocurrency money laundering. This individual is reportedly selling tokens related to the recent CoinEx and Stake security incidents at a discounted price and is offering buyers a 3% discount.　　

2023-10-08Deep Dive

Social Protocol Stars Arena Hacked for Approximately $2.9 Million, to Resume After Audit

Stars Arena is a SocialFi protocol built on the AVAX-C chain, designed as an emulation of the recent trending SocialFi project, Friend.tech, with some differences in details. At one point, Stars Arenas daily income even surpassed that of Friend.tech, reaching a peak TVL of $2.9 million.　　On October 7th, Stars Arena posted a message on the X platform stating: Critical security vulnerability detected in the smart contract, please refrain from depositing any funds.　　According to statistics from PeckShield, Stars Arena suffered a loss of approximately $2.9 million, with all assets being in the form of AVAX.　　The latest official update from Stars Arena states that they have secured resources to compensate for the losses incurred due to the breach. A specialized white-hat team will be involved in reviewing platform security, and following a comprehensive audit, the contract will be restarted. It is expected to be completed within a few hours.　　

2023-10-08Deep Dive

iToken Wallet Scandal: 273k USDT Vanishes, Chinese Police Launch Investigation!

iToken wallet scandal that has sent shockwaves through the cryptocurrency community, users of the iToken wallet (formerly known as Huobi Wallet) reported the theft of a substantial sum on October 3rd.　　An alarming 273,000 USDT (Tether) was mysteriously siphoned from their digital wallets, leaving many crypto enthusiasts and investors in distress.$273k USDT Stolen from iToken Wallet Users　　What makes this iToken wallet scandal even more perplexing is the intricate and nefarious nature of the theft. The stolen funds have not remained static but have been cleverly divided and transferred multiple times, making it increasingly challenging to trace their whereabouts. This sophisticated maneuvering has left victims and authorities grappling with the task of identifying the culprits responsible for this sizable heist.　　Adding to the intrigue is the backdrop of previous incidents involving Huobi. Chinese law enforcement agencies have previously arrested internal employees of Huobi for their alleged involvement in setting up Trojans—malicious software designed to infiltrate users systems and steal mnemonic phrases and private keys. These illicit activities compromised the security and privacy of users, eroding trust in the platform.　　The recent theft from iToken wallet scandal users raises serious questions about the security and integrity of cryptocurrency storage solutions, especially those affiliated with major

2023-10-08Deep Dive

Users Sound Alarm On Asset Theft after Galxe Protocol Issues

Galxe Protocol Faces Security Breach　　The situation came to light when the Galxe protocol issued an urgent warning to its community regarding potential security issues through its official communication channels, including X (formerly Twitter).　　The protocol acknowledged that the Galxe website was temporarily down and assured users they were actively working to resolve the issue.　　In a subsequent update, the Galxe protocol disclosed that a security breach had been detected, specifically affecting the Domain Name System (DNS) record for the protocols website through their Dynadot account, a domain registrar.　　Disturbingly, reports have emerged of users falling victim to the security breach, with some claiming the loss of substantial asset values. One user, in particular, has alleged a $100,000 theft due to the incident, highlighting the severity of the breach.Users Urged To Safeguard Assets　　In response to the security breach, the Galxe protocol has issued the following instructions to its users:　　Dont connect wallets: Users are strongly advised against connecting their wallets to the Galxe platform until the security concerns have been fully addressed and resolved.　　Do not sign any transaction: Users should refrain from authorizing or signing any transactions using their wallets on the Galxe platform during this period of heightened security risk.　　Disconnect wallets: As an additional

2023-10-08Deep Dive

CertiK: 184 Security Incidents Occurred in Q3, Resulting in Nearly $700 Million in Losses.

According to a report by blockchain security company CertiK, the third quarter of this year witnessed a total of 184 security incidents, resulting in losses of nearly $700 million in cryptocurrency assets. This figure surpasses the $320 million of the first quarter and the $313 million of the second quarter, making it the “most financially damaging” quarter of the year.　　Among various attack types, private key leaks proved to be the most destructive, causing losses in 14 security incidents totaling over $204 million. Additionally, exit scams and oracle manipulations were prevalent during this quarter. There were a total of 93 exit scam incidents, resulting in losses of over $55 million in digital assets, while there were 38 oracle manipulation incidents causing losses exceeding $16 million in cryptocurrencies.　　

2023-10-07Deep Dive

Galxe Hack Witnesses $200,000 In Losses

In the latest developments surrounding the Galxe hack, users continue to receive updates as the extent of the damage becomes clearer. Losses have now soared to an estimated $200,000.Galxe Hack: Losses Mounting as Website Remains Offline　　According to a statement from Galxe, the website is currently offline and will be restored once the correct Domain Name System (DNS) records are disseminated worldwide.　　Users are urged to be cautious and refrain from approving any transactions linked to their wallets with the Galxe hack. The good news is that funds and personal information are secure for those who havent authorized any transactions during this time frame.Security Measures and Recovery Plan in Progress　　Galxe relied on Dynadots domain registration service, and it was revealed that the domain http://Galxe.com was previously compromised, with an unauthorized individual briefly gaining control of the Dynadot account. Galxe regained ownership of the domain on October 6 and cooperated with Dynadot to bolster account security.　　Preliminary assessments indicate that the total loss may be approximately or below $200,000. The Galxe team has taken proactive measures by contacting relevant law enforcement agencies and will soon release a comprehensive report outlining their plan to recover the funds.　　This incident follows an earlier outage of the Galxe

2023-10-07Deep Dive

Alameda Extracted Billions of Customer Funds Through a 'Backdoor' Before FTX's Collapse

According to Decrypts report, FTX co-founder Gary Wang testified in court on Thursday, stating that SBF (Sam Bankman-Fried, also a co-founder) allowed Alameda to withdraw funds without limits. He explained that Alameda had a substantial credit limit, allowing them to execute orders faster on the FTX platform and withdraw funds without any limitations. He mentioned that Alameda was permitted to maintain a negative balance. When FTX collapsed, Alameda had already withdrawn $8 billion from the platform and $650 billion from its credit limit.　　He further added that Alamedas debt situation set it apart from other market makers trading on FTX. Typically, other market makers have credit limits in the range of millions or tens of millions of dollars, rather than hundreds of billions.　　

2023-10-07Deep Dive

Binance Research: Stablecoin Market Shrinks, Account Abstraction Adoption Grows in September

Binance Research has released its latest report, delving into key market dynamics for September. The report covers various themes, including DeFi, Account Abstraction (AA), stablecoins, and Layer 2 protocols (L2). Overall, the report indicates that the crypto market in September remained relatively stable, with the total market capitalization experiencing minimal fluctuations. However, there are still noteworthy developments and activities to consider.　　Firstly, Account Abstraction (AA) is witnessing increasing adoption, with monthly transaction volumes showing a growing trend. Secondly, the market cap of stablecoins continues to decline, reaching a new low since September 2021, standing at $123.8 billion. The adoption of chatbots on platforms like Telegram represents a relatively new trend, offering a user-friendly alternative to DeFi applications, and the market remains competitive in this regard. Lastly, there have been significant shifts in the landscape of the DeFi perpetual contract market. Historically, protocols like dYdX, GMX, and Gains Network were major players, dominating a significant portion of trading activity. ApolloX has emerged as a significant participant after its market share in trading volume increased by over 450% month-on-month.　　

2023-10-07Deep Dive

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