Its co-founder said the company's treasury isn't big enough to cover the losses and it is working on a 'concrete plan' for compensation.
The group has reportedly helped freeze over $250 million in criminal assets less than a year after launch.
TRM Labs says 'Embargo' has handled $34.2 million in crypto payouts from ransomware attacks since April 2024, hitting U.S. healthcare and manufacturing.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Decentralized lender Credix lost about $4.5 million after an attacker took control of an admin wallet and exploited bridge privileges.
The alleged heist would mark the second-largest Bitcoin theft in history in BTC terms, and the highest in dollar value at the time.
PeckShield estimates that losses from crypto hacks reached $142 million in July, marking a 27.2% increase from the previous month.
The centralized exchange said it is tracking the funds alongside external security firms and will make customers whole.
Chainalysis says rising wallet attacks and costly laundering fees could push losses past $4 billion this year.
Certik said crypto users and decentralized finance (DeFi) protocols lost $302 million to hacks and scammers in May.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The hacker exploited GMX's V1 GLP liquidity pool on Arbitrum this Wednesday, draining over $40 million in various cryptocurrencies.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
While a post-mortem of the attack has yet to occur, the hacker appears to have drained funds out of GMX's GLP liquidity pool.
Tether aims to curb illicit use of its USDT stablecoin as cryptocurrency-related scams and fraud increase.
Resupply said it would burn six million reUSD tokens via its insurance pool as part of its recovery plan from the $10 million exploit.
Resupply was exploited for around $9.5 million by attackers targeting low liquidity markets to manipulate the exchange rate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
As his gambling losses grew, Nieves allegedly stole from accomplices who helped pilfer over $4 million by posing as Coinbase support agents.
The firm said the issue has been contained and no email breach took place, adding that it is researching ways to prevent future abuse.
The perpetrators reportedly forced the young man's partner to hand over a private key to a Ledger hardware wallet and €5,000 in cash.
Hacker group Gonjeshke Darande leaked what is claimed to be source codes of the Iranian crypto trading platform Nobitex.
ZachXBT said the alleged attacker used a vanity address, which contained the words 'IRGC' and 'terrorists.'
President Santiago Peña's social media post also linked to a Bitcoin address and encouraged citizens to "invest."
Liquidity pools have been restored to between 85% and 99% of their original levels.
The exploit was Alex Lab's second major exploit in as many years, and the recovery process from last year's exploit has yet to conclude.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The crypto exchange said the Singapore High Court declined its proposed restructuring plan following a $230 million exploit last year.
The largest attack was the $225 million exploit of the Cetus Protocol.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.