- Indodax Exchange Hacked for $22 Million
- Caterpillar Coin Flash Loan Attack
- Apple YouTube Channel Hacked in Crypto Scam
Cryptocurrencies have become an integral part of digital finance, and in the last week, various security threats have been reported on major platforms.
Indodax Exchange Hacked for $22 Million
Hackers stole $22 million worth of crypto assets from Indonesia's largest digital asset exchange, Indodax. The hack was identified by Web3 security firm Cyver, which found that the stolen tokens were promptly exchanged for native tokens on various chains. The hackers currently hold large quantities of ETH, MATIC, TRX, and BTC, making this one of the largest hacking incidents in Southeast Asia. The exact cause of the Indodax breach is unknown, but to prevent further misuse of user funds, the trading platform has been temporarily halted, with user funds still considered safe.
Caterpillar Coin Flash Loan Attack
In another incident, Caterpillar Coin was attacked by a flash loan, resulting in the theft of all the token's value, amounting to nearly $1.4 million. The defensive measures, including the token's price protection mechanisms, failed, depleting reserves in record time and causing a 99% price slippage.
Apple YouTube Channel Hacked in Crypto Scam
A less typical yet significant cyberattack involved Apple's YouTube channel, where scammers posted a fake crypto giveaway purportedly from Tim Cook. The video showed a fake stream promising to double users' crypto contributions. The video received over 1 million views before being taken down. This incident once again proves that hackers are finding new ways to exploit weaknesses, using deepfake techniques and timing attacks with major events like the iPhone 16 launch.
Recent incidents highlight the need for increased security measures on cryptocurrency platforms. Cryptocurrency owners are advised to be particularly vigilant and take precautions to protect their assets.
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