Recent findings show that in May 2023, approximately $140.1 million was lost due to crypto fraud and hacking attacks, raising concerns in the crypto community.
Attack on Binance Smart Chain
CertiK reported a major exploit on the Binance Smart Chain (BSC), resulting in nearly $2 million being stolen through a vulnerability in the smart contract function printMoney().
Scheme of Fund Theft
A known attacker operating from address 0xd5c6f3...122c repeatedly triggered the printMoney() function on their authorized attack contract. Unauthorized access occurred due to the compromise of a victim contract linked to address 0xb5cb0. CertiK suspects the victim contract deployer's private key may have been phished.
Security Tips from CertiK
The cryptocurrency community is once again urged to stay alert. Large losses from hackers have already accumulated this year, with Coinbase losing $400 million and others also suffering significant losses. CertiK advises checking contracts for security, using well-audited code, and avoiding hasty transactions.
The situation regarding cryptocurrency security remains critical. Experts emphasize the importance of contract verification and user vigilance.
