• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cyber Threats Targeting Ethereum as Prices Soar

user avatar

by Giorgi Kostiuk

2 hours ago


The recent increase in Ethereum's price to $4,780 has attracted the attention of cybercriminals looking to profit from stolen assets. Analytics data indicates that at least three significant cyber intrusions have been documented, raising questions about security in the crypto world.

How Did the Attacks Unfold?

In October, Radiant Capital's protocol was attacked, leading to a loss of about $53 million. This attack is attributed to a group linked to North Korea that successfully converted a large share of stolen assets into 21,957 ETH. Following a recent liquidation, they secured $44 million in stable cryptocurrencies from 9,631 ETH.

Radiant Capital has raised alarms regarding the severe implications of this breach.

The attackers retain 12,326 ETH and a mix of stable cryptocurrencies collectively valued at approximately $48.3 million, indicating the ongoing menace of cyber threats.

Who Was Behind the March Attacks?

In March, the platforms THORChain and Chainflip were attacked by unidentified intruders who stole 17,412 ETH. They subsequently converted the loot into stable cryptocurrencies worth $33.9 million. Later, the attackers reentered the market and executed a transaction involving 4,957 ETH in June, yielding a profit margin of $9.76 million.

The extensive nature of these exploits over the last 18 months could result in losses hitting billions by 2024 and early 2025.

Required Security Measures

Security professionals warn that both users and crypto platforms need to adopt more robust protection strategies. While increases in ETH values result in higher gains for perpetrators, they also enable tracking of these illicit activities. However, converting and moving assets adds layers of complexity to identifying malicious actors.

Recent attacks highlight vulnerabilities in DeFi platforms.

Collaboration among authorities is crucial to enhancing security.

The need for tighter security protocols and heightened awareness among investors remains urgent. Authorities and stakeholders must join forces to safeguard investor assets and maintain market integrity.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Solana Updates: Unilabs Finance and SOL Price Growth Opportunities

chest

Overview of the latest Solana news, including SOL price growth and Unilabs Finance potential in 2025.

user avatarGiorgi Kostiuk

Cloud Mining in 2025: Top 5 Platforms for Effective Earnings

chest

In 2025, five cloud mining platforms dominate the market, supported by strategic partnerships and government initiatives.

user avatarGiorgi Kostiuk

RBI Introduces Blockchain to Enhance MSME Financing

chest

RBI has approved a blockchain platform to improve MSME credit access through tokenized invoices.

user avatarGiorgi Kostiuk

PEPETO: Overview of a New Player in Cryptocurrency

chest

PEPETO ($PEPETO) is gaining investor attention for its unique blend of meme culture and real products.

user avatarGiorgi Kostiuk

Institutional Inflows into Solana: Factors Behind Potential $250 Target

chest

Institutional investments in Solana ETF heighten interest in the asset, potentially driving its value towards $250.

user avatarGiorgi Kostiuk

Breet Invoicing: A New Tool for Simplifying Crypto Payments

chest

The launch of Breet Invoicing transforms the approach to crypto payments for businesses, offering quick and convenient invoicing solutions.

user avatarGiorgi Kostiuk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.