- Vow loses $1.2 million to vulnerabilities in contract
- iVest DAO: Greater than $172k swallowed by smart contract hack
- WazirX Hack: Key Updates
The cryptocurrency world faced several significant hack attacks over the past week. From Vow's $1.2 million contract loss to the major WazirX incident, the industry remains at the forefront of security concerns.
Vow loses $1.2 million to vulnerabilities in contract
On August 12, 2024, the Vow platform suffered a significant setback when an adversary exploited a vulnerability in its smart contract, resulting in a loss of approximately $1.2 million. This event once again highlighted the risks associated with contract flaws in projects raising substantial funds.
iVest DAO: Greater than $172k swallowed by smart contract hack
Another popular project, iVest DAO, reported an attack this week. Due to a flaw in the smart contract, the perpetrator was able to embezzle approximately $172,000.
WazirX Hack: Key Updates
The centralized exchange WazirX, which recently experienced a devastating hack involving the theft of $230 million, provided important updates: - **Asset Migration:** WazirX announced the transfer of the remaining crypto funds to new multi-signature wallets from Liminal as an added precaution. - **Restoration Efforts:** After regular maintenance, WazirX restored balances and reversed all trades affected following the suspension of withdrawals on July 18, 2024, to rectify inconsistencies and prevent fraud cases.
As the complexity of attacks increases, the cryptocurrency industry must prioritize security to safeguard digital assets and maintain trust within the community.
Comments