News
22 minus ago – Around 2 mins mins to read
Key Points:
- Last week’s estimated loss in the crypto and DeFi landscape exceeded $168 million.
- Key incidents included Kyber Network’s liquidity exploit, HTX Protocol breach, and Kronos Research API key compromise.
According to SlowMist, Cybersecurity breach surged to $168 Million over the last 7 days. Key incidents include Kyber Network’s liquidity exploit, HTX Protocol breach, Kronos Research API key compromise, and series of rug pulls on BSC & ETH networks.
In the SlowMist Weekly Security Report for November 19 to November 25, 2023, several significant cybersecurity incidents were highlighted, emphasizing the need for increased vigilance. The total estimated loss for the week exceeded $168 million.
One of the key incidents involved Kyber Network’s Liquidity Exploit, which resulted in a loss of approximately $54.7 million due to a flaw in liquidity calculation within KyberSwap Elastic.
Another notable breach was the HTX Protocol Breach, where a critical private key leakage led to a substantial loss of $113.3 million.
🔔 SlowMist Weekly Security Report (Nov 19-Nov 25, 2023)
Total Estimated Loss Last Week: Exceeding $168 Million 🤮
It’s that time of the week again. As we navigate the dynamic landscape of crypto and DeFi, we’re reminded of the crucial lessons from past security events. Each…
— SlowMist (@SlowMist_Team) November 27, 2023
Week of chaos: Cybersecurity Breach Surge Massively
Additionally, unauthorized access to Kronos Research API resulted in a $26 million loss. The report also mentioned a series of rug pulls on the BSC and ETH networks, involving multiple incidents of liquidity withdrawal by deployers, causing total price collapses in various tokens.
To prevent such breaches, SlowMist recommended enhanced monitoring for unusual protocol activities, thorough review of liquidity providers and smart contract codes, strengthened security practices for private key management, and educative resources for identifying and mitigating risks of rug pulls.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/232146-cybersecurity-breach-surges-168m-losses/