China News Daily Official TheBitTimes.com

A ‘periphery’ contract of the decentralized finance (DeFi) sector’s biggest lending platform, Aave, was hacked for a total of $56,000 earlier today. Aave, which contains assets worth over $11 billion according to data from DeFiLlama, has made clear that the attack, which began, around 04:30 UTC placed no user funds at risk. Founder Stani Kulechov and governance delegate Marc Zeller both took to X (formerly Twitter) to reassure users. A periphery contract of @AAVE is hacked due to an arbitrary call/logic error. Most user funds are SAFU pic.twitter.com/WXa0w64n0c — Chaofan Shou (@shoucccc) August 28, 2024 Read more: Compound DAO asleep at the wheel as $25M governance ‘attack’ passes Fuzzland’s Chaofan Shou identified the cause of the hack, pointing to transactions on four networks: Ethereum, Aribtrum, Polygon, and Optimism. He estimated the total funds at risk to be around $70,000 . According to Analysis by security firm QuillAudits, the losses to attacks on the above net...

Startling statistics reveal that the numbers have surged at an astonishing rate, surpassing twice the figures documented in the initial half of 2022 and witnessing an astronomical 1,800% surge compared to the corresponding period in 2020, as reported by Dunamu. Upbit, a South Korean cryptocurrency exchange, has fallen victim to hacking attempts on over 159,000 instances during the first half of 2023, according to its operating entity. These staggering statistics were disclosed by Dunamu, the entity that holds the reins of Upbit, and subsequently relayed to South Korean Representative Park Seong-jung of the People Power Party, as disclosed in a report by the South Korea-based Yonhap News Agency dated October 9. Remarkably, this report highlights a remarkable 117% upswing from the statistics in the first half of 2022 and an astonishing 1,800% spike when compared to the same period in 2020. Upbit stands tall as one of South Korea’s foremost CRYPTOCURRENCY exchange s, boasting a...