This Week's Crypto Hack News Demonstrates the Weaknesses Present in the Sector

Cryptocurrencies are extraordinarily dynamic industries in which even minor mistakes can have extremely negative results. This week's crypto hack news brings

Three Important Crypto Hacks This Week

Cryptocurrencies are highly dynamic industries where even the smallest mistakes can lead to devastating consequences. This week, we've seen three significant crypto hack news stories that highlight the vulnerabilities present in the sector.

1. Whale Loses $36M in Phishing Scam, Causing dETH to Plummet

A recent phishing email scam has resulted in a whale losing 15,079 fwDETH, valued at approximately $36 million, according to a report by Footprint Analytics.

The victim reportedly attached a poisonous signature to the email, leading to the theft of the tokens. Subsequently, the stolen dETH tokens were swiftly transferred out of the victim's account.

This incident had a direct impact on the dETH market, causing a sharp decline in the token's price. dETH, which is usually pegged 1:1 with ETH, experienced a drop of over 90%, reaching a low of 0,06 ETH before recovering to around 0,27 ETH.

2. $6M Stolen in EIGEN Phishing Scam; No Protocol Flaw, Claims EIGEN Layer

An investor fell victim to a phishing attack, resulting in the theft of approximately $6 million worth of EIGEN tokens, according to a statement by EIGEN Layer.

The attacker reportedly altered the receipt to a偽造address, facilitating the transfer of the tokens. However, EIGEN Layer asserted that the attack was not rooted in any vulnerability of the platform's on-chain protocol.

The statement further highlighted that the victim's email was the sole compromised account and that the remaining users and protocols remained unaffected.

3. U.S. Authorities Crack Down on Crypto Market Manipulation

The U.S. Deputy Attorney General has announced charges against 18 individuals and crypto firms, including Gotbit Consulting, for fraud and market manipulation, according to a press release by the Department of Justice.

In a joint effort, the FBI, SEC, and Commodity Futures Trading Commission (CFTC) worked together to uncover and apprehend the accused, ultimately seizing $2.4 million in cash and cryptocurrencies.

The agencies utilized a fake token, NexFundAI, to demonstrate the common market manipulative practice of wash trading among the accused. This marks the first time the DOJ has undertaken a criminal investigation into manipulation in the crypto market.

User Caution: Always check the signs and signatures, as there are also fake ones. For links, they must not lead to something criminal to protect our assets. The crypto space has its inherent dangers, but by learning to identify them, you will be able to survive the next scam.

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