A serious hack occurred at Pump Science, a Solana-based decentralized science (DeSci) platform. As a result of the hack, hackers created fake tokens in altcoin projects called URO and RIF. On the other hand, a security warning came about the SUI-based Oceans Gallerie. Here are the details…
Pump Science attackers produced fake altcoin
Solana-based decentralized science (DeSci) launch platform Pump Science reported the incident, which occurred due to the negligence of the developer. According to the statements, the private key of the wallet was leaked. The wallet was T5j2U…jb8sc. This wallet, which produces URO and RIF tokens, was hacked and allowed an attacker to produce fake altcoin as desired. Pump Science declared all tokens produced through this wallet as fake. The team advised users not to interact with the fake profile and announced that none of these new tokens were created by their team. Measures to control this and the disaster are ongoing. Following the developments, RIF lost more than 20 percent of its value. URO also lost 20% of its value.
A warning has been issued for OceansGallerie
On November 27, SlowMist issued a security warning regarding its AI-driven social aggregation platform OceansGallerie, which operates on the SUI network, according to BlockBeats. The platform is currently considered to be at high risk and is suspected of a potential rug pull. Users are advised to be more careful when interacting with the platform.
Hacks continue in the cryptocurrency space
One of the obstacles to the mainstream adoption of cryptocurrency is hacking. There have been some high-profile thefts on various cryptocurrency exchanges and platforms, thus discouraging investors from using them. While blockchain projects are claimed to be secure, attacks over the years have shown this to be only partially true. According to blockchain analytics firm Chainalysis, over $1.7 billion worth of cryptocurrencies were stolen in 2023. This was up from $3.8 billion in 2022.
The largest cryptocurrency hack to date occurred in March 2022 and targeted the network supporting the popular Axie Infinity blockchain gaming platform. The hackers breached the Ronin Network, stealing approximately $625 million worth of Ether and USDC (a stablecoin). Investigators said the Lazarus Group, a North Korean state-backed hacking collective, was linked to the theft. Sky Mavis (the developer of Axie Infinity) recovered $5.7 million of the stolen funds a month later, but it remains the largest cryptocurrency hack in history.
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