Home Cybersecurity Investigating the Recent Crypto Hacking Incidents: Millions of Dollars at Stake

Investigating the Recent Crypto Hacking Incidents: Millions of Dollars at Stake


In the ever-evolving world of crypto, security remains a constant concern. The past 24 hours have witnessed several alarming incidents that have left investors and users on high alert. Let’s dive into the details of these hacking attempts, their consequences, and what we can learn from them.

MultichainOrg Exploitation: Unauthorized Transfers of Over $126M:
One of the most significant incidents involves MultichainOrg, where approximately $126 million worth of assets were transferred illicitly. This breach targeted the Multichain-Fantom bridge, leading to the unauthorized transfer of tokens valued at around $118 million. Notably, $16 million worth of tokens, including DAI, LINK, and USDT, were sent to the address 0x9d57. Additionally, large amounts of USDT and USDC, totaling approximately $27.6 million and $30 million, respectively, were sent to addresses 0x027F and 0xefeef. Moreover, the assailants moved 1,023 wBTC (worth approximately $30.9 million) to address 0x622e5 and 7,214 wETH (equivalent to $13.6 million) to address 0x418e.

Moonriver Bridge Affected: $7.5 Million Worth of Cryptos Transferred:
In another concerning incident, the Multichain-Moonriver bridge saw a breach resulting in the transfer of approximately $7.5 million worth of cryptocurrencies. These funds were moved to the address 0x48Be, and it is currently unclear whether they will be recovered.

Exploiter Address Burn: A Small Relief:
Amidst these troubling incidents, a ray of hope emerged when approximately 1.3 million ICE tokens (worth around $1.85 million) held in the exploiter address (0x9d57…2b68) were burned. This action likely aimed to undermine the attacker’s accumulated gains.

Phishing Attacks and Fake Airdrops: Beware of Scammers:
Hacking attempts in the crypto sphere are not limited to direct exploits. Users must also be cautious of phishing attacks and fake airdrops promoted on social media platforms like Twitter. Two fake airdrops, one related to ApeCoin and the other to Lido, have been circulating. These fraudulent promotions direct users to deceptive websites that link to known wallet drainer addresses. It is crucial for users to exercise caution and verify the legitimacy of any airdrop or project before interacting with such platforms.

Staying Vigilant in the Crypto Space:
The past 24 hours have exemplified the ever-present risks within the crypto world. The exploitation of MultichainOrg and the subsequent unauthorized transfers highlight the importance of robust security measures and constant vigilance. It is vital for users to double-check the authenticity of airdrops and resist the temptation to engage with suspicious links. As the crypto landscape continues to grow and evolve, staying informed and adopting best practices in security will be paramount in protecting oneself and the broader crypto community.

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