Home Cybersecurity Investigative Report: A Day of Cryptocurrency Hacks, Exit Scams, and Phishing Attacks

Investigative Report: A Day of Cryptocurrency Hacks, Exit Scams, and Phishing Attacks


In the ever-evolving world of cryptocurrency, security is a top concern. However, hackers and scammers continue to devise new ways to exploit vulnerabilities and carry out fraudulent activities. In this investigative report, we will delve into the latest 24-hour hacking news, revealing incidents involving Justin Sun, YugaLabs, BabyShiaToken, Genswap_dex, and a phishing attack on the Finance_Ref Discord server.

PeckShield: Justin Sun and the Mysterious Stablecoin Swap
PeckShield alerts ring alarm bells as they discover a significant transaction involving Justin Sun. Approximately 840,000 stablecoins, including 340,000 TUSD and 500,000 USDT, were swapped for around 840,000 USDC. The question arises: what led to this swap? Furthermore, it appears that a portion of the USDC was sent to Huobi Deposit, while another portion, along with 61 ETH, was transferred to Poloniex. The motives behind these transactions remain shrouded in mystery, leaving us to speculate on their implications.

The Bored Ape Gazette: Questionable Transactions by YugaLabs
Recent reports by The Bored Ape Gazette indicate a transfer of 2,000 Otherdeeds by YugaLabs to a new address, 0xCd56, which now holds a significant amount of $APE tokens, worth approximately $8.82 million. The origins of these tokens can be traced back to The Otherside’s OTHR Token-labeled address, which transferred 16.78 million $APE tokens nearly 481 days ago. What prompted YugaLabs to make this transfer, and what does it mean for the future of this digital asset?

CertiK: BabyShiaToken and the Exit Scam
CertiK Skynet alerts bring to light an exit scam surrounding BabyShiaToken. The deployer of the token, with the address 0xCbcd8, profited a staggering 133 ETH, equivalent to approximately $226,000. This unfortunate incident highlights the need for stricter security measures and regulations within the cryptocurrency space to protect investors from such scams. It also raises questions about the current state of token deployment auditing and reinforces the importance of due diligence.

CertiK: Genswap_dex and the Drained LP Pair
The CertiK Skynet team has identified a troubling incident involving the LP pair for Genswap_dex on Uniswap. A privileged address, 0x65719edaA37Fd5654a730606A9Fead02b8B631b7, drained around 65,000 ETH. This devious act was carried out by the marketing address of the GEN token, leveraging an underflow vulnerability to inflate their balance before dumping the tokens. Such exploits emphasize the need for thorough and continuous code audits to identify and patch potential vulnerabilities.

CertiK: Phishing Attack on the Finance_Ref Discord Server
It appears that even the most trusted platforms are not immune to phishing attacks. CertiK Skynet alerts call our attention to a phishing link posted in the announcements channel of the Finance_Ref Discord server. Users are warned not to interact with hxxps://claim-ref.finance/airdrop/ to protect themselves from potential fraud and loss of funds. This incident highlights the importance of vigilance and verifying the authenticity of any links or requests before engaging with them in the cryptocurrency ecosystem.

The world of cryptocurrency continues to face numerous challenges, with hackers, scammers, and phishing attacks targeting not only individuals but also prominent figures and platforms in the industry. Vigilance and due diligence are vital as we navigate this evolving landscape. By staying informed and adopting best security practices, investors can help protect themselves and contribute to a more secure crypto ecosystem.

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