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DeFi lending protocol Abracadabra has lost approximately $13 million via an exploit that appears to be linked to certain collateral tokens.  Crypto security audit firm Peckshield flagged the hack, which drained a total of 6,260 ether (ETH) on the Ethereum layer-two network Arbitrum. The funds have since been bridged back to Ethereum, where they are being held in three addresses.  .@GMX_IO @MIM_Spell related contracts have been hacked for ~6,260 ETH (worth ~$13M) pic.twitter.com/LZzMADWB3n — PeckShield Inc. (@peckshield) March 25, 2025 Read more: Magic Internet Money loses its sparkle as DeFi platform hacked for $6.5M After being tagged in the initial alert, decentralized perps exchange GMX took to X to clarify that its contracts were unaffected by the attack. The team points instead to “Abracadabra/Spell cauldrons” which “allow for borrowing against specific GM liquidity tokens.” While the investigation into the root cause of the hack is ongoing, one of Abra...

Europe’s leading cryptocurrency exchange, WhiteBIT, concludes the year with remarkable achievements. The latest estimates reveal the company’s capitalization has reached $38.9 billion, while the annual trading volume surged to $2.7 trillion — a 200% increase compared to the previous year. These figures encompass all exchange markets (spot and futures), showcasing the company’s rapid growth and the increasing trust of its users. For context, WhiteBIT’s trading volume surpassed major players like Kraken, whose annual trading volume stood at $628 billion. Remarkably, WhiteBIT’s trading volume exceeds the GDP of countries like Italy or Canada and approaches the GDP of France, valued at $3 trillion. According to WhiteBIT Founder and CEO Volodymyr Nosov, this milestone reflects the exchange’s innovative strategies and strategic focus: “Reaching $2.7 trillion is the result of our dedicated teamwork and the trust of our clients. We remain committed to developing cutting-edge techn...

Blockchain technology is playing a pivotal role in the development of the Metaverse, a virtual world where people interact, socialize, and transact in immersive digital environments. By providing decentralized, transparent, and secure infrastructure, blockchain is reshaping how users engage with the Metaverse. One of the key contributions is the concept of ownership . Blockchain enables true ownership of digital assets, such as virtual land, NFTs (Non-Fungible Tokens), and in-game items. These assets are verified and recorded on a blockchain, ensuring that users have control over their digital possessions without relying on a central authority. This creates an economy within the Metaverse, where users can buy, sell, and trade assets securely. Additionally, blockchain facilitates interoperability between different Metaverse platforms. Assets and identities can be transferred across virtual worlds, promoting a seamless and unified user experience. It also supports the creation of decent...

The co-founder of the original memecoin is calling out Gary Gensler after the U.S. Securities and Exchange Commission (SEC) chair said Bitcoin (BTC) is not a security. In a new interview with CNBC, SEC chair Gensler states clearly that BTC is not a security. “As it relates to Bitcoin, my predecessor and I have said that it’s not a security.” Bitcoin’s designation as a “non-security” places regulation of the flagship crypto outside the SEC’s jurisdiction. Responding to the news, Dogecoin (DOGE) creator Billy Markus took to the social media platform X to call out Gensler for not giving DOGE the same classification. “he should say dogecoin isn’t a security also as it is mostly bitcoin code and works exactly the same way” Gensler has yet to respond to the vocal DOGE co-founder. This is not the first time Markus has criticized Gensler’s performance as SEC chair. In December of last year, Markus responded to a Gensler claim ...

Billionaire tips for crypto investment are in high demand, and today we’ll dive right into this topic. The crypto market keeps changing, and that means ups and downs. Many top hedge funds now own at least some Bitcoin, and maybe so should you. This process can be very useful for investors looking to copy the crypto strategy of rich crypto people. Let’s explore how billionaires approach crypto security and investment. Also Read: VeChain (VET) Could Deliver 20% Returns in September Proven Crypto Strategies from Billionaire Investors Bitcoin ETFs Made Easy Billionaires see Bitcoin’s strong past growth. It’s done better than other investments for years. Here are a few of the elements you need to consider about Bitcoin ETFs: Good option for rich investors adding crypto to portfolios. It’s done better than other investments for years. They use it to boost their earnings. No need for complex digital wallets or direct crypto exchanges. Regulators approve these fund...

Blockchain security company CertiK has issued an urgent update to OKX wallet users on iPhone following the discovery of a major security vulnerability in the iOS application. In a post dated Dec. 19 on X, CertiK urgently advised OKX wallet users on iPhones to upgrade their app to the latest version. The security flaw identified in the OKX iOS application posed a risk of compromising sensitive user data and cryptocurrency assets. Attention! We urge users of OKX wallets to update their iOS app to the latest version immediately. Earlier this month, we identified and reported a critical Remote Code Execution (RCE)  vulnerability in the OKX iOS App,  leading to potential compromise of sensitive data and… — CertiK (@CertiK) December 19, 2023 Earlier this month, Certik identified and reported a critical Remote Code Execution (RCE) vulnerability in the OKX iOS App, “leading to potential compromise of sensitive data and crypto assets,” the blockchain security firm added. ...

"My Bitcoin was taken. How?" A Reddit user thought they were following best practices until two days ago when their Bitcoin wallet was completely cleaned out. A Reddit user has become the latest example of why crypto users should be more careful when using wallet generators — after the user lost a few thousand dollars worth of Bitcoin (BTC) from their "secure" paper wallet. On July 24, a Redditor by the name /jdmcnair posted on the r/Bitcoin subreddit, asking for an explanation on how a hacker could have been able to steal over $3,000 worth of Bitcoin from their supposedly secure paper wallet — which was even generated on an offline computer. The Redditor's Bitcoin wallet address shows an outgoing transaction of 0.12 BTC. Source: Blockchain.com “I was doing self-custody, generated my key and printed it on paper on an offline computer, transferred my BTC to this offline wallet, and kept it stored in a safe that only I have the key for,” the user wrote. “I though...

The SEC has started clamping down on crypto influencers, issuing several fines and cease and desist orders in the past few years. The United States Securities and Exchange Commission (SEC) is pursuing crypto influencers who have promoted scam projects and are found to be manipulating the price s of certain tokens via social media. Former SEC chief John Reed Stark took to Twitter to warn crypto influencers to be ready to face prosecution . Attention all crypto promoters who use social media to manipulate the price of crypto-securities: Fail not at your peril. Not only will you eventually get caught, but your prosecution will also be like shooting fish in a barrel. Whether manipulating the price of exchange… pic.twitter.com/AfKROIlR0N — John Reed Stark (@JohnReedStark) May 30, 2023 In his tweet, Stark called out social media crypto influencers who shilled numerous sketchy crypto projects and often helped them manipulate market prices during the bull run. He warned that for a...

The comments from the hosts of lawyers comes as Judge Victor Marreo said that Dapper Labs’ NBA Top Shot Moments NFT may constitute a security. Blockchain Association’s chief legal officer says “it would be absurd ” for a United States court to rule that digital assets on private blockchains are securities , following a federal judge's decision to allow a lawsuit against Dapper Labs's NBA Top Shots NFTs to play out.  U.S. attorney Jake Chervinsky made the comment after federal judge Victor Marreo denied a motion to dismiss a 2021 lawsuit that accused Dapper Labs of selling nonfungible tokens (NFTs) as unregistered securities. Chervinsky was among a host of lawyers on Twitter to reiterate that the judge’s denial of the motion does not mean a ruling has been made on the lawsuit, only that it was “facially plausible.” “The judge didn't decide anything. He allowed the case to proceed past a motion to dismiss because the securities claims were at least ‘plausible,’ an extremel...

SlowMist found that across 303 recorded blockchain security incidents in 2022, nearly a third were made up of phishing attacks, rug pulls and scams. Blockchain security firm SlowMist has highlighted five common phishing techniques crypto scammers used on victims in 2022, including malicious browser bookmarks, phony sales orders and trojan malware spread on messaging app Discord. It comes after the Security firm recorded a total of 303 Blockchain Security incidents in the year, with 31.6% of these incidents caused by phishing , rug pull or other scams, according to a Jan. 9 SlowMist Blockchain Security report. A pie chart of attack methods in 2022 in percentages Source: SlowMist Malicious browser bookmarks One of the phishing strategies makes use of bookmark managers, a feature in most modern browsers. SlowMist said scammers have been exploiting these to ultimately gain access to a project owner’s Discord account. "By inserting JavaScript code into bookmarks through these phishi...