Events Under the Spotlight 🔎
OpenSea Discord hacked
OpenSea, a popular marketplace on the Ethereum network, suffered a Discord server compromise.
Here, scam links were posted in the server’s announcement channel announcing a partnership with YouTube and the mint of exclusive NFTs on the platform.
Decentralized Exchange MM.Finance Suffers $2M Exploit
MM Finance, a decentralized exchange on the Cronos network, suffered a DNS attack on its website.
The attacker injected a malicious smart contract into the front-end of the website.
The attacker exploited the DNS vulnerability to modify the router contract address in the escrow file.
Digital assets worth $2M have been stolen.
The team later released an official event postmortem.
Saddle Finance Fell Victim to $10 Million Attack
Saddle Finance, an automated market maker on Ethereum, fell victim to an attack due to the wrong library used to calculate prices in the market maker.
The stablecoin decentralized exchange suffered a $10M loss.
The initial funds to launch the attack were withdrawn from Tornado Cash.
DeFi Lender Rari Capital/Fei Loses $80M in Hack
Multiple pools owned by Fei Protocol on Rari Capital suffered a re-entrancy attack, resulting in a loss of $80M to the platform.
The platform offered the hacker a 10% bounty in exchange for the stolen amount.
NFT launch on Ethereum loses $34 million in faulty smart contract
Akutar NFT, a collection of 15,000 NFTs on Ethereum, mistakenly locked $34 Million into the smart contract due to a coding error in the smart contract.
The creative team has issued refunds and airdrop NFTs to the buyers using a smart contract.
To the Numerophiles out there 🔢
Mercedes reveals a new F1 art rear wing NFT design for Miami.
More From the Editor’s Desk ✍️
$10 Billion was lost in DeFi-related hacks in 2021, and this figure is expected to scale more heights this year.
DeFi involves employing smart contracts to perform transactions without a third party, ‘smart contract audits’ are practices that check for bugs, errors, and security vulnerabilities in the codebase, intending to suggest improvements and ways to fix them.
But if you have rolled your sleeves up to get on the auditing bandwagon, we have come up with our latest article on “Beginners guide to smart contract auditing.”
Word on the Block📦
Hashing
Versus Series🛡️
NFT VS Cryptocurrency
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