Exploits, hacks, and scams continue to plague the cryptocurrency industry, as evidenced by recent events involving the Multichain Fantom Bridge and the Aptos Network. The Multichain Fantom Bridge was targeted by bad actors who managed to exploit vulnerabilities and steal approximately $126 million in assets. The stolen funds included various cryptocurrencies such as WBTC, USDC, DAI, wETH, and Link.
The breach was initially flagged by the blockchain security and data analytics company Peckshield, which called out Multichain about several suspicious transactions on-chain. In response, Multichain announced on its official Twitter account that the lockup assets on the Multichain MPC address had been moved to an unknown address abnormally. The team is currently investigating the incident and advised users to suspend the use of Multichain services and revoke all contract approvals related to Multichain.
Meanwhile, the Aptos Network, a public blockchain developed by former Facebook employees, also fell victim to malicious actors. Hackers were able to gain access to the official Twitter accounts of both Aptos Network and its CEO, Mo Shaikh. They posted details about a fraudulent airdrop, claiming that users could receive the native currency of the network, APT, for free. The tweet included a phishing link that compromised users’ security.
Aptos Labs swiftly responded to the breach, announcing that the Twitter accounts had been compromised and warning users not to engage with the fraudulent tweet or the provided link. They emphasized that the Aptos blockchain itself remained secure and uncompromised, and that they were working with the Aptos Foundation to secure their Twitter account and keep the community updated.
These incidents serve as a reminder that the cryptocurrency industry still faces significant challenges in terms of cybersecurity. Despite efforts by crypto businesses to enhance security measures and anti-hack protocols, malicious actors continue to find ways to exploit vulnerabilities. It is crucial for individuals and businesses operating in the crypto space to remain vigilant and take necessary precautions to protect their assets and information.
the Multichain Fantom Bridge losing $126 million in assets and the Aptos Network being compromised by an airdrop scam highlight the ongoing threat of exploits, hacks, and scams in the cryptocurrency industry. These incidents demonstrate the importance of robust security measures and user awareness to mitigate the risks associated with digital assets.