CNBC International’s Post

Wrapped Bitcoin Wallet Loses $69,300,000 Worth of Crypto in Apparent Address Poisoning Scam A crypto wallet lost $69.3 million worth of Wrapped Bitcoin (WBTC) in an apparent address-poisoning attack, according to the blockchain security firm CertiK. Address poisoning usually involves a scammer sending a wallet a tiny amount of crypto via an address that’s designed to look similar to the wallet’s, according to an explanation provided by Ledger, a digital asset wallet provider. The ploy is designed to trick wallet holders into mistakenly copying the scammer’s address from their transaction history and having funds sent to that wallet instead. In this instance, CertiK notes that a scammer mimicked a transfer of 0.05 Ethereum (ETH), which tricked the victim into sending 1,155 WBTC worth $69.3 million to the wrong address.

🚨 A user was tricked into sending $68M in Wrapped Bitcoin (WBTC) to an attacker, who returned just $153K in Ethereum as a 'goodwill' gesture. 🔄 The victim has offered a 10% reward for the return of the remaining funds to avoid legal action. 🔍 The victim and attacker communicated via blockchain, exchanging promises and negotiation terms. The scam involved sophisticated address poisoning, highlighting new vulnerabilities in crypto transactions. 🧐 Despite returning a small fraction, the attacker remains in control, using complex transfers and smart contracts to move the stolen assets. The crypto community watches as this high-stakes negotiation unfolds. Read more at https://bit.ly/3UDzzBu . . . . . . . . . . #CryptoTheft #EthereumNews #BitcoinScandal #CryptoNegotiation #BlockchainSecurity #FraudPrevention #CryptoCrime

Last night around 10:17 PM, I narrowly escaped a potentially devastating loss of $35k worth of BNB. It would have been a gargantuan loss if I wasn’t careful. Here's what happened: I needed to send funds to a friend who copied his wallet address from MetaMask BEP 20 chain. Unfortunately, his computer clipboard had been invaded by a virus called crypto shuffle 😱 Read more about crypto shuffle here: rb.gy/unxps as published by @Cointelegraph The wallet address he copied was completely different from the wallet address sent to me. As a usual practice, whenever I want to transact a huge sum of cryptocurrency, I ensure I send or request a smaller amount first. This is a recommended security check. When I tried sending $1 to the wallet address provided and carefully reviewed the transaction, I discovered that there was a wallet security breach and that saved me from what would have been a fatal accident. Let me also thank Binance and Trust Wallet for the advanced security features deployed on the Trust Wallet application. Remember, it's crucial to stay vigilant and cautious when initiating a cryptocurrency transaction. TIPS: 📌 Double-check wallet addresses 📌 Use reputable wallets like Trust Wallet 📌 Enable security notifications God will not put us into shame 🙏💝

Dear community, Let's move on to the next tokens #pepe and #shibainu . Before we move to check if they are audited, I would like to discuss about #bitcoin. . Do they need auditing? Fortunately, no. They follow proof of work (PoW) consensus algorithm which is the most secure one and bitcoin is restricted to bitcoin blockchain only. In the case of other tokens, they follow proof of stake (PoS) or another consensus mechanism, which are less secure than PoW but faster and scalable.  So if the tokens are audited, we can have secure, faster and scalable tokens than bitcoin Time to audit check the tokens: 2. #pepe :  From the video it's clear that, they are NOT AUDITED 3. #shibainu : Everybody will be wondering if we have only not audited tokens. But no, #shibainu is AUDITED As I always say, Investors, invest only in audited tokens and secure your investment. Creators, please audit your tokens to avoid Security vulnerabilities, Financial fraud, Regulatory risk and Reputational damage. Share with your network to spread the awareness and secure the community. Also comment the token you want to check next. Have a wonderful day 🙂 #blockchain #scamalert #tokenauditing #auditing #spreadawareness #bitcoin #pepe #shibainu

Let's talk about coins, tokens and pegged tokens/coins. As always we will be using simple terms 1. Coins: Coins are attached to a blockchain eg: BTC - bitcoin blockchain ETH - Ethereum blockchain Coins are secured using security vulnerability tests, Ethical hacking etc 2. Tokens: They are basically smart contracts and numerous tokens can be deployed to one or more blockchain network. Eg: #shibainu - deployed on ethereum #worldcoin - deployed on ethereum They are secured by auditing financially, technically and legally. 3. Pegged tokens/coins: They are digital currency pegged to a country's fiat currency or other commodity. Simply they are the duplicates of any token or coin crossing the bridge to a different network Eg: USDT - digital currency pegged against US dollar ( 1 USDT = 1$ ) XAUt- digital currency pegged against Gold ( 1 XAUt = 1gram of gold ) They are already secured using a fiat currency or a commodity against it's value. 👩💻 Time to audit tokens: 4. CyberConnect : NOT AUDITED 🚨 5. #HarryPotterObamaPacMan8Inu  : NOT AUDITED 🚨 As I always say, Investors, invest only in audited tokens and secure your investment. Creators, please audit your tokens to avoid Security vulnerabilities, Financial fraud, Regulatory risk and Reputational damage. Share with your network to spread the awareness and to secure the community. Also comment the token you want to check next. Have a wonderful day 🙂 #blockchain #scamalert #tokenauditing #auditing #spreadawareness #bitcoin #cyberconnect #HarryPotterObamaPacMan8Inu

Is your wallet really safe? ❌❌❌ Even private key generation can be a huge vulnerability. (Your wallets might be compromised before it’s even generated) So how does MPCVault mitigate this risk? ⬇️ ⬇️ ⬇️ ⬇️ 1. During distributed key generation, there are multiple sources of entropy, thanks to MPC. 2. We have an entropy augmentation process that takes in additional entropies from the users/developers, such as screen touches and network bytes. 3. We do not use the key generation function provided by blockchain/token libraries at all. Key operations are done separately from transaction constructions. Not all wallets are created equal. If you are serious about your crypto assets, you should consider moving to MPCVault

Indian Crypto Exchange Halts Withdrawals After Losing Half Its Reserves in Security Breach: An anonymous reader shares a report: Indian crypto exchange WazirX on Thursday confirmed it had suffered a security breach after about $230 million in assets were "suspiciously transferred" out of the platform earlier in the day. The Mumbai-based firm said one of its multisig wallets had suffered a security breach, and it was temporarily pausing all withdrawals from the platform. Lookchain, a third-party blockchain explorer, reported that more than 200 cryptocurrencies, including 5.43 billion SHIB tokens, over 15,200 Ethereum tokens, 20.5 million Matic tokens, 640 billion Pepe tokens, 5.79 million USDT, and 135 million Gala tokens were "stolen" from the platform. WazirX reported holdings of about $500 million in its June proof-of-reserves disclosure. Read more of this story at Slashdot.

Continuing with Day 15 on Ship30for30: 3 𝗖𝗿𝘆𝗽𝘁𝗼 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗚𝘂𝗶𝗱𝗲𝘀 𝗙𝗼𝗿 𝗖𝗿𝘆𝗽𝘁𝗼 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝗧𝗼 𝗣𝗿𝗼𝘁𝗲𝗰𝘁 𝗬𝗼𝘂𝗿 𝗔𝘀𝘀𝗲𝘁𝘀, 𝗔𝘃𝗼𝗶𝗱 𝗖𝗼𝘀𝘁𝗹𝘆 𝗠𝗶𝘀𝘁𝗮𝗸𝗲𝘀, 𝗔𝗻𝗱 𝗦𝘁𝗮𝘆 𝗔𝗵𝗲𝗮𝗱 𝗢𝗳 𝗛𝗮𝗰𝗸𝗲𝗿𝘀 --> https://lnkd.in/e-4Yt2Wv I've just compared three essential security guides that every cryptocurrency investor should read: 1. "2024 Guide: What You Need to Know to Invest in Crypto Safely" by Security.org 2. "On the Dangers of Cryptocurrencies and the Uselessness of Blockchain" by Bruce Schneier 3. "Investing in Cryptocurrencies: The Ultimate Guide" by Toptal These guides cover critical topics like: • Two-Factor Authentication (2FA) • Hardware wallet usage • Common security pitfalls • Latest security practices But here's the kicker: None mention YubiKeys for passkey authentication — a game-changer in crypto security. Are you curious about how these insights can protect your investments? Check out my latest post for the full comparison and learn why staying informed is crucial in the ever-evolving crypto landscape. What's your go-to method for securing your digital assets? Let me know your thoughts in the comments: ⬇️ ♻️ Repost this to your network and follow me for more! https://lnkd.in/e-4Yt2Wv #Ship30for30 #CryptoSecurity #InvestorTips #Blockchain

Staking your crypto can be lucrative, but it's not without risks! 🔒💰 1️⃣ Loss of Liquidity: Once staked, your crypto is locked, limiting your ability to access it quickly. 2️⃣ Slashing Penalties: Make a mistake in your staking setup, and you could face penalties that slash your holdings. 3️⃣ Network Vulnerabilities: Blockchain networks aren't immune to bugs or attacks, potentially putting your staked assets at risk. 4️⃣ Market Volatility: Cryptocurrency prices can be wild! A sudden crash can affect your staked assets' value. 5️⃣ Regulatory Changes: Shifting regulations can impact your staking rewards or even make it illegal. Stay informed and mitigate these risks! #follow and #share for more crypto tips. 🛡💡 #crypto #staking #RiskManagement #web3education #nfts #communitymanager