This Week in Crypto Hacks: Major Breaches Lead to $41 Million Loss

The post This Week in Crypto Hacks: Major Breaches Lead to $41 Million Loss appeared first on Coinpedia Fintech News

It’s time for the Crypto Hack Weekly Report – a digest of the most revealing hacks and scams in the crypto world.This week, the biggest data leak is the breach of Authy, two-factor authentication provider which happened to be hacked, attack on the Bittensor wallet, and the instance of crypto scammers who hacked Sydney Sweeney’s X account. Get ready and keep your ears to the ground as we dig deeper into these cyber hacks. 

Authy Hack: $33 Million Phone Numbers stolen

Authy, a two-factor authentication company, was breached, and their data base of 33 million users phone numbers was stolen. The attackers used an unpatched API interface which allowed them to check numerous phone numbers of Authy’s clients. Breach means increased chances of phishing and situations of SIM swapping for those associated numbers. 

Authy’s parent company, Twilio, has acknowledged the breach, and has ensured its client base solely to protect their accounts. Most of them have urged all the users of their platforms to download the latest versions of the android and iOS apps for latest security updates and warned them of fake phishing attempts. 

Bittensor wallets drained nearly $8 million worth TAO token effected

Single users of the Bittensor wallet software lost lots of money as hackers penetrated through the cryptocurrency wallets filled with the project’s TAO token. In total, about $8 million in TAO tokens are missing, coming to roughly 32,000 tokens. 

The blockchain investigator, ZachXBT attributed the attack to probable theft of a private key. To which Bittensor noted that affected users were exploited through a phishing Bittensor package that was uploaded to the Python Package Index (PyPi). The way this bad package was delivered to the victim is yet unknown 

Sydney Sweeney’s X Account Compromised by Crypto Scammers

One of the main recent incidents involving celebrities’ accounts was the hacking of X account of Sydney Sweeney, America’s risingstar. The stolen credentials was used to pump a Solana-based fake meme currency created with the name of the “Euphoria” series actor. 

Another post was fake news that Sweeney would be live on X Spaces for a session to talk about the token. The account also created the semblance of a giveaway and token burn. For now, the said fake posts have already been deleted in Sweeney’s account. Joining other celebrities who have fallen victim to such ‘meme coin’ cons sparked by the likes of Iggy Azalea and have increased in number.

News of large-scale data leaks, wallet draining and social network scams loosen the message that the safety of people’s accounts depends not only on network guards, but also the user’s own responsibility. Stay safe while we keep bringing you the latest news and updates from the world of crypto hacks!

Also Read: Crypto Hacks Report: Over $1.5 Billion Stolen in H1 2024!