🚀 Onyx Protocol Set To Relaunch After $3.8 Million Hack
#OnyxProtocol #DeFi #hack #OIP46 #Ethereum #lending #relaunch #NFT #crypto #security #blockchain #PeckShield #Cyvers #cryptohacks #Web3 #XCN #RWA
According to Cointelegraph, decentralized finance (DeFi) protocol Onyx is set to relaunch its open-source, permissioned financial network, Onyx Core, following a $3.8 million hack on Sept. 27. The hack exploited a known but unaddressed security vulnerability. The Onyx Improvement Proposal (OIP)-46, introduced on the same day as the exploit, called for significant changes to the protocol, including shutting down its Ethereum-based lending market and reimbursing lenders in full.
By Sept. 29, the OIP-46 proposal had received unanimous support from the Onyx community, with no votes against the proposed changes. The proposal is scheduled for execution on Oct. 1. The Onyx team plans to issue a revised white paper for the relaunch of Onyx Core as a primary product, alongside Onyxcoin (XCN) staking.
The restructuring will involve operating the Onyx Protocol as a closed-ended lending protocol on Onyx Core, allowing users to wrap non-fungible tokens (NFTs), real-world assets (RWA), and crypto assets. The hack was executed by manipulating an NFTLiquidation contract to inflate the self-liquidation reward amount. Blockchain security firm PeckShield noted that the same vulnerability was previously used to attack Onyx in October 2023. Other hacks exploiting the same vulnerability include the Hundred Finance hack in April 2023. The proposed restructuring aims to secure the Onyx Protocol from future attacks.
According to Web3 cybersecurity company Cyvers, losses from crypto hacks in the first three quarters of 2024 exceeded $2.1 billion. Centralized finance operators, such as crypto exchanges, were the biggest targets, with a 984% year-on-year increase in the first three quarters of 2024. Much of that came in the year’s second quarter when $401 million was lost. While losses in the DeFi sector dropped 25% year-on-year in Q2, the sector still saw $171.3 million lost from 62 incidents.#OnyxProtocol #DeFi #hack #OIP46 #Ethereum #lending #relaunch #NFT #crypto #security #blockchain #PeckShield #Cyvers #cryptohacks #Web3 #XCN #RWA
🚀 Mobius Token Suffers $2.15 Million Loss in BNB Chain Exploit
#MobiusToken #BNBChain #CryptoSecurity #Hacking #Exploit #SmartContracts #Loss #DigitalAssets #Blockchain #PeckShield #Cyvers #ZachXBT #BTC
According to Cointelegraph, hackers successfully drained over $2.15 million from Mobius Token ($MBU) smart contracts on the BNB Chain in a targeted exploit detected on May 11. The security firm Cyvers Alerts reported that the attacker deployed a contract from the address 0xb32a53... at 07:31:38 UTC and initiated the exploit at 07:33:56 UTC, siphoning funds from the victim's wallet 0xb5252f.... Cyvers confirmed that the attacker utilized contract 0x631adf... to carry out a series of malicious transactions. This smart contract drained 28.5 million MBU tokens, converting them into stablecoins, which resulted in a net loss of $2,152,219.99 for the victim. The attacker’s wallet remains active, retaining the stolen funds as of the publication date, and the Mobius Token team has yet to release an official statement.
In a related development, Cyvers labeled the exploit as “critical,” highlighting the attacker’s use of suspicious contract code and abnormal transaction patterns. The security firm noted that two minutes before the exploit, their system identified the deployment of a malicious smart contract that eventually targeted the Mobius Token smart contracts. This incident adds to the growing list of security breaches in the crypto space.
In April 2025, blockchain security firm PeckShield reported nearly $360 million in digital assets were stolen across 18 hacking incidents. This marked a significant increase of 990% compared to March, when losses from hacks totaled approximately $33 million. The largest portion of these losses stemmed from an unauthorized Bitcoin transfer. On April 28, blockchain investigator ZachXBT flagged a suspicious transfer of $330 million in BTC, later confirming it as a social engineering attack targeting an elderly individual in the United States.#MobiusToken #BNBChain #CryptoSecurity #Hacking #Exploit #SmartContracts #Loss #DigitalAssets #Blockchain #PeckShield #Cyvers #ZachXBT #BTC
🚀 Cyvers Detects Suspicious Transactions Involving UXLINK
#Cyvers #UXLINK #ForesightNews #suspicioustransactions #delegateCall #addOwnerWithThreshold #USDT #USDC #WBTC #ETH
According to Foresight News, security firm Cyvers has issued a warning after its system detected suspicious transactions involving approximately $11.3 million linked to UXLINK. An Ethereum address executed a delegateCall, removed the administrator role, and invoked the 'addOwnerWithThreshold' function. This resulted in the transfer of 4 million USDT, 500,000 USDC, 3.7 WBTC, and 25 ETH. All USDC and USDT have been moved.#Cyvers #UXLINK #ForesightNews #suspicioustransactions #delegateCall #addOwnerWithThreshold #USDT #USDC #WBTC #ETH
🚀 Balancer Faces Potential Exploit Amid Large Crypto Transfers
#Balancer #cryptotransfers #exploit #decentralizedfinance #securitybreach #ETH #liquidstakedETH #Lido #wrappedEther #staking #DeFi #smartcontracts #phishingattack #blockchainsecurity #crypto #Nansen #Cyvers #domainnameattack #liquiditypools #digitalassets
According to Cointelegraph, decentralized exchange and automated market maker Balancer may be facing a new exploit following the transfer of approximately $70 million in digital assets to a newly created wallet. Onchain data reveals that the decentralized finance protocol experienced the movement of around $70.9 million worth of liquid staked Ether tokens to a fresh wallet through three transactions, as indicated by Etherscan logs. The transfers comprised 6,850 StakeWise Staked ETH, 6,590 Wrapped Ether, and 4,260 Lido wstETH, as reported by crypto intelligence platform Nansen in a Monday post.
While Balancer has not yet confirmed the breach, the substantial flow of assets into the new cryptocurrency wallet suggests that the transfers may have resulted from a security breach. Blockchain security firm Cyvers has estimated that suspicious transactions involving up to $84 million across multiple chains related to Balancer were involved, as noted in a Monday post. This potential exploit comes two months after Balancer experienced a domain name system attack on its front-end website, which was announced on September 20. During that incident, hackers redirected users to a phishing website linked to malicious smart contracts designed to steal user funds. Approximately $238,000 worth of digital assets were stolen in the phishing attack, according to blockchain investigator ZachXBT.
Earlier in August, Balancer also encountered a nearly $1 million stablecoin exploit, occurring a week after the protocol disclosed a critical vulnerability affecting certain liquidity pools. These incidents highlight ongoing security challenges within the decentralized finance sector, emphasizing the need for robust security measures to protect user assets and maintain trust in the ecosystem. As the situation unfolds, stakeholders and users of Balancer are closely monitoring developments to understand the full extent of the potential exploit and its implications for the platform and its users.#Balancer #cryptotransfers #exploit #decentralizedfinance #securitybreach #ETH #liquidstakedETH #Lido #wrappedEther #staking #DeFi #smartcontracts #phishingattack #blockchainsecurity #crypto #Nansen #Cyvers #domainnameattack #liquiditypools #digitalassets
🚀 Solana Protocols Hit by $280 Million Exploit, Drift Initiates Contact with Attacker
#Solana #Exploit #Drift #Ethereum #Attacker #Ether #Blockchain #Cyvers #Gauntlet #NS3AI #SolanaProtocols #StolenFunds #Cryptocurrency #Blockscan #CryptoAttack #Security #ETH #SOL
Drift has reached out to wallets linked to a significant exploit, estimated by external firms to be between $280 million and $286 million. According to NS3.AI, Drift communicated from its Ethereum address to four wallets containing the stolen Ether, requesting the attacker to engage via Blockscan chat. SolanaFloor reported that the exploit impacted at least 20 Solana protocols, including Gauntlet, with losses estimated at $6.4 million. Cyvers noted that no funds had been recovered 48 hours post-attack, suggesting the incident might have been a staged operation.#Solana #Exploit #Drift #Ethereum #Attacker #Ether #Blockchain #Cyvers #Gauntlet #NS3AI #SolanaProtocols #StolenFunds #Cryptocurrency #Blockscan #CryptoAttack #Security #ETH #SOL