Step into the captivating world of NFTs, where digital assets become one-of-a-kind treasures! NFTs are the digital fingerprints of the future, offering unparalleled uniqueness and security. But as Monkey Kingdom's $1.3 million loss and the Bored Apes Yacht Club's $350,000 hiccup have shown, the digital realm can be tricky to navigate. In this video, we unveil the secrets to safeguarding your NFT kingdom, from spotting red flags and understanding rugpulls to securing your private keys with cold storage and multi-factor authentication. Discover how CertiK's KYC process can be your shield against potential threats, just like CryptoPunks' triumphant comeback after a 2017 hack. Whether you're a creator, investor, or simply an NFT enthusiast, ensure your journey through the world of digital uniqueness is both thrilling and secure. Explore now at certik.com/resources and take your first step into the future of digital ownership!
This week on Security in 60 Seconds, we delve into the latest security threats and vulnerabilities in the digital landscape. CertiK has reported ten incidents over the past week, resulting in a staggering $5.4 million in losses, with the majority attributed to a significant ice phishing incident. The episode also highlights concerning phishing attempts impersonating Stretto, the claims agent for the Celsius bankruptcy proceedings, which managed to circumvent sender policy framework checks. Additionally, we explore the repercussions of a social engineering attack on Balancer's DNS service provider, leading to a loss of $238,000, and discuss the potential of decentralized blockchain-based DNS as a solution. To cap it off, we uncover a new cloud-native cryptojacking operation targeting Amazon Web Services offerings. Stay informed and secure by tuning in to our weekly updates and following us on social media for the latest in Web3 security.
Q1 Hack3d Report | Euler Finance | CertiK Analysis Report - How did this happen? Let's take a look.
Malicious actors stole over $320 million of value from Web3 protocols across 207 separate incidents in Q1 2023. This represents just over a third of the $950 million lost in Q4, and a quarter of the $1.3 billion lost in Q1 2022.
Just one incident – the Euler Finance exploit at $197 million – represented over 60% of all value lost in Q1. This highlights the asymmetrical rewards on offer for successful exploits of large protocols.