Key takeaways:
- The decentralized exchange and staking platform MonoSwap stated on July 24 that it had been the victim of a malicious breach.
- Scammers allegedly downloaded malicious malware onto the developer’s machine during the call, giving them access to all of the platform’s contracts and wallets.
The decentralized exchange and staking platform MonoSwap stated on July 24 that it had been the victim of a malicious breach. Users were cautioned not to stake or add any money at this time.
In addition to cautioning users from interacting with a malicious link that the protocol discovered in a social media post and to immediately remove their funds from the platform, MonoSwap issued the notice.
On July 23, one of the platform’s developers unintentionally downloaded a rogue phishing program and was tricked into speaking with con artists posing as venture capitalists, according to the platform.
Scammers allegedly downloaded malicious malware onto the developer’s machine during the call, giving them access to all of the platform’s contracts and wallets. As a result, hackers could remove the majority of the platform’s staked liquidity.
After announcing that it is looking into the issue and attempting to collaborate with venture investors to “build a better future for Monoswap,” MonoSwap added:
“Unfortunate things happened and now we are trying our best to solve this issue.”
Bobby Ong, the chief operating officer and co-founder of CoinGecko, alerted the crypto community on July 11th about the rise in crypto attacks and advised consumers not to deal with crypto for the next few days.
Ong says that the abrupt increase in attacks resulted from Google selling its domain business to Squarespace. The forced shift of the domains eliminated two-factor security authentication, leaving a security flaw currently being exploited.
Numerous well-known hacks and vulnerabilities have happened since the CoinGecko co-founder issued his warning. ZackXBT, an on-chain detective, recently raised the alarm about Compound Finance’s website, pointing users to a phishing page. The Compound Finance team has subsequently corrected the issue.
Popular Indian crypto exchange WazirX experienced a cyberattack on July 18, during which $235 million was taken out of the platform by hackers thought to be connected to the North Korean hacking group Lazarus.
