Fantom-based protocol Fantasm suffers $2.6M exploit🚨

Events Under the Spotlight

Top MLB Insider’s Twitter Account Gets Hacked

• Jeff Passon’s, an ESPN insider’s Twitter account, was hacked.
• Passan’s account got taken over by a user trying to promote NFTs.
• Multiple retweets from an NFT website immediately followed — and everyone knew that Passan had been hacked.

PirateX — an NFT adventure gaming platform was attacked

• When users deposited tokens in the smart contract, their tokens were routed to an EOA account and,
• The funds were returned when the users withdrew their tokens.
• The smart contract will call the Transferfrom function for the same.
• The attacker made a profit of 212 BNB performing this.

Fantom’s DeFi Fantasm Finance (FSM) Exploited; $2.73M Lost

• Fantasm Finance, an algorithmic trading platform on the Fantom network’s collateral reserves, was exploited.
• The hacker exchanged all the profits of $2.73 Million (1,007 ETH) for ETH routing the funds through Tornado Cash.

Tether Shiba Rug Pull

• Tether Shiba, a meme coin on BSC, rug pulled investors by deleting their social media accounts.

Bacon Protocol Hacked: Reportedly $1M Lost

• Bacon Protocol, a platform that allows homeowners to mortgage their properties as NFT, suffered a re-entrancy attack in the contract.
• The attack enabled the attacker to pocket more $bHOME tokens than they should, suffering a total $1 million loss.

To the Numerophiles out there 🔢

• The report says that trading in NFTs spiked 21,000% to more than $17 billion in 2021.

Source

More From the Editor’s Desk

If you are scrolling on any digital medium, NFTs is one word that will always appear on your screen and leave you amazed! Why? Because the world is going crazy over this new concept, that might be the next big revolution for the asset industry.

Utility NFTs are the next natural step of NFTs — they encompass what’s good about NFTs and make things even better for buyers by including attractive, redeemable perks that come with owning the NFT.

Explore more on this -

Read More

Word on the Block

Double Spend Attack

Versus Series

Permissioned Blockchains 🆚 Permissionless Blockchains

Catch out the Key differences between various significant terminologies in the Blockchain.

Stay updated with the latest happenings in the blockchain world; join our Discord community here🤝.