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SQUID Saga- From $2,800​ to ZERO in 5 minutes🚨

This Week in Hacks

Vesper Finance suffered an oracle manipulation attack

Vesper Finance, a DeFi ecosystem for crypto, suffered an oracle manipulation attack, where the attacker created a Uniswap liquidity pool on VUSD, a low-liquidity stablecoin project in beta.

Rari Capital Fell Victim to oracle manipulation attack

Rari Capital, a yield-maximising platform, suffered an oracle manipulation attack on Fuse Pool 23. The attacker drained the pool by adjusting the price of VUSD.

SQUID Fell for $3.38 Million

$SQUID, a fan token of the popular Korean Netflix series Squid Game, rug pulled investors for $3.38 Million through Tornado Cash.

The coin plummeted 99.99% after reaching its peak value of $2,861.80.

“More than 36,000 investors were defrauded in the crypto heist. According to CoinMarketCap, people were reported to be facing issues selling their $SQUID tokens during the price surge before the rug pull took place. The project deleted its social media handles.”

BXH experienced an exploit on the BSC Network

BXH, a decentralised trading platform, suffered an attack on the BSC network. Deposit and withdraw services were suspended for security reasons.

Chivo wallet was hacked by hackers

Chivo wallet, an El-Salvador government-led wallet to promote Bitcoin initiative’s, setting-up process was hacked by hackers.

The main cause of the issue is reported to be a faulty registration process. Residents claim that they were unable to open their accounts because their DUI number, a unique identification number, was used without consent.

More than 2 Million people have downloaded the wallet.

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Vulnerability Write-ups

C.R.E.A.M. Finance Post mortem: Flash Loan Exploit by CREAM Finance team.

Replaying Ethereum Hacks — Rari Fuse VUSD Price Manipulation by C Michel.

CREAM Finance Oracle Attack PoC by BlockSec Team.

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DeFi Security

Top 10 Rules of DeFi Safety | How to Avoid getting Your Crypto Stolen by RugDoc.

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DeFi in Numbers

  • The TVL (Total Value Locked) in DeFi hits a new all-time high of $236 Billion.

Source: https://www.prnewswire.com/news-releases/defi-total-value-locked-hits-all-time-high-of-236-billion-301412901.html

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More From Editors Desk

With the emergence of many marketplaces and innovative use cases such as intellectual property with NFTs, it is evident that NFTs are here to stay. Many secondary markets are now providing NFTs with better utility.

CryptoPunks and Bored Apes could be just the tip of the iceberg. NFTs have a lot more potential that can be uncovered over time. It is only the beginning of a revolution and everyone wants to be a part of it.

READ MORE…

Fact: If you created a video 10 years ago which was of 720p resolution, little did you know that 4k will become a reality and your video will not have the same value after 10 years.

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Word on the Block

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