Three new cases of hacking of famous blockchain projects
Posted On March 23, 2021
Watch This Russian Hacker Break Into Our Computer In Minutes | CNBC
Over the weekend, hackers carried out successful attacks on ZenCash, Verge and Block.one. As a result of the actions of cybercriminals, some of the cryptocurrency owners lost their funds.
On the morning of June 3, ZenCash informed users on its Twitter channel that their network had been under 51% attack during the night. The hacker made two double-spend trades of ZEN 19,600, using massive computing power to change 38 blocks and create a longer false chain. The team took prompt action and found the attacker’s address. Negotiations are underway with the exchange where the fake transaction was carried out in order to identify the hacker.
Verge users on Reddit and BitcoinTalk reported cryptocurrency malfunctions when new blocks were closed and data processing slowed down. Some miners and developers consider this to be a side effect of the third attack on this coin. Experts say this hack is different from the previous two. An attacker tricked one of the encryption algorithms in order to change the timestamps and simplify the confirmation process. The vulnerability of the code allowed him, with a relatively small hash rate, to generate and collect coins in a short time. They believe it was an attack called Block Retention Attack..
The EOS MainNet launch process also failed to escape manipulation by attackers. At the first stage, hackers hacked into the Block.one system in order to obtain private information about the project’s investors and gain access to the mail service. The scammers then sent them emails with a link to a fake project page where unsold tokens could be obtained..
Everything was well organized, as there were other links to valid resources, and the false address differed by only one letter «eȯs.com» from the Old Latvian language, above which an inconspicuous dot is added. As a result, everyone who entered the private key to apply for «free tokens», have lost their existing ETH and EOS. It is estimated that scammers managed to steal several million dollars worth of cryptocurrency.
Recall that the crypto community asked Twitter to start the fight against crypto scammers.