FBI issues alert on cybercriminal exploits targeting DeFi
Smart contracts governing DeFi platforms identified as particular area of concern for enforcement agency.
New
The US Federal Bureau of Investigation (FBI) has issued a new warning to investors in decentralized finance (DeFi) platforms, which were targeted by $1.6 billion in exploits in 2022.
In an August 29 public service announcement on the FBI's Internet Crime Complaint Center, the agency said the exploits had caused investors to lose money - advising investors to thoroughly research the platforms. Defi platforms before using them, while urging the platforms to improve. monitor and perform rigorous code testing.
The law enforcement agency has warned that cybercriminals are out in force to take advantage of "increased investor interest in cryptocurrencies" and "the complexity of cross-chain functionality and the nature open source of the Defi platforms".
The #FBI warns that cybercriminals are increasingly exploiting vulnerabilities in decentralized finance (DeFi) platforms to steal investors' cryptocurrency. If you think you might be a victim, contact your local FBI office or IC3. Learn more: https://t.co/fboL1N17JN pic.twitter.com/VKdbpbmEU1
— FBI (@FBI) August 29, 2022The FBI has observed cybercriminals exploiting vulnerabilities in smart contracts that govern DeFi platforms to steal cryptocurrency from investors.
In one specific example, the FBI cited instances where hackers used a "signature verification vulnerability" to loot $321 million from the Wormhole token bridge in February. He also mentioned a flash lending attack that was used to trigger an exploit in the Solana DeFi Nirvana protocol in July.
However, this is just a drop in a vast ocean; according to an analysis by the blockchain security company CertiK in M, since the
Smart contracts governing DeFi platforms identified as particular area of concern for enforcement agency.
New
The US Federal Bureau of Investigation (FBI) has issued a new warning to investors in decentralized finance (DeFi) platforms, which were targeted by $1.6 billion in exploits in 2022.
In an August 29 public service announcement on the FBI's Internet Crime Complaint Center, the agency said the exploits had caused investors to lose money - advising investors to thoroughly research the platforms. Defi platforms before using them, while urging the platforms to improve. monitor and perform rigorous code testing.
The law enforcement agency has warned that cybercriminals are out in force to take advantage of "increased investor interest in cryptocurrencies" and "the complexity of cross-chain functionality and the nature open source of the Defi platforms".
The #FBI warns that cybercriminals are increasingly exploiting vulnerabilities in decentralized finance (DeFi) platforms to steal investors' cryptocurrency. If you think you might be a victim, contact your local FBI office or IC3. Learn more: https://t.co/fboL1N17JN pic.twitter.com/VKdbpbmEU1
— FBI (@FBI) August 29, 2022The FBI has observed cybercriminals exploiting vulnerabilities in smart contracts that govern DeFi platforms to steal cryptocurrency from investors.
In one specific example, the FBI cited instances where hackers used a "signature verification vulnerability" to loot $321 million from the Wormhole token bridge in February. He also mentioned a flash lending attack that was used to trigger an exploit in the Solana DeFi Nirvana protocol in July.
However, this is just a drop in a vast ocean; according to an analysis by the blockchain security company CertiK in M, since the
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