Juan Henao’s Post

Crypto Exchange BingX Hacked, Onchain Data Shows Over $43M Drained 🧐 BingX, a major crypto exchange, has suffered a hack resulting in the theft of approximately $43 million. The stolen assets include: 🔺 $13.25 million in Ether ($ETH) 🔺 $2.3 million in Binance Coin ($BNB) 🔺 $4.4 million in $USDT 🔺 and $23 million in other altcoins being drained. ⏩ The hack occurred in two phases: the first resulted in a loss of $26 million, and a second followed shortly after with an additional $16.5 million drained. ⭐️ Key details: 🔺 Hackers swapped the stolen assets for $ETH and $BNB via decentralized exchanges (DEXs) like #Uniswap and #Kyberswap. 🔺 Over 360 altcoins were taken. 🔺 BingX CEO Vivien Lien assured users that the losses are "minimal and manageable" with trading services continuing as usual. 🔺 Withdrawals and deposits are temporarily delayed but expected to be restored within 24 hours. ⭐️ Remaining funds: As of the last update, the hacker's wallet holds over 1,000 $ETH and tokens valued at $5 million. 🔗 Source (https://lnkd.in/gmQZ3U_5) #CryptoHacks #BingX #CryptoSecurity #Blockchain #CyberSecurity

🚨 Justice Served: Five-Year Sentence for Bitfinex Bitcoin Hacker 🚨 Today, we witness the conclusion of a significant chapter in the crypto world. Ilya Lichtenstein has been sentenced to five years in prison for orchestrating one of the largest bitcoin thefts in history. In 2016, he executed an intricate hack on Bitfinex, stealing nearly 120,000 bitcoin. 💡 Key Details: 🔍 Sophisticated Hack: Lichtenstein, using advanced techniques, conducted over 2,000 fraudulent transactions, vanishing 119,754 bitcoin into his wallets. 💸 Elaborate Money Laundering: Alongside his wife, Heather Morgan, they disguised 25,111 bitcoin through a web of transactions including Eastern European banks and bitcoin mixers. 💥 Critiques: Despite the complexity, experts labeled some of his methods as flawed. Using publicly traceable accounts like Coinbase left a trail. Lichtenstein's actions, though intricate, led to inevitable capture, raising questions about the effectiveness of even the most sophisticated illicit techniques. What lessons can the crypto community learn from this? How can we enhance cybersecurity measures to prevent such breaches in the future? Share your thoughts below ⬇️ #Bitcoin #CryptoSecurity #Blockchain #CryptoCrime #BitfinexHack Read more: https://lnkd.in/eDAtajqR

#CyberNews In November 2024, cryptocurrency hackers stole over $71 million in digital assets, pushing the total amount of crypto stolen this year to a staggering $1.48 billion, according to an Immunefi report. Despite a 15% decrease in losses compared to 2023, which saw over $1.75 billion stolen, the ongoing threats to the crypto ecosystem remain a significant concern. The rise in decentralized finance (DeFi) and increased total value locked (TVL) has made the industry even more appealing to hackers, with vulnerabilities being exploited across various platforms. Read More: https://lnkd.in/dytfUTnh #Crypto #Hacks #DeFi

🔐 8 Key Advantages of Integrating a Multisig Wallet on Your Crypto Exchange with Dappfort's Binance Clone Script! 🚀 Security is paramount in the crypto world, and a Multisig wallet offers unparalleled protection for your users. Here’s why you should consider it: Enhanced Security: Multiple signatures are required for transactions, reducing the risk of hacks. Fraud Prevention: Prevent unauthorized access and protect against internal fraud. User Trust: Build confidence among users with robust security features. Shared Control: Allow multiple stakeholders to manage funds collaboratively. Dispute Resolution: Simplify conflict resolution with shared access. Customizable: Tailor the wallet settings to meet specific business needs. Scalability: Easily manage large volumes of transactions with secure protocols. Compliance Ready: Align with industry standards for a safer trading environment. Integrate these advantages into your crypto exchange with Dappfort’s Binance Clone Script and offer your users top-notch security and trust. 💡 Ready to elevate your exchange’s security? Let’s get started! https://bit.ly/46VO1e6 #CryptoExchange #MultisigWallet #BinanceClone #BlockchainSecurity #Cryptocurrency #CryptoSecurity #Dappfort

Our latest article looks at the evolution of auditing cryptocurrency holdings. 📚 Why Does It Matter? >As cryptocurrencies become more integrated into global financial systems, robust auditing practices are essential to meet evolving regulatory standards. >Audits help safeguard against cyber threats and fraud, protecting investors and maintaining the integrity of digital transactions. >Thorough and transparent audits build trust among investors and institutions, fostering broader adoption and stability in the cryptocurrency market. 🧠 By staying informed, accountants can navigate the complexities of digital assets and contribute to a more secure and compliant ecosystem. Your thoughts and feedback are always welcome! #CryptoAuditing #Blockchain #Cryptocurrency #Audit #Finance #Regulation #Technology #Education #Innovation #BlockWise

We are thrilled to announce the launch of our latest service, setting the standard for secure Bitcoin transactions: Protected Co-signing 🛡️ The risks involved in digital asset custody, such as misplaced private keys, fraud or an exchange hack, can lead to funds being lost forever. So how do you safeguard your assets? Protected Co-signing is here to add an extra layer of protection. With our Protected Co-signing service, we offer cutting-edge protection measures to secure your investments and transactions, pioneered by our partner Onramp. Key Features of Co-signing Service:  🔒 State-of-the-art security measures 🔍 Automatic screening of transactions 💼 Failsafe, insurance-backed warranty This is the next step in the evolution of crypto custody. 🌱 Learn more about our Protected Co-signing service and how it can empower your blockchain journey: https://lnkd.in/eJrjXffb #CryptoSecurity #BlockchainProtection #DigitalAssets #CryptoProtection #BlockchainSecurity #BlockchainRisks

Please DM if you would like to know more about “Protected Co-signing”? What is it and how it could enhance the safety of your crypto assets 🔐

Now this is exciting. One of the most pertinent conversations around digital asset custody has always been about derisking. Now, as markets pick up and crypto user numbers climb ever upwards - it's a conversation that's more important than ever. We are proud to announce the launch of Protected Co-Signing - enabling our pioneering insurance-backed technology to protect businesses and users across increasingly more decentralised custody and wallet platforms. Working with the Onramp team to understand the needs of Bitcoin allocators and the role of strong risk-mitigation has been exceptional. As they crack open new markets (Congrats Onramp MENA!), delivering best-in-class approaches to Bitcoin custody will open up tons of opportunities for investors worldwide. If you are building (or use) a platform that distributes keys across multiple entities - feel free to give me a buzz to dive into how it works. #custody #bitcoin #riskmitigation #multisig #mpc #coincover #onrampbitcoin Coincover

Japanese cryptocurrency exchange DMM Bitcoin will cease operations by March 2025 after a May 2024 cyberattack resulted in the theft of approximately $305 million worth of Bitcoin. Customer accounts and assets will be transferred to SBI VC Trade, a subsidiary of SBI Holdings. Customers with leveraged trading positions are advised to close them before the transfer, as these will not be included in the migration to SBI VC Trade. The receiving platform plans to support spot trading for the 14 cryptocurrencies currently available on DMM Bitcoin, aiming for a seamless transition for users. This incident highlights ongoing security challenges within Japan’s cryptocurrency sector, which has previously experienced significant breaches, such as the $530 million Coincheck hack in 2018. #Cryptocurrency #CyberSecurity #DMMBitcoin #SBIHoldings #CryptoRegulation