Discover and read the best of Twitter Threads about #CryptoSecurity

Most recents (9)

🚨 Breaking: CFTC Sues Binance & CZ - Unpacking the Allegations 📉 #BinanceLawsuit

The CFTC has sued crypto exchange Binance & CZ over allegations of knowingly offering unregistered crypto derivatives products in the US & violating federal laws.

Let's dive into the details.🧵👇
1/ 🔍 The lawsuit alleges that Binance operated a derivatives trading operation in the US, offering trades for cryptocurrencies like BTC, ETH, USDT, and BUSD, referred to as commodities in the suit. #Binance is accused of directing employees to use VPNs to spoof their locations.
2/ CFTC's Charges Against Binance📜

The CFTC is charging Binance with violating laws around offering futures transactions, illegal off-exchange commodity options, failing to register as a futures commissions merchant, designated contract market or swap execution facility & more
Read 15 tweets
1/ 🔒💰 Protecting your crypto is more important than ever.

Here are some of the most common scams and tactics used by hackers, and how you can protect yourself against them (Thread 🧵 Alert 🚨)
2/ Malicious transactions:
Scammers can trick you into signing a transaction that grants them access to your assets.

To protect yourself, keep an eye on the transactions you make and the sites you interact with.
3/ Malicious messages:
Phishing sites can trick you into signing a message disguised as a wallet connect.

To protect yourself, double-check what you're signing.
Read 11 tweets
DeFi Attack | ULME Token was attacked (phalcon.blocksec.com/tx/bsc/0xdb9a1…), and the attacker gained around 50,646 BUSD.
It's an indirect price manipulation attack caused by unrestricted access control.

⚠️ Do not approve your BUSDs to ULME token contract !!!
#DeFi #BSC #CryptoSecurity Image
Analysis
1) Use Flashloan to borrow BUSD
2) Swap BUSD for ULME on Pancake
3) Call the `buyMiner` function of ULME token based on pre-discovered users who approved BUSD tokens
4) Swap ULME for BUSD with an indirectly manipulated price
5) Return the Flashloan and loot 50,646 BUSD Image
Sorry for the typo. 'BUSD' -> 'BUSD-T'
Read 3 tweets
1/ DeFi Alert | Our monitoring system reported that a front-running transaction targeting RADT-DAO token (tools.blocksec.com/tx/bsc/0xd692f…), and the loss is around 94,304.58 USDT. It caused the price of RADT-DAO token dropped 81.97%.

#DeFi #BSC #CryptoSecurity Image
2/ There are three front-running transactions and a failed "original" transaction (bscscan.com/tx/0xe4f697883…). Through the investigation, we find that the attack is made possible due to the price manipulation of the RADT-DAO - USDT pair in the Pancake pool. Below is the detail: Image
3/ Steps
1) Borrow USDT via flashloan
2) Partially swap USDT for RADT-DAO token in the Pancake pool
3) Trigger the fallback function of the RADT-DAO contract to transfer the remaining RADT-DAO in the Pancake pool
4) Swap RADT-DAO (from Step 2) for USDT
5) Return the flashloan Image
Read 3 tweets
Alert | Our monitoring system detected a weird transaction (tools.blocksec.com/tx/bsc/0xe176b…), and the "attack" profit is around 61,160 BSC-USD.

#DeFi #BSC #CryptoSecurity
2. Analysis
1) Borrow BSC-USD via flashloan, buy USDT, and swap to $Zoom @ZoomproFinance
2) Call 0x47391071824569f29381dfeaf2f1b47a4004933b "0x1e69fcc4" function and it will send 1M USDT to ZOOM/USDT Pair Image
2. Analysis
3) The price of Zoom/USDT will raise after calling the pair function sync
4) Swap Zoom to USDT, buy BSC-USD and return the flashloan.
Read 5 tweets
DeFi Attack | Our monitoring system reported that XSTABLE.PROTOCOL was attacked (etherscan.io/tx/0x873f7c77d…), and the loss is around 27.13 WETH.

This is a Logic Vulnerability.
#DeFi #ETH #CryptoSecurity
2.1/ The Attack Process
Attacker: 0x334f3606886456537d0eb616497e770cbd2fbe5d

Mal Contract: 0x4fbb8840d37a21e38c8e438db27aae7bb91af052

Pool1: UniswapV2 WETH/USDT

Pool2: UniswapV2 WETH/XST
2.2/
1)Flashloan
from Pool1: 77.99 WETH
2)Swap in Pool2
77.99 WETH for 403,258 XST
3)Transfer 92,415 XST -> Pool2
4)Pool2.skim(Pool2)
Pool2 -> Pool2: 92.415 XST
..skims
5)Pool2.skim(Attacker)
6)Swap in Pool2:
3,413,549 XST for 105.35 WETH
Profit: 27.13 WETH
Read 6 tweets
DeFi Attack | Our monitoring system reported that EGD_Finance was attacked (bscscan.com/tx/0x50da0b1b6…), and the loss is around 36,044 USDT.
This is a typical price manipulation attack.
#DeFi #BSC #CryptoSecurity
2/ The process of attack:
1)Flashloan from
Pool1: 2,000 BUSD-T
Pool2: 424,456 BUSD-T

Pool1: Pancake Pool BUSD-T/WBNB

Pool2: Pancake Pool **EGD**/BUSD-T
3/ The process of attack:
2) EGD_Finance.claimAllReward()
=> EGD_Finance transfers --- 5,614,105 EGD ---> Mal Contract

Mal Contract: 0xC30808D9373093fBFCEc9e026457C6a9DaB706a7

Attacker: 0xee0221D76504Aec40f63ad7e36855EEbF5eA5EDd
Read 4 tweets
Exploit | Our monitoring system reported that Nomad Bridge @nomadxyz_ was attacked (etherscan.io/address/0xb923…), and the loss is around 150M USDT.

#crosschain #CryptoSecurity
2/ As a cross-bridge project, Nomad adopts a merkle-proof technology to verify that user requests are valid. By calling **process** function, a user can pass the request message to the contract.
3/ The verification procedure in the **process** function firstly finds the corresponding Merkle root by the hash of the message and the Merkle root is then passed into the **acceptableRoot** function to see if it is legal or not.
Read 6 tweets
[31/236]

So why did this transaction have a MetaMask pop up and why is this the only function interaction that has been registered on Etherscan. To understand it better let us look at "stateMutability" witin the ABI (docs.soliditylang.org/en/v0.8.13/abi…) Image
[32/236]
As per the ABI, the state mutability has been pure or view for the other functions. These do not affect the Blockchain. While on the other "authenticate()" function has a state mutability as nonpayable which does affect the blockchain as data is being registered. Image
[33/236]
Back to the transaction, once the approve button is clicked on the Metamask pop up, a transaction hash is generated and broadcast to the network , it is sent to a transaction pool. Image
Read 207 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!