This month has seen an increase in crypto hacks, with the latest involving the Casper Network on July 27.
On July 27, Casper Network reported a significant security breach via Twitter. To prevent further damage, they immediately halted the network at block 3,329,418, stopping all transactions, minting, and staking activities.
Casper Network assured users the breach is contained and they are working on a solution. They are currently assessing the damage and will share a detailed report once the investigation is complete. Only a few major accounts were affected, and trading of the CSPR token remains unaffected.
The Casper Network breach follows other recent hacks, including a major attack on India’s largest crypto exchange, WazirX, and a $7.6 million theft from Scroll Network’s lending protocol.
These incidents raise serious concerns about the security of investors’ funds, highlighting vulnerabilities in crypto projects and prompting questions about achieving blockchain-level security.
BingX, a cryptocurrency exchange, has alerted users to a possible security breach involving its hot wallet, leading to the activation of emergency protocols.
In the next five years, government prosecutors and tax agencies are expected to utilize artificial intelligence to analyze blockchain data for crime detection, according to Chainalysis CEO Michael Gronager.
Germany has shut down 47 cryptocurrency exchanges, accusing them of enabling cybercriminals to launder money by ignoring anti-money laundering regulations.
In the wake of the $230 million hack at Indian crypto exchange WazirX, the attackers have moved another $12 million worth of Ethereum.