Another Crypto Protocol Falls Victim to Hackers

A crypto protocol just lost millions of dollars in altcoins during a major security breach, as reported by Cyvers Alerts.

In recent news, LiFi Protocol, an API facilitating Ethereum virtual machine (EVM) and Solana (SOL) swaps, is currently facing a significant security breach, resulting in the loss of over $8 million in cryptocurrencies.

Cyvers Alerts detected suspicious transactions involving a specific contract address within the LiFi protocol.

As a precautionary measure, Cyvers advised users to immediately revoke approvals linked to the address: 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae.

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North Korean Hackers Allegedly Linked to $305 Million Crypto Exchange Exploit

This year has been marked by increased hacker activity in the crypto space, with hundreds of millions being stolen in the past few months and this attack is just one of the many cases, that have been haunting the market.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.