Cyber ​​attack stole $120 million in cryptocurrency

Cyber ​​attack stole $120 million in cryptocurrency

Cyber ​​security attacks are on the rise, and the amount stolen can now reach eight-digit amounts.

This is certainly one of the most impressive flights of recent years. If cryptocurrencies are often presented as security guarantees that are listed on the blockchain, it is not infringing for all of them. Indeed, on Wednesday evening, financial platform BadgerDAO was the victim of one of the biggest attacks in its history.

One person has actually managed to withdraw around $120 million in various cryptocurrencies. While the investigation is still ongoing, it is being conducted jointly by Badger and Peckshield, a specialist company. blockchain security and data analysis, the person inserted a malicious script into the user interface of his website.

896 bitcoins at a time

For all users who thus interacted with the site when the script was relevant, the cybercriminal intercepted the Web3 transaction and entered a request to transfer tokens from the victim’s account to the perpetrator’s address. Peckshield highlights a transfer that took no fewer than 896 shots bitcoins All for the value of more than $50 million directly into the criminals’ account.

According to the first information that has come to the fore from the investigation, on November 10, a malicious script may have arrived on the Badger site. To avoid detection too early, criminals will dispose of the code at irregular time intervals and for very short periods of time.

Finally, by the time Badger realized the attack, it was too late. More than $120 million in cryptocurrency had disappeared in “transparent” transactions. Almost all of the site was eventually frozen, while the first phase of the investigation revealed more about the hackers’ modus operandi.

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A simple human error?

The latter would have actually been successful in gaining access to Cloudflare thanks to an API key that should have been under two-factor authentication. This massive attack must have been human in origin, as is the case with cyber attacks today. In fact, the human factor remains the final weak point of the sophisticated computer systems that we have today.

Not everyone realizes the importance of a badger, even in high-tech structures like cryptocurrency exchanges as a badger. two-factor authentication, A clear step forward in protecting personal data, encouraged by all the biggest companies in the world of new technologies.

About the author: Seth Grace

"Social media trailblazer. Music junkie. Evil student. Introvert. Typical beer fan. Extreme web ninja. Tv fanatic. Total travel evangelist. Zombie guru."

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