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Optimism exploiter claims willingness to return 18 million OP tokens

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Quick Take On Friday morning, the Optimism hacker sent an on-chain message showing willingness to repay the exploited funds. After a few hours, the hacker returned 17 million OP tokens back to Optimism.   Update (8:50 AM ET): The hacker has returned 17 million OP tokens to the Optimism Foundation in multiple onchain transactions, security firm PeckShield said. Optimism’s hacker today claimed to be open to returning 18 million Optimism (OP) tokens left with them. In an on-chain message, the unknown …

Osmosis validator FireStake admits it drained $2 million during Osmosis exploit

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Quick Take FireStake is one of the validators of the Osmosis blockchain. Despite this, it admitted to taking advantage of Osmosis’ recent exploit to drain $2 million of funds. After a $5 million exploit on Osmosis on Wednesday, one of its network validators called FireStake came forward to admit that they were responsible for draining $2 million of it. Osmosis is a blockchain that runs a large decentralized exchange (DEX) in the Cosmos ecosystem. The project suffered losses due to …

Aurora Labs pays $6 million reward to hacker that saved 70,000 ETH from getting stolen

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Quick Take Aurora Labs rewarded $6 million to a white hat hacker who reported a bug through Immunefi. It said that the hacker detected a vulnerability that put over 70,000 ETH at risk. Aurora, an Ethereum compatible blockchain on the NEAR Protocol, paid a $6 million bounty reward to an ethical hacker known as pwning.eth, who discovered a critical vulnerability on the network in April.  The vulnerability was reported through the bug bounty platform Immunefi, and was patched before any …

Reuters report says Lazarus Group used Binance to launder stolen funds

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In September 2020, hackers from the North Korean Lazarus Group broke into Slovakian crypto exchange Eterbase and stole currency worth roughly $5.4 million. Using only encrypted email addresses, the hackers opened at least two dozen anonymous accounts on Binance and used them to “convert the stolen funds and obscure the money trail,” according to a new Reuters investigation. According to the report, the interactions between the exchange and the well-known state-sponsored hacking group are part of a much larger picture …

SEC is investigating Binance’s BNB token: Bloomberg

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The Securities and Exchange Commission (SEC) is reportedly investigating whether Binance’s BNB token was a security at the time of its sale in 2017. Bloomberg reported Monday that the SEC has launched a probe into the BNB token. The US securities regulator is taking a look at the early days of the exchange, examining whether the sale of its BNB token during a 2017 initial coin offering amounted to an unregistered sale of securities. SEC chair Gary Gensler has been …

Pseudonymity startup Big Whale Labs raises $3.8 million seed round 

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Big Whale Labs, startup building a social protocol to facilitate pseudonymity through zero knowledge and crypto, announced on Wednesday it has raised $3.8 million in a Seed round. The round was led by M13 and Road, with participation from Slow Ventures, C2, Goodwater, Panache, NFR, and angel investors Balaji Srinivasan (ex-CTO of Coinbase) and Roman (founder of Tornado Cash), along with others. The social protocol lets people better manage their interactions online and aims to build trusted relationships through verifiable …

A $90 million DeFi exploit on Terra went unnoticed for seven months

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In October 2021, DeFi application Mirror Protocol succumbed to a $90 million exploit on the old Terra blockchain — and it went completely unnoticed until last week. Mirror protocol allowed users to take long or short positions on tech stocks using synthetic assets. It was built on Terra, which collapsed earlier this month after its main stablecoin lost its peg to the US dollar, dragging its sister token Luna down with it. (The blockchain has now been revived as Terra …

Why this 59-year-old security firm thinks your crypto belongs in its vault

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Quick Take The Block got a tour of Malca-Amit’s London vault, where it’s starting to embrace crypto custody by storing cold wallets. The firm sees an opportunity as less than 1% of the global crypto market is currently insured. This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

Wormhole announces $10 million bug bounty payout

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Crypto bridge Wormhole paid out a massive $10 million to a white hat hacker who disclosed a bug in its core bridge contract on Ethereum in February. That person goes by the pseudonym satya0x, per an announcement from Immunefi, which partnered with Wormhole in hosting its bug bounty platform. Wormhole announced the program back in February, shortly after losing close to $323 million in ETH to a hacker, in one of the largest exploits of a DeFi protocol to date. …

Certora Announces $36 million Series B funding round led by Jump Crypto

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Certora, an Israel-based company that provides security analysis tools for smart contracts, announced it has raised $36 million in a Series B round led by Jump Crypto. The round featured participation from Tiger Global, Galaxy Digital and existing Series A investors, including Electric Capital, ACapital, Framework Ventures, Coinfund, Lemniscap, Coinbase and VMware, according to a statement on Tuesday. Certora enables smart contract developers to detect mistakes before deploying code post audits. DeFi protocols including Aave, Balancer, Compound Finance, MakerDao, Sushi and others use Certora to protect …