As the crypto market continues to experience exponential growth, unfortunately, it also attracts the attention of malicious actors seeking to exploit vulnerabilities. In this blog post, we will highlight some recent hacking incidents that have caught the attention of PeckShield, a leading cybersecurity research firm in the crypto space.

1. God Of Wealth ($GOW39) Rug Pull Incident:
Address 0xCC78…f66C swapped a significant amount of $GOW39 (117,748,562,677,194.97) for 205,722 $BSC-USD tokens. Notably, the rug-pull token bears the same name as a legitimate project, raising concerns about the potential confusion for investors.

2. Liquidation of Address 0x9dbe…0a53:
Address 0x9dbe…0a53 was liquidated, resulting in the repayment of 490.42K $DAI and 245.15 $WETH. Liquidations can occur when users fail to meet their debt obligations in decentralized lending platforms, leading to the seizure of their collateral.

3. Phishing Incident and Bridging to Arbitrum:
A phisher under the pseudonym “Fake_Phishing187019” managed to phish 10.8 $WBTC (worth approximately $388,000) from victim address 0x9e96…7C23. The attacker then swapped the stolen funds for 200 $ETH before bridging them to the Arbitrum network, likely to obfuscate the traceability of the stolen assets.

4. FTX-labeled Address Transfer to Binance:
An address that appears to be affiliated with FTX exchange transferred 250k $SOL (worth around $10.9 million) to Binance. The current $SOL balance of approximately 1 million $SOL (equivalent to $43.4 million) raises questions about the motive behind this transfer.

5. CoinSpot Wallets Drained:
ZachXBT (@zachxbt) shared that CoinSpot wallets reportedly lost around $2 million worth of $ETH (~1,282 ETH). The suspected attacker, address 0x326d…89B8, subsequently bridged approximately 831 $ETH for 41 $BTC via Thorchain and swapped 451 $ETH for 24 $WBTC.

6. Tether Transfer incident:
Address 0xE982…e634 transferred 270K $USDT to Tether: USDT stablecoin. While the intentions behind this transaction are unclear, large transfers can sometimes be an indication of illicit activities or a personal investment strategy.

These recent hacking incidents highlight the ongoing challenges faced by participants in the crypto market. Investors and users must remain vigilant and exercise caution in handling their assets. It is crucial to perform due diligence, especially when dealing with unfamiliar projects or transferring funds. As the crypto market evolves, it is expected that security measures and regulations will also improve to mitigate these risks better.