Features Crypto News by Thebittimes.Com

Phishing group Angel Drainer has started using a new attack vector , targeting re staking platform s, analysts at Blockaid alarm. Blockaid’s analysts have discovered a new attack vector performed by the Angel Drainer group, using a protocol to carry out an approval farming attack via the “queueWithdrawal” function. In an X thread on Feb. 1, Blockaid shared affected wallet addresses, adding it is implementing a fix to safeguard users. ️ Emerging web3 attack vector : Restake Farming ️ Angel Drainer group has introduced a new attack vector utilizing a protocol to execute a novel form of approval farming attack through the 'queueWithdrawal' mechanism. (1/6) pic.twitter.com/sYVu6iCfBh — Blockaid (@blockaid_) February 1, 2024 Restaking rewards, introduced by EigenLayer, provide Ethereum (ETH) stakers with new tokens. These tokens can be restaked in other decentralized applications, preserving the option to participate in protocols’ governance....

Ethereum’s co-founder, Vitalik Buterin, has shed light on the unsettling breach of his X (Twitter) account , attributing it to a SIM-swap attack . Sharing his experience on Farcaster, a decentralized social media platform, on Sept. 12, Buterin recounted his ordeal. He stated that the hacker manipulated T-Mobile, the telecommunications service provider, to seize control of his phone number. “Yes, it was a SIM swap, meaning that someone socially-engineered T-mobile itself to take over my phone number.” Vitalik Buterin, co-founder of Ethereum This sophisticated social engineering tactic allowed the hacker to reset the password of Buterin’s X account , even without utilizing it as a two-factor authentication (2FA) method. The Ethereum (ETH) magnate has regained control of his T-Mobile account and urged users to consider removing their phone numbers from X (Twitter) to enhance security. He acknowledged that he had previously encountered advice against using ph...

CertiK’s security chief thinks inexperienced programmers using AI tools such as ChatGPT to write smart contracts is a recipe for disaster. Artificial intelligence tools such as OpenAI’s ChatGPT will create more problems, bugs and attack vectors if used to write smart contracts and build cryptocurrency projects, says an executive from blockchain security firm CertiK. Kang Li, CertiK’s chief security officer, explained to Cointelegraph at Korean Blockchain Week on Sept. 5 that ChatGPT cannot pick up logical code bugs the same way that experienced developers can. Li suggested ChatGPT may create more bugs than identify them, which could be catastrophic for first-time or amateur coders looking to build their own projects. “ChatGPT will enable a bunch of people that have never had all this training to jump in, they can start right now and I start to worry about morphological design problems buried in there.” “You write something and ChatGPT helps you build it but because of all these des...