Tag: Security

For cryptocurrency to achieve mass adoption, breaches that can be easily prevented — like the phishing attack that resulted in OpenSea losing $1.7 million — need to end. In February 2022, OpenSea fell prey to a major phishing attack that resulted in over $1.7 million in nonfungible tokens (NFTs) being stolen from users. It wasn’t the only incident: Blockchain…

The SEC was hoping to seek affirmation on an ambiguous injunction after scoring a victory during a hearing in November 2022, but judges made it clear that the judgment was only for the direct sale. The United States Securities and Exchange Commission (SEC) admitted on record that the sale of LBRY Credits (LBC) tokens in…

Building an interoperable network of blockchains dedicated to a specific purpose appears to be a viable alternative to layer-2 scalability solutions. App-specific blockchains, or appchains, are specifically designed to support the creation and deployment of decentralized applications (DApps). In an appchain, each app runs on its separate blockchain, linked to the main chain. This allows…

The toolkit will allow for creators of sidechains to choose their own consensus mechanism and other application-specific features, whilst inheriting the security of the main chain. Input Output Global (IOG) — the team behind the Cardano ecosystem — will release a software toolkit in late Jan. 2023 that will enable developers to deploy custom-built sidechains…

The deal has received initial approval from the bankruptcy judge but will require the approval of creditors and final court approval. Bankrupt crypto lender Voyager Digital has received initial court approval for its proposal to sell its assets to Binance.US for $1.02 billion. The approval comes amid a national security probe concerning Binance.US that Voyager…

SlowMist found that across 303 recorded blockchain security incidents in 2022, nearly a third were made up of phishing attacks, rug pulls and scams. Blockchain security firm SlowMist has highlighted five common phishing techniques crypto scammers used on victims in 2022, including malicious browser bookmarks, phony sales orders and trojan malware spread on messaging app…