NFT News Today Official TheBitTimes.com

According to blockchain security analysts, the developers of the Safereum project suddenly sold more than 700 ETH worth of its native token, sending the price of SAFEREUM plunging more than 90%. The crypto community has been left fearing the worst after seeing huge sums of liquidity drained from the cryptocurrency project Safereum just hours after its team had finalized a massive $600,000 fundraising. According to blockchain security firm CertiK and other analysts, the developers of Safereum — using the token deployment address “safereum.eth” — unlocked the supply of the token and dumped more than 600 Ether (ETH) worth of its holdings, causing the price of the Safereum (SAFEREUM) token to plunge more than 94%. #CertiKSkynetAlert We can confirm that @Safereumio has conducted an exit scam for ~$1.3m Eth: 0xb504035a11E672e12a099F32B1672b9C4a78b22f safereum.eth unlocked Safereum token s and sold. Additionally ~$597k was raised for the project’s SAFEPAD token .https://t.co/aAxjcEmdcH ...

Blockchain security firms SlowMist and CertiK also believe the crypto wallet drainer Angel Drainer was involved in the estimated $238,000 exploit. The team behind Balancer, an Ethereum-based automated market maker, believes a social engineering attack on its DNS service provider was what led to its website ’s frontend being compromised on Sept. 19, leading to an estimated $238,000 in crypto stolen. “After investigation, it is clear that this was a social engineering attack on EuroDNS, the domain registrar used for .fi TLDs,” the firm explained in a Sept. 20 X post. Approximately 8 hours after the first warning of the attack, Balancer said its decentralized autonomous organization (DAO) was actively addressing the DNS attack and was working to recover the Balancer UI. At 5:45 pm UTC on Sept. 20, Balancer said it was successful in securing the domain and bringing it back under the control of Balancer DAO. It also confirmed its subdomains “app.balancer.fi” and other “balancer.fi” are...

The attacker took advantage of the lack of slippage control of liquidity conversions to steal the funds. Adding to the existing number of protocol hacks in the crypto industry, Jimbos Protocol has not escaped the sights of the attackers as it has suffered an attack resulting in a loss of a large amount of funds. According to PeckShield, a blockchain security unit, Jimbos Protocol, the liquidity protocol of the Arbitrum system, was hacked on the morning of May 28. The attack resulted in the loss of 4,000 ETH, equivalent to approximately $7.5 million. Specifically, the attacker took advantage of the lack of slippage control of liquidity conversions. The protocol's liquidity is invested in a price range that doesn't need to be equal, creating a loophole where attackers can reverse swap orders for their own gain. Despite being launched less than 20 days ago, the Jimbos Protocol aimed to address liquidity and volatile token prices through a new testing approach. However, it appear...

The industry is likely to see “further attempts from hackers targeting bridges in 2023," while users are urged to be warier of their private keys. The new year is a fresh start for malicious actors in the crypto space and 2023 won’t likely see a slowdown in scams, exploits and hacks, according to CertiK. The Blockchain security company told Cointelegraph its expectations for the year ahead regarding bad actors in the space, saying: “We saw a large number of incidents last year despite the crypto bear market, so we do not anticipate a respite in exploits, flash loans or exit scams.” Regarding other ill-natured incidents the crypto community might face, the company pointed to the “devastating” exploits that took place on cross-chain bridges in 2022. Of the 10 largest exploits during the year, six were bridge exploits that stole around $1.4 billion. Due to these historically high returns, CertiK noted the likelihood of “further attempts from hackers targeting bridges in 2023.” Prot...

Investment firm Fidelity recently filed trademarks that showed its intentions to enter the NFT and metaverse space. In this week’s newsletter, read about investment giant Fidelity planning to enter the nonfungible token (NFT) space and how Italy’s NFT market will grow. Check out how North Korean hackers use phishing websites to target NFT holders and listen to a conversation with Crypto Raiders in the NFT Steez podcast. And, don’t forget this week’s Nifty News featuring Japanese gaming firm Square Enix investing millions in an NFT game developer.  Fidelity plans NFT marketplace and financial services in the metaverse On Dec. 21, investment firm Fidelity filed three trademark applications to the United States Patent Trademark Office. The trademark filings cover NFTs, NFT marketplace s and metaverse investment services, suggesting that the firm has plans to enter the space. One of the firm’s focuses appears to be the metaverse, showing that it may someday offer investment services w...