Cyvers in the News

UPCX Suffers $70 Million Hack, Tokens Remain in Perpetrator’s Wallet

Cyvers crypto security firm traced the hack to a breach in the ProxyAdmin contract, executing a withdrawal function.

Cyvers, a crypto security firm that has tracked and uncovered several major crimes, identified a serious hack this morning. Multiple suspicious transactions took place involving UPCX’s management account, and the firm acknowledged suspicious activity. Cyvers showed the extent of the hack.

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Bybit exploit exposes security flaws in centralized crypto exchanges

^{According to Meir Dolev, co-founder and chief technical officer at Cyvers, the attack shares similarities with the $230 million WazirX hack and the $58 million Radiant Capital hack.} Dolev said the Ethereum multisig cold wallet was compromised through a deceptive transaction, tricking signers into unknowingly approving a malicious smart contract logic change.

Breaking: Bybit Exchange Hacked; $1.5 Billion in Crypto Lost

According to major Web3 analytics firms like ^{Cyvers Alerts and Arkham Intelligence, the alleged hackers exploited over 401,346 ETH tokens worth over $1.1 Billion in value along with other assets.} The security breach follows an earlier $1.5 billion suspicious activity alert issued by blockchain security firm ^{Cyvers Alerts, which had flagged unusual transactions involving Bybit’s wallet.}