Cyvers in the News

Crypto Exchange M2 Confirms $13.7 Million Breach, Says Issue Resolved Within 16 Minutes

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In a statement shared with Bitcoin.com News, ^{Cyvers said the latest security incident highlights the growing vulnerability of both centralized and decentralized finance} platforms to attacks. However, the security firm noted that centralized finance platforms appear more susceptible, citing a 1,000% surge in the number of incidents compared to a 25% drop in losses for decentralized finance platforms during the same period.

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^{Cyvers pointed to the $305 million DMM hack and the $235 million Wazirx heist as examples} of the risks facing cryptocurrency exchanges. The firm urged these entities to adopt better strategies to protect users.

M2 Exchange - Rekt

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^{Cyvers ' AI sentinels were the first to spot} the darkness spreading, as multiple suspicious transactions slithered across ETH, SOL, and BTC chains.

Radiant Capital Suffers $50 Million Hack; Second Major Attack in 2024

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^{Cyvers Alerts first recognized this news,} detecting a series of suspicious transactions involving Radiant Capital on multiple chains.

^{Cyvers warned users} to avoid all interactions with Radiant until further notice.

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“It appears that the platform has suffered a private key compromise, leading to an ongoing attack. A malicious actor gained control of multi-sig wallets and has already drained over $50 million in user assets by exploiting the transferFrom function,” said Cyvers ’ alert.