Cyvers in the News

WazirX $235 Million Hack: North Korean Hackers Suspected Behind Heist

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According to security platform ^{Cyvers, which flagged multiple suspicious transactions from the platform,} hackers moved over $234.9 million worth of funds from WazirX to a new address. The security firm noted that transactions from crypto mixing service Tornado Cash initiated the hack, highlighting potential concerns about the source of the funds.

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^{Cyvers reported that the address linked to the hackers} had begun converting PEPE, GALA, and USDT into Ethereum. The security firm confirmed active swapping of other assets as well.

LiFi Protocol Under Attack with Over $10 Million Drained

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^{According to reports from Cyvers Alerts}, the breach involved suspicious transactions targeting the Li.Fi protocol through a specific contract address.

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Meir Dolev, co-founder and Chief Technology Officer at Cyvers, emphasized the risk of such approvals, stating,

“Hackers can exploit these approvals to drain both assets stored in the contracts and funds in the connected wallets of users.”

LiFi Protocol exploited for $10 million, warns users to avoid platform

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On July 16, ^{Cyvers Alert reported suspicious transactions involving a LiFi smart contract.}

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^{Meir Dolev, co-founder and chief technology officer at Cyvers, told CryptoSlate:}

“The incident highlights the dangers of giving wallet approvals to smart contracts. It’s crucial for protocols to stay alert, as hackers can take advantage of these approvals to steal both assets in the contracts and funds in users’ connected wallets.”