Cyvers in the News

Li​.Fi protocol attacked, $10M drained

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^{According to Cyvers,} approximately $10 million in cryptocurrency holdings were drained, which also affected the Arbitrum blockchain.

^{Dolev told} Cointelegraph that “this incident underscores the risks inherent in granting wallet approvals to smart contracts.”

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^{Cyvers reported on the incident}, explaining that the attacker funded the attack through the zero-knowledge protocol Railgun and swapped the stolen USD  for Ether (ETH).

LiFi Protocol loses over $8M in a cyberattack

Holograph hack leads to $7M loss, HLG token dives 80%

^{Blockchain security firm Cyvers tracked part of the stolen funds, revealing the hacker's strategy} involving USDT, ETH, and privacy protocols.

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Blockchain security platform ^{Cyvers reported that some of the stolen tokens were swapped for the USDT stablecoin}, which the attacker used to acquire 300 ETH. Subsequently, the hacker distributed the funds to several addresses, including those linked to privacy protocols like Tornado Cash and Railgun.