Cyvers in the News

Real World Assets Need Real-Time Security: Cyvers CEO

Blockchain technology is causing a seismic shift in how we think about asset ownership and investment. The ability to “tokenize” real-world assets (RWAs) such as real estate, art, commodities, and intellectual property has tremendous disruptive potential.

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^{Deddy Lavid, CEO at AI Web3 security firm Cyvers}, told BeInCrypto that failing to implement robust safeguards could expose investors to undue risks and liabilities and curb the impressive growth of this booming market.

BNB Chain Hit by $80K Bitcoin Theft

A recent suspected exploit on the BNB Chain led to the theft of around $80,000 worth of Bitcoin (BTC) through several suspicious transactions. The identity of the token contract involved remains undisclosed, and speculation suggests that the perpetrator could be a white-hat hacker, ^{as noted by on-chain security firm Cyvers.}

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^{According to on-chain security firm Cyvers}, the exploited token contract remains unidentified, but the attacker’s actions suggest they might be a white hat hacker.

In a May 28 post on X, Cyvers noted that the attacker received funding through the cryptocurrency mixing service Tornado Cash, commonly used by malicious actors to hide the origin of their funds.

BNB Chain exploited for $80K of fake BTC tokens

While the exploited token contract is still unknown, the attacker could be a white hat hacker, or ethical hacker, who uses his skills to find security vulnerabilities, ^{according to on-chain security firm Cyvers. The firm wrote in a May 28 X post:}

“The total loss is approximately $80K. The attacker received funding via TornadoCash and has also interacted with the Binance exchange, indicating a possible white hat action.”