Cyvers in the News

Crypto thieves score big on centralized services, private keys in 2024

^{The centralized finance (CeFi) sector was hit particularly hard, “experiencing a nearly 1,000% year-over-year increase in incidents,”} Web3 cybersecurity firm Cyvers told Cointelegraph.

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Cyver s’ co-founder and chief technology officer, Meir Dolev, and the firm’s senior blockchain scientist, Hakan Unal, emphasized the importance of adopting advanced security strategies, such as real-time threat detection, crosschain monitoring and preemptive prevention measures to mitigate these rising risks. “

^{"Emerging threats like AI-driven attacks and quantum vulnerabilities highlight the need for proactive measures and stronger regulatory oversight to protect digital assets.”}

South Korea’s Upbit Refunds 8.5 Billion Won To Crypto Fraud VictimsCrypto safety received a major boost in South Korea after the largest crypto exchange, upbit.co.kr/, announced reimbursements of 380 victims who had been defrauded through voice phishing in the amount of 8.5 billion won ($6.07 million). It shows how the exchange has stepped up efforts in cooperation with law enforcement agencies to combat cyber fraud.

Crypto Exchange M2 Reports $13.7 Million Hack in Security Breach

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^{The trouble was first noticed by Cyvers Alerts,} that found suspicious transactions involving M2 on three major networks: Ethereum (ETH), Solana (SOL), and Bitcoin (BTC).

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After spotting something unusual, ^{Cyvers tried reaching out to M2 but didn’t get a response at first.} M2 later confirmed that something was wrong and explained what happened.

^{According to Cyvers , the suspicious address collected about $3.7 million} in USDT, 97 million in SHIB, and 1,378 ETH. The hacker then swapped everything into Ethereum and left about $10 million on the Ethereum blockchain.

Cyvers even shared the address for those following the case on Etherscan.