Cyvers in the News

DeFi Platform UwU Lend Undergoes Cyber Attack: $19.5 Million Lost

^{The Web3 security firm Cyvers identified and reported this alarming incident.}

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As of this writing, the platform is still under attack. In an interview with BeInCrypto,

Cyvers co-founder Meir Dolev shed light on the incident:

“The UwU lending contract was exploited by an attacker that executed 3 transactions in 6 minutes and drained approximately $20 million. Attacker was funded from Tornado cash 2 days ago,” Dolev told BeInCrypto

UK crypto exchange stops trading after $22m is lost in ‘security incident’

Most of the biggest hacks this year have been due to private key leakage ―^{a security problem identified by cybersecurity outfit Cyvers as a potential major concern for crypto companies.}

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Last year, ^{Cyvers’ research revealed} that 85% of the $900 million stolen from exchanges, bridges and DeFi protocols in the latter half of the year were due to private key leakage.

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^{Cyvers co-founder Meir Dolev} previously told DL News the problem could become more endemic to crypto if industry participants did not adopt safety measures.

CoinGecko confirms email provider data breach, over 23,000 phishing emails sent

To safeguard from phishing emails, users should double-check the email’s authenticity and ensure they have two-factor authentication (2FA) on crypto platforms, ^{according to Hakan Unal, senior blockchain scientist at on-chain security firm Cyvers.} He told Cointelegraph:

“The immediate concern is the risk posed to individuals who might receive these compromised emails. To stay safe, users should verify the authenticity of such emails and enable multifactor authentication on all crypto accounts.”