Cyvers in the News

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.”

DeFi protocols Sonne Finance and ALEX Lab lose over $24 million in separate hacks

The crypto projects have offered their attackers a 10% bounty to return the stolen funds.

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Decentralized liquidity provider Sonne Finance fell victim to a $20 million exploit on its Optimism network-based USDC and Wrapped Ethereum (WETH) contracts ,^{according to blockchain security firm Cyvers}.

Sonne Finance Suffers $20M Exploit, Hacker Flees

On May 14, around 10:30 pm UTC ,^{Web3 security firm Cyvers ddetected an ongoing attack on Sonne Finance}’s USD and Wrapped Ether (WETH) contracts ,^{at the time they had only stolen $3M in cryptocurrency.}

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^{However, Sonne Finance only Became aware of the issue 25 minutes later}. By that time, they had already been drained of $20 million of WETH, Velo (VELO), soVELO, and Wrapped USDC (USDC.e).