Cyvers in the News

Defi platform on Base network experiences $2m hack

^{‍According to web3 security firm Cyvers, the breach occurred on Grand Base’s deployer wallet,} as the attacker gained full privileges to mint the defi protocol’s native token, GB. Following the breach, the price of Grand Base plummeted nearly 99%.

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DeFi Protocol Grand Base Hacked: Over $2 Million Lost

^{Analysts at AI Web3 security firm Cyvers told BeInCrypto the criticality of the situation}. They noted that the attacker’s ability to mint new tokens magnified the financial damage and exposed severe security flaws.

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“The compromised deployer’s wallet losing access control raises concerns, emphasizing the urgency for heightened security protocols and vigilant monitoring to safeguard against such devastating losses in the future,” analysts at Cyvers emphasized.