Cyvers in the News

Exploits and hacks returned with the general recovery of DeFi projects. The latest registered exploit took $12M from Cork Protocol.

Cork Protocol lost $12M due to a malicious smart contract, with outflows intercepted by Cyvers Alerts. Hacks against DeFi and DEX platforms accelerated in the past week, tapping the growing liquidity.

Cork Protocol falls victim to $12m exploit, 3,760 wstETH stolen

According to the blockchain security firm Cyvers, the attacker deployed a malicious contract with an address funded by 0x4771…762B. Cyvers claims that this address likely belongs to a service provider, which means a DeFi protocol, exchange, or a bridge that Cork Protocol was using.

Quite the opposite, criminals are embracing blockchain more as a feature than a bug

A report from Web3 security company Cyvers says the victim was scammed twice in three hours and lost $2.6 million worth of Tether’s stablecoin (USDT).