First AVAX Blockchain Exploit⚠️

Hashing Bits | Week37

NowSwap Hacked for $1M

NowSwap, a DEX protocol, was hacked for $1M in 535,000 USDT and 135 WETH. Stolen USDTs were converted toEthereum using 1 Inch and then to Tornado Cash. The attacker used an invalid 'K' value check in the NoSwap pair smart contract.

Sushiswap’s Token siphoned off for $3M

Sushiswap’s token launchpad, MISO, was hacked. The hacker stole 864.8 in Ethereum or $3M (Approx.)

The Miso front end has become the victim of a supply chain attack. An anonymous contractor by with the GH handle AristoK3 injected malicious code into the Miso front end. We have reason to believe this is @eratos1122.

864.8 ETH was stolen, address below https://t.co/cDZeBqFV4P

— Joseph 🤝 Delong 🔱 (@josephdelong)
September 17, 2021

Arbitrum down - Txns Hold for 45 mins

Arbitrum, an Ethereum layer-2 scaling platform was down for 45 minutes due to a sequencer bug, which prevented transactions from taking place.

Solana down for 16 hours

The beta version of the public main-net of Solana was reported to be down for 16 hours due to transaction overload. The network was successfully restarted later by the Solana validator community.

Zabu Finance Hacked for $3.2M

Zabu Finance, a DeFi project on Avalanche (AVAX) blockchain, was exploited for 4.5B ZABU tokens from the Zabu farm contract. The attacker deployed a malicious smart contract and interacted with the main Zabu contract to steal funds.

Vulnerability Write-ups

Arbirtum One Outage Report by Offchain Labs.

Brief Analysis of Zabu Finance Attack by SlowMist Team.

DeFi Security

[White paper] 

Improving security for users of decentralized exchanges through multiparty computation by Robert Anness and Ethan Fast.

How to Get a Bigger Bounty by Optimizing Attack Parameters by Immunefi.

How to Stay Safe in DeFi tech workshop by Rex Hygate with Binance Smart Chain.

Understand the Security Risk of Blockchain by Binance.

DeFi in Numbers

More From Editor’s Desk

Of late, with the rapid speed of advancement in technology, NFTs have become a revolutionary trend in the blockchain market. Headlines about NFTs have become commonplace, and it’s clear that this cryptographic asset is here to stay. 

In March 2021, the NFT of ‘Everydays: The First 5000 Days’, an artwork by the digital artist Beeple, was sold at $69m, the most expensive NFT at the moment. Now, more and more items are being sold as NFTs, and it’s high time businesses at large jump in on this bandwagon.