Long story short. New stage for Hackless is coming 🔜 One more step for Hack Less #DeFi. Follow our new Twitter page to find more and not miss future updates
>>>> @hackless_defi <<<<
#OneHackLess 👾
#Jimbos Protocol 👨💻, an #Arbitrum -based protocol, was #exploited for 4,090 $ETH worth around $7.5 million 💰 just 3 days after launching its #v2 protocol.
The attacker used a #flashloan to temporarily swap $WETH for $JIMBO tokens, raising the $JIMBO price. This allowed them to add a small amount of $JIMBO to gain access to the JimboController contract. They then called the shift function, removing the existing #liquidity in the contract.
Here's another reminder that projects must implement adequate preventive measures to avoid exploitation, such as using products that are built by #Hackless, monitoring all suspicious activity, and helping users migrate their #funds if needed.🚦
The holder of the address '0xae' attempted to swap $ETH for $RFD, but fell victim to a #sandwichattack, resulting in a loss of $872.71 😔, which is significant given their 10,647 $ETH ($19,377.77) swap. 💸
It is unfortunate to see people fall victim to these types of attacks, but there are measures that can be taken to protect yourself. Use our FREE #AntiSandwich tool available at antisandwich.hackless.io/ 🔒💰
We are happy to announce that @AndreyArshukov, will be at the 2nd edition of @SpaghettEth in 🇮🇹
Ready for 3 action-packed days of networking and cutting-edge web3 innovation at the first mega ETH event in 🇮🇹🍕
📅 24-26 May
📍Via Portacarrese a Montecalvario, 69, Napoli 🇮🇹
#OneHackLess 👾
#Swaprum , a #decentralized exchange on the #Arbitrum Layer-2 network, was #rugged as $3M in user funds disappeared, followed by a price crash of its token, $SAPR. This was a classic #rugpull by the developers.😔
The attackers used a backdoor add() function to steal #LPtokens staked by users, then removed liquidity from the pool for profit and finally laundered 1,620 $ETH (worth $3M) via #TornadoCash.💸💸💸
Despite being recently audited by @CertiK, the project's developers upgraded their normal liquidity reward contract to one with backdoor functions. This added to criticism of #CertiK, who have come under fire for auditing multiple projects that later turned out to be #scams.
The #Swaprum rug pull serves as a reminder of the risks of decentralized exchanges and the limitations of even comprehensive third-party #audits.😱
Users of #DeFi platforms should remain vigilant and take extra steps to mitigate risks, by making use of enhanced security monitoring tools offered by companies like #Hackless to monitor for threats, isolate compromised smart contracts, and safely migrate users' funds during incidents.🔒💻🚨
We are thrilled to announce that our #CEO, @SerhiiAndrosiuk, will be speaking at DAYZERO, the first major Ethereum event in Ukraine. He will be speaking about Blockchain and DeFi and sharing insights on growing our cybersecurity service, #Hackless. 💚
Take a look behind the scenes, listen to other notable figures in the crypto space, and have the opportunity to network with industry leaders.
📅 Date: Saturday, May 20
⏰ Time: 10:30 am - 10 pm EEST
📍 Location: UnitCity campus B12, UNIT.Verse hall
#OneHackLess 👾
@DeusDao, a #decentralized finance protocol, has been #hacked for the third time, resulting in losses of approximately $6.5M on #Arbitrum, #BSC, and #Ethereum. The DEI stablecoin also #depegged over 80%.
👉 The root cause of the #hack was an implementation error in the $DEI #token contract, which allowed an attacker to manipulate and gain control of $DEI holders' approvals and transfer assets directly to their own address.
💸 Although they have managed to retrieve over $5.5 million, including all #LP deposits, there were doubts about returning funds to a team that produced such a trivial bug. Therefore, new monitor tools and asset protection against failures in #smartcontracts are needed. This is where #Hackless comes in to help. Stay tuned for more info!
Recent incidents token #rug pull highlight the risks of #meme #coin fever, with #pre-sales, limited #bots, and hidden #wallets leading to significant losses.
But with #Hackless' upcoming #RugPull protection, DeFi protocols can prevent insiders from withdrawing critical funds and avoid devastating losses. Stay tuned for more updates on this essential DeFi security tool.
