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Over $20 million worth of seized stablecoins and Ethereum was transferred out of a wallet linked to the US government in what is being considered a theft. On-chain analytics firm Arkham Intelligence revealed that the attacker sent funds tied to the 2016 Bitfinex hack to a five-day-old wallet address. “$20M in USDC, USDT, aUSDC and ETH has been suspiciously moved from a USG-linked address,” it said in an Oct. 24 post  on X.  Hacker Starts Laundering The Government’s Funds Through Various Platforms Shortly after the transfer out of the government’s wallet, the hacker started converting the stablecoins into ETH through addresses likely associated with a money-laundering service, according to Arkham Intelligence. funds are going to instantly exchanges looks nefarious — ZachXBT (@zachxbt) October 24, 2024 On-chain sleuth ZachXBT said that some of the funds have also been moved to instant exchanges. One of these platforms sources its liquidit...

Manta Network, a layer-2 blockchain developed by P0xeidon Labs, has successfully mitigated a large-scale distributed denial-of-service (DDoS) attack . The already-resolved incident coincided with the network’s token debut on several major exchanges. Kenny Li, co-founder of P0xeidon Labs, reported on Jan. 18 that the blockchain faced an unprecedented 135 million remote procedure call (RPC) requests. Describing the event as “a very aggressive and timed attack ,” Li assured that the blockchain operations remained secure and all funds were safe. However, he cautioned that communication between applications and the blockchain was temporarily hindered. Number of network events chart | Source: X You might also like: Manta Network addresses RPC flood, amidst MANTA airdrop hype Rest assured, we are not going anywhere. We have built for three years, and we see no end in sight. Thank you so much for your support as a community. Kenny Li This DDoS attack occu...

Oliver Hörr, Director of Operations at smart bounty marketplace Hats Finance, shared valuable insights at the ETHBarcelona conference on launch ing project s without the risk of being hacked , proposing innovative solutions to code auditing, and encouraging ethical hacking. In his speech, Hörr addressed the challenges of selecting auditors for web3 projects, highlighting the high costs and difficulty verifying their track records. To overcome this, he proposed two solutions. The first involves auditors having a “skin in the game” by allocating a portion of their payment into a bug bounty, sharing the project’s risk. This approach allows projects to consider tier two and three auditors, offering better value for the price. The second solution focuses on improving code auditing by offering financial incentives to auditors. This encourages thorough code review and timely vulnerability notifications. Additionally, Hörr discussed conducting audit challenges or competiti...