The post Crypto Hack Weekly Report: DeFi Double Trouble & A $70M Phishing Attack appeared first on Coinpedia Fintech News
29th April to 4th May 2024
This week has been particularly eventful in the crypto world, marked by significant hacks that have been felt throughout the community. From Pike Finance’s second breach in just a few days to a trader’s unfortunate loss due to a phishing scam, the landscape of crypto security has once again come into focus.
There’s still a lot to be learned from an unfortunate situation. Here’s what went down.
A Detailed Recap
1. Pike Finance Suffers Double Attack
Pike Finance, a notable DeFi lending platform, faced its second exploit within a short span of three days, resulting in a substantial loss of $1.68 million across Ethereum, Arbitrum, and Optimism networks.
The attacker exploited critical flaws in Pike Finance’s smart contracts, gaining control over the protocol’s output address. This orchestrated move led to the tra
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