hacks / 3 posts found

Hackers Exploit Apps To Steal Digital Assets. Here’s How To Stop Them.

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Scams like rug pulls are widely discussed in the NFT space. However, there are other ways that users can be exploited that deserve attention. Smart contracts that run on blockchain technology are typically considered more difficult to take advantage of, as they have a smaller attack surface than web applications. However, since we need a web application to access smart contract functionality, security issues in these areas could lead to an exploit. Put plainly, to access your NFTs and crypto, you still need to go on the internet and buy or sell these assets via a website like any other. […]

The White House Just Released a Framework for Regulating Digital Assets

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The Alpha: Early in September 2022, the White House published a report calling for more sustainable practices across the blockchain industry. Now, the White House has offered solutions in the form of a comprehensive framework centered around the “responsible development of digital assets.” This framework outlines the actionable next steps that will be taken, which include things like: Regulators scaling up investigations into digital asset market misconduct, redoubling their enforcement efforts when it comes to existing rules and regulations, and strengthening interagency coordination. The Financial Literacy Education Commission leading public-awareness efforts to help consumers understand the risks involved with digital […]

Nomad Offers Hackers a Chance at Redemption, Entices Them With NFTs

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The Alpha Following the discovery of a security loophole in crypto bridge Nomad’s systems, hackers stole more than $190 million in crypto on August 1. Nomad issued a 10 percent bounty for its stolen funds as part of its damage control efforts. Should a hacker return 90 percent of their stolen crypto, they’re entitled to keep the rest. Nomad also promises not to pursue legal action against these ‘white-hat’ hackers. In partnership with Metagame, Nomad is now also offering NFTs to remorseful hackers, if they return stolen crypto. Why it matters Community reception to Nomad’s announcement has been mixed. If […]
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