IT hackers infiltrate crypto projects, steal $1 million

IT hackers infiltrate crypto projects, steal $1 million


Hackers posing as legitimate information technology (IT) workers who have infiltrated Web3 projects have stolen roughly $1 million in crypto during the past week, according to onchain investigator and cybersecurity analyst ZackXBT.

Several entities were impacted including Favrr, a Web3 fan-token marketplace, non-fungible token (NFT) projects Replicandy and ChainSaw, along with other teams the onchain sleuth did not name in his Friday X post.

The hackers exploited the minting mechanism for the NFT projects, minting mass quantities of NFTs, selling them, and causing the price floor to drop to zero while they extracted profit, ZackXBT said.

Tracing the funds from the exploit. Source: ZackXBT

Following the exploits, the threat actors transferred the stolen funds through exchanges and multiple wallets. The funds from the ChainSaw hack “mostly remain dormant,” while the stolen crypto from Favrr was transferred to nested services, the onchain detective said.

Binance

Infiltration of crypto and blockchain projects by malicious software developers continues to be a problem in the industry, causing financial losses to users and undermining the efforts of software development teams worldwide.

Related: ZachXBT slams Bitcoin bridge Garden Finance for laundering hacked funds

Companies worldwide facing security threats from the inside

In November 2024, cybersecurity researchers identified a team of hackers with ties to the North Korean government known as “Ruby Sleet” infiltrating aerospace and defense contractors in the US.

The researchers also found the hackers associated with this cybercrime syndicate began targeting information technology firms as well, infiltrating the organizations, setting up fake recruitment initiatives, and targeting these companies with social engineering scams.

Crypto exchange Coinbase said it was the victim of a data leak and a subsequent extortion attempt in May 2025.

External threat actors bribed several Coinbase customer service contractors to steal account data from a swath of clients and hand it over to be used as leverage in an attempt to extract a ransom from the exchange.

An estimated 69,461 Coinbase users were impacted by the data breach, and had personal details such as addresses, telephone numbers and other identifiers leaked, according to the Latham and Watkins law firm.

Magazine: China threatened by US stablecoins, G7 urged to tackle Lazarus Group: Asia Express



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

CryptoKorner
Coinbase
CryptoKorner
IT hackers infiltrate crypto projects, steal $1 million
Binance
Coinmama
Dragonfly Capital Faces DOJ Threat Over Tornado Cash Ties
XRP Ledger at Core of VERT’s Strategy for $500M in Tokenized Private Credit Pipeline
MARA Holdings Announces $950 Million Convertible Notes Offering
Online Pastor Indicted for $3.4M Crypto Scam
DYDX Price Holds Above $0.67 Despite 4.6% Drop as Network Upgrades Show Technical Strength
Ethereum (ETH) Drives Record $4.39bn Weekly Inflows in Digital Asset Products
bitcoin
ethereum
bnb
xrp
cardano
solana
dogecoin
polkadot
shiba-inu
dai
Free book
Bybit
Ethereum Price Nears $4,000 as ETH Weekly Close Looms Large
Hive Digital Technologies Rings Nasdaq Closing Bell, Eyes $100M HPC Growth
Tea App That Claimed to Protect Women Exposes 72,000 IDs in Epic Security Fail
Shengjia Zhao named Meta Superintelligence Chief Scientist
Dragonfly Capital Faces DOJ Threat Over Tornado Cash Ties
Ethereum Price Nears $4,000 as ETH Weekly Close Looms Large
Hive Digital Technologies Rings Nasdaq Closing Bell, Eyes $100M HPC Growth
Tea App That Claimed to Protect Women Exposes 72,000 IDs in Epic Security Fail
Shengjia Zhao named Meta Superintelligence Chief Scientist
ar
zh-CN
nl
en
fr
de
it
pt
ru
es
en
bitcoin
ethereum
xrp
tether
bnb
solana
usd-coin
dogecoin
staked-ether
cardano
bitcoin
ethereum
xrp
tether
bnb
solana
usd-coin
dogecoin
staked-ether
cardano