Crypto Rug Pull Losses Outpaced DeFi Exploits in May: Report
The largest exit scam in May was executed by Fintoch, which absconded with users' funds worth $31.6 million.
The largest exit scam in May was executed by Fintoch, which absconded with users' funds worth $31.6 million.
Some users blamed the wallet provider that they had funds stolen from their accounts in the past as well.
The team behind the protocol was reportedly looking to get in touch with the exploiter.
The two main factors for this are believed to be increased scrutiny, blacklisting, and increased attention from law enforcement.
It will increase enforcement in Defi and bridge chain exploitations, a 'significant issue' due to state-sponsored actors perpetrating these crimes.Â
Anne Neuberger said the US government is committed to identify North Korean crypto hackers and trace the stolen digital assets.
Prosecutors said he used his sophisticated technological prowess, such as SIM Swap and Cyberstalking, for malicious purposes.
The $25 million MEV bot attack and the $22 million Bitrue exploit were some of the major incidents in the
Merlin’s exploit was carried out by its bank-end developer team after they manipulated the protocol’s contracts and web host.
Merlin’s liquidity pool has been drained of $1.8 million not long after blockchain security firm CertiK audited its code.Â