This Week's Crypto Hack Weekly Report: From Defi Platform Hacks to Celebrity Account Exploits

This week’s Crypto Hack Weekly Report brings to light the latest hacks and vulnerabilities shaking the crypto world. From breaches in prominent platforms

Fresh from the scene of the latest crypto hacks and vulnerabilities, we bring you the Crypto Hack Weekly Report. This week, a defi platform fell victim to a $1.96 million exploit, a major crypto exchange website was compromised, and a celebrity's Twitter account was hacked to promote a scam token. Get the full details below.

1 Dough Finance Issues Ultimatum After $1.96 Million Exploit

Adding to the recent string of crypto platform breaches, Dough Finance encountered a hack on July 12, 2024. An unidentified hacker exploited a vulnerability in the platform's smart contract, making away with approximately $1.96 million.

In response to the breach, Dough Finance issued an on-chain message, demanding the hacker to reach out via email and return the stolen funds to a specified address by July 15, 2024, at 23:00 UTC. The team stated that failure to comply would prompt them to pursue legal actions to recover the lost assets.

2 Compound Finance Website Compromised

Michael Lewellen, serving as the security advisor for Compound DAO, disclosed that the official Compound Finance website (compound.finance) had been hacked. The breach caused the site to display a phishing page, attempting to steal user information.

Lewellen wasted no time in urging the crypto community to refrain from interacting with the site to safeguard their assets. While the precise attack method remains unclear, the incident serves as a reminder of the continuous threat posed by domain compromises targeting high-profile crypto platforms. The team regained control of the website and implemented additional security measures.

3 Doja Cat’s Twitter Hacked to Promote Meme Coin

The crypto community's trust in celebrity endorsements wavered as Doja Cat's Twitter account, boasting 5.3 million followers, was compromised. The hacker used the account to promote the meme coin $DOJA, posting a tweet urging followers to “buy $DOJA or else,” accompanied by a link to a Solana wallet and an image of Doja Cat adorned in a chainmail hood.

Doja Cat promptly alerted her Instagram followers to the hack, but the damage had already been inflicted. The $DOJA token experienced a brief market cap surge to $1.65 million before plummeting by 96%. This incident aligns with a concerning trend, where celebrity accounts are being hijacked to promote scam tokens, mirroring past attacks involving Hulk Hogan and Metallica. These scams not only harm the celebrities but also inflict substantial financial losses upon their followers.

Stay Safe Out There Folks!

When it comes to social media accounts, be vigilant about privacy concerns, avoid clicking on suspicious links and messages, and stay informed on the latest crypto trends, particularly in the realm of security. Together, we can forge a stronger and safer crypto space.