The FBI is warning investors cyber criminals are increasingly exploiting vulnerabilities in decentralized finance (DeFi) platforms to steal cryptocurrency, causing investors to lose money. Threat actors have been reported to employ a variety of methods in DeFi platform theft attempts: including initiating flash loans that trigger exploits in the platforms’ smart contracts, and exploiting signature verification flaws in DeFi platform token bridges to withdraw all investments. Many of the attacks against DeFi services have been attributed to the North Korea-affiliated hacking unit known as the Lazarus Group, with the nation-state adversary attributed to the theft of nearly $1 billion. These attacks will likely continue to rise as they have become extremely profitable. A report from blockchain analysis firm Chainalysis revealed that loses from crypto hacks have jumped 60% in the first seven months of the year. The FBI encourages investors who suspect cyber criminals have stolen their DeFi investments to contact the FBI via the Internet Crime Complaint Center or their local FBI field office.
Watch the Video
How does Binary Defense help protect your organization? With best in breed cybersecurity tactics, techniques, and services, we make sure that your environment is secure against the most advanced attacks.