As a seasoned researcher with years of experience in the dynamic world of blockchain and decentralized finance, I can’t help but feel a sense of deja vu reading about yet another security breach in the crypto space. It seems like every time we take a step forward, a few steps back are swiftly taken.
Experts from cybersecurity company Blockaid claim that there have been suspicions of hacker attacks on the user interface (front-end) of Ambient Finance.
It appears that Ambient Finance (previously known as CrocSwap), a decentralized cryptocurrency exchange supported by Circle Ventures and Jane Street, has experienced a front-end hacking incident. This attack enabled malicious actors to insert harmful code into the system, according to blockchain security firm Blockaid in a post on October 17th.
⚠️ IMPORTANT NOTICE: It appears there might be an attempted frontend attack on @ambient_finance.
Should you currently be connected, we recommend abstaining from executing transactions and avoiding interactions with the dApp until the matter is rectified. Further information will be shared shortly.
— Blockaid (@blockaid_) October 17, 2024
After hearing about recent events, the Ambient Finance team has acknowledged the problem on their Discord channel, explaining they’re actively “looking into” the situation at hand. The full scope of the attack is still undetermined, and it remains uncertain if any users have been affected. In light of this potential security breach, it’s recommended that users avoid engaging with the site as hackers might illegally obtain access to funds.
As reported by Blockaid, these attackers are leveraging the Inferno Drainer toolkit and have established a dedicated command-and-control server specifically tailored for this particular assault.
A couple of hours ago, an event transpired that follows closely on the heels of Radiant Capital, a decentralized finance initiative utilizing LayerZero, disclosing over $50 million in losses as a result of an assault by unidentified parties. As per the reports of a web3 security company named Ancilia, the source of this cyber attack appears to stem from a clandestine contract planted within the BNB Chain (previously known as Binance Smart Chain) network.
Established in 2021, Ambient Finance secured more than $6 million during a seed funding round held in 2023. This successful round valued the company at an impressive $80 million. The investment round was spearheaded by Blocktower and attracted contributions from Jane Street, Circle, Tensai Capital, Naval Ravikant, Yunt Capital, Susa Ventures, Quantstamp, Hypotenuse Labs, and several other notable entities.
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2024-10-17 14:16