ZackXBT | Crypto

Hackers and threat actors continue to infiltrate companies, blockchain projects and Web3 firms by exploiting remote work arrangements. 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. Read more

Coinbase users are falling prey to social engineering scams, costing users tens of millions of dollars in losses, according to ZackXBT. Onchain sleuth and security analyst ZackXBT claims to have identified an additional $45 million in funds stolen from Coinbase users through social engineering scams in the past seven days alone. According to the onchain detective, the $45 million figure represents the latest financial losses in a string of social engineering scams targeting Coinbase users, which ZackXBT said is a problem unique among crypto exchanges: Cointelegraph reached out to Coinbase but was unable to get a response by the time of publication. Read more