North Korea links suspected in $5 million breach of Tapioca DAO
Tapioca DAO, a decentralized money market protocol on LayerZero, suffered a security breach on Oct. 18, causing its native TAP token to lose more than 90% of its value.
Blockchain security firm Cyvers revealed that the protocol’s deployer address was compromised, resulting in unauthorized changes to the vesting contract’s ownership.
The attack
The attacker exploited the vulnerability to withdraw more than 21 million TAP tokens using an emergency rescue function. The tokens were then swapped for 591 ETH, which caused TAP to crash 93%.
Further investigation revealed that the attacker used Stargate to bridge some of the stolen assets to BNB Chain. As of press time, the suspicious address holds roughly $4.7 million worth of BSC-USD and USDC on the BNB Chain.
Cyvers estimates the total losses from the breach to be approximately $16.9 million. However, Web3 security auditor Hacken suggested the figure could be as high as $38 million.
In the aftermath of the attack, Hacken warned users of phishing attempts. Malicious actors are reportedly spreading fake links that promise refunds while urging users to revoke their accounts.
The security firm warned:
“We’ve noticed fake accounts impersonating Tapioca_dao posting phishing links under this thread. Please do not interact with any suspicious links or messages claiming to be from Tapioca. Stay vigilant and protect your assets.”
Tapioca DAO, which is building a DeFi money market and stablecoin on Layer Zero’s cross-chain infrastructure, has yet to issue a public statement regarding the breach as of press time.
North Korea connection
On-chain investigator ZachXBT speculated that the Tapioca DAO hack could be linked to malware downloaded by a team member.
He pointed out that this exploit may be related to a series of recent hacks targeting projects like Nexera, Concentric, Masa, SpaceCatch, Reach, Serenity Shield, and MurAll.
ZachXBT pointed out that these attacks are part of a larger operation involving fake job scams, potentially connected to state-sponsored threat actors from North Korea. However, there is no conclusive evidence linking the Tapioca breach to North Korea as of press time.
Mentioned in this article
#North #Korea #links #suspected #million #breach #Tapioca #DAO
News plays a pivotal role in our lives by keeping us informed and connected to the world. It serves as a critical source of information, offering updates on current events, politics, economics, science, and more. Through news, we gain awareness of global issues and local developments, helping us make informed decisions in our personal and professional lives. News also fosters discussion and debate, encouraging critical thinking and perspective-taking. Moreover, it promotes transparency and accountability among governments, businesses, and other institutions. In a rapidly changing world, staying updated with the news enables us to adapt to new challenges and opportunities, shaping our understanding of the complexities of society. Ultimately, news is not just about information; it empowers us to participate actively in the world around us, contributing to a more informed, engaged, and responsible global citizenry.
Health is fundamental to our well-being and quality of life, making it an essential aspect of daily existence. It encompasses physical, mental, and emotional aspects, influencing our ability to function effectively and enjoy life fully. Prioritizing health allows individuals to maintain optimal physical fitness, reducing the risk of diseases and promoting longevity. Mental health, equally crucial, affects our cognitive abilities, emotional stability, and overall happiness. Investing in preventive healthcare through exercise, balanced nutrition, and regular medical check-ups helps in early detection of potential health issues, ensuring timely intervention and treatment. Beyond individual benefits, a population’s health impacts societal productivity and economic stability. Governments and organizations worldwide emphasize public health initiatives to address pandemics, health disparities, and promote overall well-being. Ultimately, health serves as the foundation upon which we build our lives, influencing our ability to pursue goals, nurture relationships, and contribute meaningfully to society.
Money plays a crucial role in our lives as a means of financial security and freedom. It enables us to meet basic needs such as food, shelter, and healthcare, while also providing opportunities for education, travel, and personal growth. Beyond material comforts, money facilitates social connections and experiences that enrich our lives. It empowers individuals to invest in their futures, whether through savings, investments, or entrepreneurial ventures, thereby fostering economic stability and growth. However, the pursuit of wealth should also be balanced with ethical considerations, as money can influence relationships and societal dynamics. Responsible management of finances is key to achieving long-term goals and mitigating financial stress. Ultimately, while money is a tool for achieving aspirations and fulfilling desires, its true value lies in how it is utilized to improve both personal well-being and the broader community.
Earning Easy Money in 2024: Opportunities and Considerations 💸
In 2024, the landscape of earning easy money presents diverse opportunities, albeit with considerations. The digital age offers platforms for freelancing, online trading, and e-commerce, allowing individuals to leverage skills and creativity for financial gain. Cryptocurrency investments continue to allure with potential for quick profits, yet they entail high volatility and risk. Moreover, the rise of the gig economy enables flexible work arrangements through apps and websites, offering quick payouts but often without job security or benefits. Passive income streams such as rental properties and investments in stocks or bonds remain viable, but demand initial capital and ongoing management. Amid these options, caution is essential to avoid scams and unsustainable ventures promising overnight success. Ultimately, while the allure of easy money persists, informed decisions, diligence, and a long-term perspective are crucial for sustainable financial growth and security in the dynamic year ahead.
