Layerswap, a bridge between centralized cryptocurrency exchanges and layer-2 blockchains, is regaining access to domain , following a recent hack that stole approximately $100,000 in user funds.
See also: Millions of patients' data confirmed stolen after Fortra hack
On March 20, at approximately 19:40 UTC, the layerswap.io domain was attacked, resulting in users attempting to access the service being redirected to a phishing. Shortly thereafter, the hacker attempted to restore Layerswap's X account, completely locking out access to the social media account.
According to Layerswap, the slow intervention of domain registrar GoDaddy allowed the hacker to maintain control of the domain for a longer period of time. Around 11:07 PM UTC, LayerSwap regained the ability to log into its GoDaddy account and revert the changes that had been caused by the hack.
Layerswap’s sophisticated phishing scam managed to drain nearly $100,000 in cryptocurrency from around 50 users. The platform plans to fully refund the affected users and award an additional 10% as compensation for the inconvenience caused.
Investors are advised to revoke their token authorizations to prevent further loss of funds and to compensate for lost funds and assets. After regaining control of the hack, Layerswap began refunding funds to affected users.
See also: Hacker "plays" with Algorand CEO's account
DeFi ParaSwap prevented a massive loss of funds due to a vulnerability in the newly installed Augustus v6 contract.
Despite ParaSwap's efforts to revoke the v6 contract and inform users to take necessary measures, the hacker managed to obtain approximately $24,000 from four different addresses.
A total of 386 addresses were affected by the vulnerability. The protocol also asked users to report any loss of funds that may have not been identified during the preliminary investigation.
Affected users remain at risk until they revoke their authorizations, and ParaSwap recommends that individuals use exploit checking services like Revoke to confirm their safety.
See also: Volt Typhoon: Chinese hacker network deactivated
Protecting yourself from hacking, such as the one that Layerswap suffered, requires a number of measures. First, it is important to keep your computer’s software and operating system up to date. Second, use a strong antivirus and anti-malware program. This should regularly scan computer for threats and provide real-time protection. Third, it is important to use strong and unique passwords for all your accounts. You should also change your passwords regularly and use different passwords for different accounts. Fourth, use two-factor authentication technology where available.
Source: cointelegraph
🔒 Protect your privacy with Proton VPN
Swiss VPN from the creators of Proton Mail — strict no-logs policy, strong encryption, and built-in NetShield that blocks ads, trackers, & malware.
- ✔ No-logs, based in Switzerland (except 14-Eyes)
- ✔ NetShield: blocks ads, trackers & malicious domains
- ✔ Covers all devices — free version available
The link is an affiliate link — SecNews may receive a commission at no additional cost to you. It does not affect the independence of our article writing.
