Cybersecurity experts at Cyvers have uncovered a significant breach at Bankroll Status, a DeFi platform operating on the BNB Chain. The breach resulted in a substantial loss of $230,000 and is believed to be the work of the infamous DualPools hacker group.
The suspicious transaction that led to the massive loss was identified by Cyvers as part of a broader malicious scheme. The team at Cyvers has been diligently monitoring the hacker’s activities, and they have found evidence linking the attack to a smart contract that was deployed 90 days ago. This smart contract may have provided the hacker with the means to carry out the heist.
The tactics employed by the hacker in this attack seem to align with strategies used in previous DualPools attacks. Typically, the group deploys malicious smart contracts within DeFi ecosystems to slowly drain funds from unsuspecting users over time.
While the investigation to uncover the specifics of the hack is still ongoing, Cyvers has issued a clear warning to both platforms and users in the DeFi space. They are urging immediate action to bolster security measures and protect assets. Cyvers is actively working to identify any additional vulnerabilities within Bankroll Status and other platforms that could be at risk of similar attacks.
In a related incident, BingX Exchange in Singapore recently fell victim to a hack amounting to over $50 million, further highlighting the pressing need for robust cybersecurity measures in the crypto space.
As the world of decentralized finance continues to evolve and attract more users, the importance of staying vigilant against malicious actors cannot be overstated. Platforms and users must prioritize security protocols and regularly update their defenses to mitigate the risk of falling prey to sophisticated hacking attempts.
On a personal note, Dishita, a talented content writer with a growing interest in crypto, enjoys exploring various topics beyond the realm of cybersecurity. With a passion for travel and photography, she aspires to open her bakery one day. An animal lover, Dishita dreams of owning dogs and showering them with love and care in the future.
