Curve Founder Warns of ‘For-Hire’ Hackers Coordinating Cross-Platform Attacks

Finance founder Michael Egorova said Decipher That the hackers “for rent” coordinate attacks on multiple platforms, which is increasingly difficult to ensure definition of projects.

One example is DNS attack on the funding of the curve Last month. The front-end website of the decentralized financing protocol was threatened, allowing attackers to divert users to a malicious place.

“Different hackers could coordinate efforts on platforms while compromising them for greater impact and profit,” Egorov said Decipher in a post-M) interview.

Egorova described in detail how the recent attack on Curve succeeded, despite his team used strong passwords and authentication with two factors. This happened when their register “conveyed ownership of [Curve’s domain] Someone else without any notifications of E -Ap “for Curve’s management, Egorov explained.

However, threat actors could be involved in the “calculated behavior” that has become more frequent.

Some “I can even take a bribe to target certain projects, if someone is willing to pay,” Egorov claimed, adding that the hackers could “coordinate efforts on platforms while compromising them for greater impact and profit”.

Comparing the crypto security with inherited infrastructure, such as traditional banking, Egorov noted that methods like SMS authentication with a two -factor are “basically insecure and should be avoided.”

But for the crypto sector, roles can be drastically distinguished, “because all transactions become final almost immediately,” said the founder of the curve. Once the attack starts, it is “irreversibly design,” he noticed.

“Safety standards tape is much higher […] And today’s Internet infrastructure is simply not built to meet these requirements. “

‘Interesting anomaly’

Egor’s warning comes because the Blockchain Certik safety report revealed that vulnerabilities of code are the most common type of attack in a crypto space

This was an “interesting anomaly,” wrote Natalie Newson, a senior safety blockchain researcher in certic DecipherNoting that the vulnerability of the code “represented most of the funds used”, causing losses of over $ 229 million.

For context, the figure involves the damage done on Protocol At the end of the month, which amounts to approximately $ 225 million, which is the biggest individual attack for May.

In the Krypto sector, the hackers ticked around $ 302 million in nine major violations in May, which is a drop by about 16% compared to a total of $ 364 million, Certik’s report shows.

The attackers exploited vulnerabilities in smart contracts Cetus Protocol using the scoof tokens to manipulate prices and exhaust liquidity. The exploitation is classified as “manipulation attack,” said Blockchain security company Cyvers Decipher at that time.

Edited Stacy Elliott.