Weekly Report (Jan-15)


  • Over $3.2 million was lost in multiple DeFi hacks.
  • Bybit unveiled its exclusive NFT Pro trading platform.
  • Sony and Siemens develop advanced headsets for the industrial metaverse.

Blockchain Hacks

A DeFi netizen was the victim of a phishing attack in which the individual was scammed for over $1,041,122 worth of stETH after signing a malicious ERC20 permit signature on a phishing site. The token approval given on the scam website was then activated by the hacker to carry out illegitimate transfers from the address without the knowledge of the token owner.

Another address on the Avalanche Chain also lost assets worth 9.41 BTC, amounting to approximately $433,700, in yet another phishing scheme.

An individual on the Ethereum Mainnet fell victim to a zero-address transfer scam, in which assets worth approximately 960,000 USDT were sent to the scam address instead of the intended transfer address.

A handful of tokens were also identified as rug-pulls. The deployer of the fake XAI token swapped approximately 2.077 trillion XAI tokens for 219,516 BSC-USD. The address associated with the fake ElonTroll token also swapped 2.2 quadrillion ElonTroll for 298.9 BNB, worth approximately $91,500.

The Wise Lending protocol was exploited on the Ethereum Mainnet due to a smart contract vulnerability, which resulted in a loss of over 177 ETH worth approximately $464,000. The root cause of the exploit is due to the precision loss in smart contract operations. The exploiter took advantage of a nearly empty market in protocol, which was deployed just a day prior to the attack incident, in order to inflate the share price. We have shared a detailed analysis of the exploit in this blog.

Metaverse, and NFTs

Bybit has unveiled NFT Pro via its Web3 arm, showcasing a broad and varied selection of NFT collections. The purpose of NFT Pro is to bridge the gap between the traditional Web2 world and the burgeoning Web3 space by inviting users from the internet. The platform aims to provide early opportunities to engage with exclusive NFT collaborations involving renowned artists, sports figures, and cultural celebrities through unique branded NFT stores and special releases. Bybit NFT Pro enables consumers to directly acquire NFTs from well-known collections that are featured on platforms like Blur and OpenSea, which promotes liquidity and price clarity. Additionally, the platform is designed with a user-friendly and effective interface, offering more competitive and quicker transaction fees.

Sony and Siemens have collaborated to create an innovative mixed-reality headset, poised to revolutionize the industrial metaverse for professionals. The alliance between Sony and Siemens is focused on producing a device that leverages cutting-edge technology to foster creativity and innovation. The headset is equipped with 4K OLED microdisplays, ensuring a vivid and engaging user experience. It comes with two types of controllers: a standard VR controller and an innovative single-finger wearable controller, enabling smooth and intuitive interaction with virtual elements. A standout aspect of the headset is its smooth integration with Siemens’ Xcelerator digital transformation software. This integration merges the headset’s IoT capabilities with a versatile ecosystem, creating a conducive environment for improved teamwork and expert design input. This technology enables professionals to collaborate in real-time, making prompt and informed decisions using precise data.

OnChain Insurance Industry News

Neptune Mutual continues to run their New Year Rewards Campaign, in which cover policy purchasers will receive 110% cashback on cover policy fees for all policies purchased across Ethereum, Arbitrum, and the BNB chain.

1 Like