Weekly Report (Mar-04)


  • Over $76.99 million was lost in multiple DeFi hacks.
  • Robinhood joined forces with Notable.art to offer an exclusive NFT giveaway.
  • Delabs launched an NFT Drop for its highly anticipated Metabolts RPG.

Blockchain Hacks

The MetaMask wallets of Serenity Shield were compromised, which resulted in a loss of 6.9 million worth of SERSH, totaling approximately $5.6 million. The root cause of the exploit is unknown at the moment. Some of the stolen SERSH tokens were swapped for USDT and held at addresses controlled by the attacker, while a portion of these stolen assets were bridged to MEXC.

Seneca Protocol was exploited on the Ethereum Mainnet and Arbitrum Chain due to a smart contract vulnerability, which resulted in a loss of 1,900 ETH, worth approximately $6.5 million. The root cause of the exploit is due to an arbitrary external call vulnerability. We have shared a detailed analysis of the exploit in this blog.

Shido, the decentralized cross-chain protocol on the Ethereum Mainnet, was exploited reportedly due to the compromise of the private keys, which resulted in a loss of funds worth over $4 million. The protocol experienced an unauthorized transfer of ownership, following which their staking contract was subject to a malicious code update that introduced a hidden function allowing the attacker to drain the entire SHIDO balance, totaling 4.35 billion SHIDO tokens.

The hot wallets of the Bitforex exchange saw outflows of assets worth approximately $56.5 million to an EOA across the Ethereum Mainnet, BNB chain, and Polygon networks. The centralized exchange has reportedly stopped processing withdrawal requests with no official announcements. The SpAI listing partner of the exchange claims that the team has robbed all partners and investors of their money. Their website and social media channels have since become inaccessible.

A user was a target of a crypto phishing scam that saw them lose approximately $4.39 million worth of ALI and PUSH tokens. The victim had reportedly signed a malicious Uniswap Permit2’s Permit Batch message. The AI Protocol was made aware of the situation, and urgent community governance was set to burn the associated 111,652,181 ALI tokens after approval from the victim.

Metaverse, and NFTs

Robinhood has partnered with Notable.art and renowned digital artist Hunt Slonem to offer exclusive NFT giveaways. This partnership provides a unique opportunity for Robinhood’s users to explore the NFT space and acquire prestigious artworks by Slonem. Starting now and continuing every two weeks for the upcoming two months, aficionados have a rare chance to secure one of four distinct digital artworks by Slonem through special airdrops on the Notable marketplace, which can be accessed through the Robinhood Wallet. While some of Slonem’s artworks command prices in the tens of thousands, those who collect all four free digital pieces have the option to purchase one of 100 limited-edition physical prints of his coveted artworks at a price of $299. For those keen on making an investment, additional unique masterpieces by Slonem are up for sale in the marketplace at $1,500 each. These items come with a unique NFT and a premium quality print, with the unveiling and NFT delivery scheduled for March 19.

​​Delabs, a leading South Korean video game developer, is generating excitement with its first NFT release for the eagerly awaited Metabolts RPG. Ahead of its 2024 launch, this character-centric game, which focuses on skillful strategic gameplay, is gradually releasing 7,777 distinctive in-game NFTs through its official portal. These unique profile pictures are accessible to all, encompassing those involved in the private sale, whitelist sale, and general public sale, offering a chance to obtain exceptional collectibles that offer real value. Within the Metabolts universe, the character NFTs are not only aesthetically appealing but also provide significant benefits. Owners of these NFTs will gain access to exclusive Delabs airdrops, the chance for staking rewards, and early advantages in the game. Various price ranges have been set to mirror the different levels of engagement by members of the Delabs community, with minting prices varying from about $30.54 to $183.26.

OnChain Insurance Industry News

Adoption of Neptune Mutual’s #DeFiInsurance solution continues to grow, with over 500 new users having purchased a cover policy since the beginning of the year.

The 1Inch cover product in Neptune Mutual’s marketplace on the Binance Smart Chain network, BNB, is leading the way with a utilization of over 40%.

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