The past few days have witnessed significant losses in the realm of crypto security breaches. SlowMist, a reputable blockchain security platform, reported multiple security incidents throughout the week resulting in over $8.8 million in losses for the targeted entities. The platform shared detailed information about these events on its official X account.
The latest SlowMist Weekly Security Report covering the period from June 3rd to June 9th, 2024, highlighted five major security incidents with substantial financial implications. Loopring suffered a loss of $5 million due to a security vulnerability that compromised the Loopring Smart Wallets. Gemholic, on the other hand, lost $3.4 million in a rug pull incident.
According to SlowMist, the security firm identified five exploits during this timeframe involving Loopring, Gemholic, TLN Protocol, SteamSwap, and NCD, all resulting in significant financial losses. The security breach in Loopring allowed the attacker to steal $5 million worth of assets from the platform. Gemholic disappeared after moving investors’ funds, leading to the loss of nearly $3.4 million.
Three of the incidents were attributed to contract vulnerabilities. In the case of TLN Protocol, the attacker exploited a contract vulnerability on the platform, resulting in a loss of approximately $280,000 on BNBChain. Similarly, the incident involving SteamSwap saw losses of up to $105,000 on BNBChain due to a contract vulnerability. The attack on NCD resulted in a loss of almost $20,000 on BNBChain due to a contract vulnerability as well.