Afternoon security watch: According to Cointelegraph at 13:52 Beijing time today, Initia said its cloud credentials had been compromised. The attacker transferred approximately $3.27 million in assets, of which about $2.16 million remains frozen on the network, which has been paused.
My take: Contract audits cannot replace cloud key security, access controls, and incident response management. Frozen does not mean recovered, and pausing does not mean the vulnerability has been fixed. Participants should wait for an official recovery announcement from the project and beware of fake compensation links.
Source: Cointelegraph, “Initia confirms second exploit in 3 weeks.” #CryptoSecurity
My take: Contract audits cannot replace cloud key security, access controls, and incident response management. Frozen does not mean recovered, and pausing does not mean the vulnerability has been fixed. Participants should wait for an official recovery announcement from the project and beware of fake compensation links.
Source: Cointelegraph, “Initia confirms second exploit in 3 weeks.” #CryptoSecurity
