📰 CRYPTO NEWS
Initia has just confirmed that it suffered a second hack in less than three weeks, and this time the losses amount to $3.27 million in stolen crypto assets. The attacker used compromised cloud credentials to move the funds—a method that shows you don’t always need to break a protocol’s code to drain it. Of that total, approximately $2.16 million remains frozen thanks to the network being paused in time, which helped limit some of the damage. The fact that the same project has been hit twice in such a short time raises red flags about its internal security processes. It’s worth asking how much trust a protocol can maintain within its community when exploits keep happening before the wounds from the first one have even healed.
What do you think? I’m reading your comments 👇
Initia has just confirmed that it suffered a second hack in less than three weeks, and this time the losses amount to $3.27 million in stolen crypto assets. The attacker used compromised cloud credentials to move the funds—a method that shows you don’t always need to break a protocol’s code to drain it. Of that total, approximately $2.16 million remains frozen thanks to the network being paused in time, which helped limit some of the damage. The fact that the same project has been hit twice in such a short time raises red flags about its internal security processes. It’s worth asking how much trust a protocol can maintain within its community when exploits keep happening before the wounds from the first one have even healed.
What do you think? I’m reading your comments 👇