Inspex

On June 20, a cybersecurity firm disclosed a critical vulnerability in Kraken's systems, leading to a $3M bug bounty reward. This vulnerability allows a malicious attacker to initiate a deposit on the system and receive funds in their account without fully completing the deposit.

On June 10, UwuLend suffered a major loss of $19.4 million by an oracle manipulation attack. The oracle determined prices by the conditions of multiple Curve pools. The attacker can manipulate the pool states by executing large trades with borrowed tokens.

Notable exploits in June 2024 resulted in a total cost of $29.2 million. The most severely affected entity in June 2024 was UwuLend, which incurred a loss of $19.4 million. The details of each attack can be found in the reply.

Our CEO, Sitthinut Haruanpuach, moderated BUIDL HOUR, providing vital insights to support new builders in marketing, technical aspects, and grants. We appreciate the invitation from @W3X_NW and @Gm2Social.

6/ Another factor involves biometric (fingerprint, face, or retina) scanning which is "something you are" commonly used for door access, often combined with a keycard or passcode for two-step access.

5/ This adds an extra layer of security by confirming that you have the physical device in your possession (something you have) in addition to entering a password (something you know). This method is commonly used on cryptocurrency exchanges that require both for login.

4/ Authenticator application is a widely used application among cryptocurrency enthusiasts. It generates random numbers on your device for verification purposes.

3/ For example, if you use two-factor authentication and someone else knows your password, they still won't be able to access your account. They'll need to have another factor in place to log into your account.

2/ Two-factor authentication is designed to prevent unauthorized access by requiring both factors, reducing the risk if one factor is stolen.

1/ Two-factor Authentication (2FA) can be applied to any system, whether online or offline. It requires two different types of factors for authentication: something you know, something you have, and something you are.

7/ On May 31, the largest hack since 2022 occurred. Approximately 4502 $BTC (around $304M) was stolen from the DMM Bitcoin hot wallet. This hack is now the third-largest cryptocurrency theft in Japan's history, following the 2018 Coincheck hack. finance.yahoo.com/news/report-re…

6/ The minted $GALA was exchanged for up to 100 $ETH, equivalent to approximately $21.8M. etherscan.io/txsInternal?a=…

Notable exploits in May 2024 resulted in a total loss of $351.7 million. The primary cause was the theft of a private key. The most severely affected entity in May 2024 was DMM Bitcoin, which incurred a loss of $304 million. The details of each attack can be found in the reply.

📣InspeX - Event Partners of BUIDL Hour with Metis x Conflux and Web3 X! 🔥W3X is thrilled to announce InspeX (@InspexCo) as an event partner for BUIDL Hour, a key highlight of the Web3 X event series! 🎯Founded in 2021, InspeX is a team of seasoned cybersecurity experts with extensive experience in various cybersecurity domains. We provide top-notch blockchain and smart contract professional services and solutions to enhance the security of the vast blockchain ecosystem. Don't miss BUIDL Hour! InspeX looks forward to seeing you at BUIDL Hour! ________________________ ⏰Time: 2PM - 5PM 📅Date: Friday, June 6, 2024 📍Location: Ho Chi Minh City 🔗The Registration link: lu.ma/52dl8sho