BlockThreat - Week 19, 2021

DarkSide | xToken | Pi Network | Vault.sx | bEarn

May 24, 2021

∙ Paid

This week ends the Colonial Pipeline saga with yet another paid ransom further emboldening ransomware gangs. Ethereum, Binance Smart Chain, and EOS based DeFi applications were exploited this week for a total loss of almost $40M. On the bright side projects are finding and patching more vulnerabilities using internal code reviews and bug bounty programs potentially reversing a seemingly unstoppable barrage of DeFi hacks. Be sure to check out excellent reports by Ciphertrace and Chainalysis on the current state of cryptocurrency crime.

News

Koch brothers paid the $5M (75 BTC) ransom to the DarkSide Ransomware Gang to help reopen the Colonial Pipeline after six days of outage. Blockchain analytics companies have traced the ransom to a number of exchanges and Hydra marketplace. Interestingly, the group shut down its operations after its public infrastructure was seized.
Europol arrests six people connected to a €30M scam involving fake cryptocurrency trading platforms.
Murder for hire scheme…

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