On June 28, a report from NOYA.ai informed about the hacking incident on platform X. The incident occurred due to a developer having unauthorized access to a wallet capable of adding a connector to the protocol. Total estimated damages are around 14.5 ETH. After detection, the malicious connector was removed, and the contract ownership was updated to protect the assets. The attacker's address has been reported to the centralized exchange. To ensure safety, an external security auditing firm will be hired to conduct a comprehensive assessment, introduce time-lock measures, launch a bug bounty program, and review access control functionality as a whole.
Introduction to the attack on platform X
The recent information security incident has attracted attention from the cryptocurrency community as NOYA.ai released a detailed report. This attack not only caused significant damage but also raised many questions about the security level of trading platforms. With total losses amounting to 14.5 ETH, the actions of the development team and the implemented remediation measures will serve as a valuable lesson for all industry members.
Causes of the attack and damages
The attack stemmed from unauthorized access by a developer to a wallet containing sensitive information. The shortcoming in access control allowed the attacker to deploy the malicious connector. Estimated damages of around 14.5 ETH not only caused losses to the platform but also spread concerns among investors. Necessary remediation measures have been promptly implemented to prevent similar attacks from occurring in the future.
Immediate remediation measures
Immediately after detecting the incident, the development team removed the malicious connector and updated the ownership rights of the contract. This demonstrates a timely and decisive response to the security threat. Additionally, reporting the attacker's address to the centralized exchange also helps prevent suspicious transactions and protect users from further losses.
The importance of hiring security audits
To enhance security, NOYA.ai will hire an external security auditing firm. This will help comprehensively assess the processes and identify potential vulnerabilities within the system. Security audits not only help detect issues but also provide improvement recommendations to strengthen security.
Introduction to the bug bounty program and access control testing
The bug bounty program is an effective measure to encourage programmers and security experts to participate in discovering vulnerabilities. This not only helps in early detection of weaknesses in the system but also creates a monitoring community to protect the platform. Additionally, access control functionality testing has also been conducted to ensure that only authorized individuals can intervene in the system.
The role of the community in improving security
The user community plays a crucial role in detecting and reporting incidents. The collaboration between developers and users will create a more secure environment. By participating in bug bounty programs and providing feedback, users can help the platform become more resilient against security threats.
Recommendations for users
Users should take personal security measures when participating in cryptocurrency platforms. This includes using two-factor authentication, regularly changing passwords, and reporting suspicious activities to developers. Keeping personal information and assets safe should be a top priority for everyone when trading in the cryptocurrency space.
Conclusion
The attack event on platform X has revealed significant challenges in the information security field of cryptocurrency. Remedial measures and security improvements need to be implemented swiftly to ensure user trust. Implementing security audit programs and bug bounties not only creates a safer environment but also helps maintain the platform's reputation in the eyes of the community. It is a shared responsibility of both developers and users to build a safe and sustainable trading space for everyone.
Source: https://tintucbitcoin.com/noya-ai-14-5-eth-mat-trong-tan-cong/
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