Venn Researchers Discover Backdoor That Left $10M Vulnerable Onchain

Venn Researchers Discover Backdoor That Left $10M Vulnerable Onchain

Crypto security firm Venn Network uncovered and neutralized a major backdoor vulnerability that put over $10 million in onchain assets at risk across thousands of smart contracts. Venn security researcher @deeberiroz shared details of the discovery on X, saying that it triggered a 36-hour rescue operation involving several security researchers and developers, including Pcaversaccio, Dedaub, and Seal 911, who worked together to secure or move vul…

Just another day in DeFi: A hack, a rug-pull, and $10M saved

The decentralized finance (DeFi) sector is a financial frontier zone, home to some of crypto’s most risk-on experiments. As a result, few days go by without a dose of DeFi drama. But it’s not all bad news… Backdoor vulnerability left $10M at risk Security researchers at VennBuild announced the discovery of a “critical backdoor” vulnerability, in which suspected North Korean hackers had laid a trap affecting “thousands of smart contracts, leaving…

Venn Network Uncovers And Shuts $10M DeFi Backdoor - Data Intelligence

Crypto security researchers uncovered and neutralized a critical threat affecting thousands of smart contracts, potentially preventing more than $10 million in crypto from being stolen.  On Thursday, pseudonymous Venn Network researcher Deeberiroz shared in an X post that a backdoor exploit had been silently threatening the ecosystem for months. The researcher said the exploit targeted uninitialized ERC-1967 proxy contracts, allowing them to hij…

Researchers Foil $10M DeFi Backdoor Attack, Suspected Link to Lazarus Group

Researchers Disable $10M Backdoor Exploit in DeFi Space In a major win for the crypto community, security researchers found and disabled a backdoor exploit in decentralized finance (DeFi) protocols that exposed over $10 million of cryptocurrency. The attack, targeting a multitude of smart contracts, is suspected to be linked with North Korea’s Lazarus Group due to its sophistication and large-scale deployment. Exploit Targeted Uninitialized ERC-…

Researchers foil $10M DeFi backdoor in thousands of smart contracts

Venn Network researchers led a 36-hour rescue to secure funds from a sophisticated smart contract exploit that had left millions in DeFi assets at risk for months.