Truflation, a financial data provider, issued an urgent alert following the detection of a suspicious transaction earlier today involving their platform.
According to the company, a hacker launched an attack using malware. The blockchain security platform Cyver Alerts said that Truflation’s safe address was compromised, leading to a total loss of approximately 56,872,500 $TRUF, valued at around $4.6 million.
Truflation has suspended staking services amid impersonation threats
The Truflation team, law enforcement, and industry collaborators are investigating the situation to determine what exactly happened in the breach incident. For the time being, staking services are not available. Additionally, users might experience limited liquidity while using decentralized exchanges (DEX).
Truflation has cautioned the community to be wary since active fraudulent accounts are impersonating them. They noted that people should verify their official account handle all the time. They also alerted the community against sharing personal information and asked them to report any suspicious activity to avoid being scammed or misled. The team added that their official account is the only source of authentic information.
Since its emergence in mid-2021, Truflation has brought on-chain data delivery to the worlds of TradFi and DeFi, giving builders the tools they need to create cutting-edge finance solutions. The decentralized service that tracks inflation recently announced that it is offering its Big Mac Index in 17 countries worldwide. Initially available in the US and UK, the index has expanded to include Argentina, Australia, Italy, Germany, Brazil, Canada, Switzerland, Hong Kong, India, Japan, Turkey, South Africa, Mexico, France, and Spain.
Cybercriminals stole nearly $1.7 billion from cryptocurrency platforms in 2023
Recent events underscore the persistent vulnerabilities in crypto platforms, which continue to attract cybercriminals and nation-states alike. According to Chainalyis, hackers stole almost $1.7 billion from cryptocurrency platforms in 2023, a drop from the $2 billion record set the previous year. Despite the drop in total money lost, the number of individual incidents targeting these platforms grew from 219 in 2022 to 231 in 2023, due in no small part to the collapse of several popular exchanges and the overall precipitous decline in the value of cryptocurrencies.
United Nations experts are investigating 58 cyberattacks on cryptocurrency firms allegedly conducted by North Korean hackers, which allowed attackers to earn about $3 billion over a six-year span.
Cybercriminals and nation-states continue to exploit vulnerabilities in crypto platforms enabling large-scale heists. Just this week, another popular crypto platform saw about $8 million stolen and last month more than $300 million worth of Bitcoin was stolen from Japanese cryptocurrency exchange DMM Bitcoin.
