This week’s Crypto Hack Weekly Report brings to light the latest hacks and vulnerabilities shaking the crypto world. From breaches in prominent platforms to the exploitation of celebrity accounts, these incidents have created significant ripples in the community.

Here’s a detailed look at the major hacks and the countermeasures taken. It’s going to be heavy for sure!

1. Dough Finance Issues Ultimatum After $1.96 Million Exploit

Dough Finance encountered on the 12th of July, 2024 a hack joining the list of newly hacked crypto organizations. An unknown hacker was able to breach using a flaw in its smart contract and got away with about $1. 96 million.

In response, Dough Finance issued an on-chain message demanding the hacker reach out via email and return the funds to a specified address by July 15, 2024, at 23:00 UTC. The team warned that failure to comply would lead to legal action to recover the stolen assets.

2. Compound Finance Website Compromised!

Michael Lewellen, the security advisor for Compound DAO, revealed that the official Compound Finance website (compound.finance) had been hacked. The breach resulted in the site displaying a phishing page designed to steal user information.

Lewellen quickly urged the crypto community to avoid interacting with the site to protect their assets. Although the exact attack method remains unclear, this incident highlights the ongoing threat of domain compromises targeting high-profile crypto platforms. The team regained control of the website and enhanced its security measures.

The crypto community’s trust in celebrity endorsements took a hit when Doja Cat’s Twitter account, with its 5.3 million followers, was compromised. The hacker used the account to promote the meme coin $DOJA, posting a tweet urging followers to “buy $DOJA or else,” along with a link to a Solana wallet and an image of Doja Cat in a chainmail hood.

Doja Cat quickly alerted her Instagram followers about the hack, but the damage was done. The $DOJA token saw a brief market cap increase to $1.65 million before plummeting by 96%. This incident is part of a troubling trend where celebrity accounts are hijacked to promote scam tokens, similar to past attacks involving Hulk Hogan and Metallica. These scams not only harm the celebrities but also cause significant financial losses to their followers.

Stay Safe Out There Folks!

In social media accounts, act responsibly concerning privacy issues; do not click on unknown links and messages; get more information about current trends in the crypto world, especially concerning security. In unity, we can stronger and more secure the crypto space.

Also, Check Out: Crypto Hacks Report: Over $1.5 Billion Stolen in H1 2024!

Cryptocurrency security is a team effort. Share this report and spread awareness!