Crypto Community Loses Over $31 Million Last Week

Last week, the cryptocurrency community faced substantial losses totaling over $31 million, as reported by cybersecurity team SlowMist. Their weekly incident report, covering February 4 to February 10, highlights various hacks and scams within the crypto space.

SlowMist identified the major security breach on February 9, impacting the PlayDapp gaming platform, as the largest incident during that week. The breach occurred due to the exposure of the platform&'s private keys, allowing the hacker to compromise the deployer&'s address and gain minter access. Consequently, the attacker initiated the unauthorized minting and transfer of 200 million PLA (PlayDapp) tokens, valued at over $31 million.

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To address the financial repercussions of the incident, the PlayDapp team directly contacted the perpetrator, offering a reward for the return of the stolen assets. However, there have been no updates on the team&'s efforts to collaborate with the hacker.

Another notable security incident from last week, highlighted by SlowMist, involved the hack of the X account belonging to Keith Grossman, president of the company behind the MoonPay crypto wallet management tool. According to SlowMist, Grossman &quot;fell victim to a hacked X account, spreading dangerous wallet drainer links&quot; on February 9.

&quot;The official native coin of everything Moonpay, as a part of our rewards program. Now open for claiming on ETH, tokens will be distributed based on eligibilities and requirements,&quot; one of the posts made from Grossman’s compromised account promoted the drop of the MOON token, deceiving X users into connecting with the drainer.

Some members of the cryptocurrency community noted that this was not the first time Grossman’s X account had been hacked.

Additionally, SlowMist mentioned two rug pulls involving the Not Found and BABYREFUND projects. In the first case, SlowMist reports a loss of $156,000, while the amount stolen in the second incident was not disclosed.

Although not included in SlowMist&'s report, another major rug pull occurred last week, according to the AegisWeb3 team. On February 5, Lola investors suffered a loss of nearly 400,000 USDT in an exit scam. Additionally, on February 7, AegisWeb3 detected a rug pull involving the Joe Rogan (ROGAN) tokens, resulting in a loss of $250,000.

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AegisWeb3 also disclosed an instance of a scam executed with the help of the infamous Pink Drainer. On February 4, a victim unknowingly authorized an &quot;Increase Allowance&quot; transaction, leading to the theft of cryptocurrency valued at nearly $195,600 at the time of the incident.

Unfortunately, more instances of scams facilitated by the Pink Drainer have surfaced since then. One such incident, detected by AegisWeb3, occurred yesterday, resulting in a loss of 335,863.24 USDC and 80,349.43 USDT.

This article was originally posted on Coinpaper.com -> Click here to read the article there.

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