Crypto Hacks This Week: Major Crypto Attacks Dough Finance, Compound, and Doja Cat Hit Hard!

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Crypto Hack Weekly Report is here again to bring to your notice, new hacks and vulnerabilities surrounding the crypto space this week. This week has brought a series of menacing incidents that targeted the important platforms and the prominent personalities. Below are the main cases of the biggest and most efficient hacks and the countered actions taken in return.

1. Dough finance extends an 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.

The Dough Finance team posted an on-chain message that in effect resembled an ultimatum to the hacker. The parties required the hacker to reach out to them through email and they would have to send the funds back to a specific address on or before the 15th of July, 2024 at 23:00 UTC. The team said that if appropriate actions were not taken then legal means would be sought to recover the embezzled funds.

2. The Compound Finance website compromised

The security advisor of Compound DAO, Michael Lewellen, went public to announce the official website of Compound Finance,  compound. finance had been hacked. It was hacked to find the site containing a phishing page to harvest information about its users. Lewellen immediately called the members of the crypto community not to engage with the site anymore just in case to save their money.

The attack strategy is still unknown, but the event is one of the domain compromise schemes involving famous crypto leaders. The team was able to regain access to the website after taking the required actions and resumed with better security.

3. Doja Cat’s Twitter gets hacked to push meme coin

Cryptocurrency enthusiasts have lost faith in celebrity endorsement after Doja Cat’s Twitter account was compromised. The compromised account has 5. 333K followers, tweeted advertisements from the official Doja Cat account encouraging the acquisition of $DOJA by saying “buy $DOJA or else,” linking to a wallet connected with Solana and a picture of Doja Cat holding a toy scimitar wearing a chainmail hood.

It did not take Doja Cat long before she had to come to her IG followers to warn them that her Twitter account was hacked. All was to no avail, as the meme token $DOJA only performed slightly better to reach a mere market cap of $1. 65 million before it declined by 96%. This is a rather distressing case of the use of a celebrity’s account to advertise meme coins, which have been previously targeted in similar scams alongside Hulk Hogan and Metallica. Such attacks do not only bring evils to the celebrities involved but also lose lots of money to their followers.

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!

Be safe and sound in the world of crypto, and stay tuned for another Weekly Hack Report next week!