🧵North Korea Laundered $1 Billion in Crypto in 4 Months. How Industry Leaders Can Change Crypto Freezes and Recovery

So far this year, logic errors emerged as the most frequent smart contract vulnerability. Ranging from access control flaws to improper accounting, they've resulted in over $718M USD in losses. The most significant of these was the Cetus exploit, which alone accounted for more than $638M. Operational security failures caused higher aggregate losses, but the sheer volume and diversity of smart contract-related failures highlight that secure coding practices remain critically insufficient.

Our investigators are working closely with the Kinto team to respond to this incident and assist with recovery efforts. Read more about what happened below

DeFi security teams must be on 24/7 to ensure prompt mitigation of security breaches. What's the ideal threshold for response time? @julia27eth, co-founder of @zeroshadow_io, discussed this in our security X Space earlier this month.

URGENT: In the last 60 days, a hacker has compromised 1200+ addresses on Hyperliquid The hack works with a single signature that upgrades the EOA to a 1 of 1 multisig with the hacker as the only signer The upgrade is immediate & gives the hacker full access to all of their assets on HyperCore (including unstaking HYPE & withdrawing after 7 days) Multsigs are a HyperCore primitive & so the hacker does not gain access to assets on HyperEVM (only HyperCore) Putting a spreadsheet of hacked addresses in the next tweet (ty @_Syavel_ for data)

🧵False complaints are being systematically submitted by organized criminals to pressure services to erroneously lift freezes. What are they claiming and what can services do about it? 1/6