📢 Gate Square #MBG Posting Challenge# is Live— Post for MBG Rewards!
Want a share of 1,000 MBG? Get involved now—show your insights and real participation to become an MBG promoter!
💰 20 top posts will each win 50 MBG!
How to Participate:
1️⃣ Research the MBG project
Share your in-depth views on MBG’s fundamentals, community governance, development goals, and tokenomics, etc.
2️⃣ Join and share your real experience
Take part in MBG activities (CandyDrop, Launchpool, or spot trading), and post your screenshots, earnings, or step-by-step tutorials. Content can include profits, beginner-friendl
Meme coin trading platform遭 Hacker 攻击 损失或达上亿美元
Meme coin trading platform遭遇重大Hacker攻击,损失或达上亿美元
On the night of November 16, a decentralized platform focused on Meme coin trading suffered a serious cyber attack. According to preliminary estimates, this incident may result in losses of up to tens of millions of dollars, with the total losses potentially reaching over one hundred million dollars.
Security experts have pointed out that users' private key information has been leaked, but the specific leakage channels are still under investigation. This incident has dealt a significant blow to the recently hot on-chain Meme market, while once again raising concerns about the security of on-chain assets.
Latest Developments in the Event
This platform is an important venue for trading Meme coins, providing comprehensive services such as trading, liquidity, project launching, staking, and lending for Meme-type tokens, thereby building a complete Meme financial ecosystem. Its daily trading volume has long been among the top in decentralized exchanges.
Preliminary investigations show that hackers are still continuously transferring user assets. Technical analysis reveals serious security vulnerabilities in the platform:
The platform founder responded on social media, stating that due to special reasons, they are temporarily unable to synchronize the latest situation and requested more time to address the matter. Previously, the official announcement indicated that the team is working hard to resolve the issue and is not exiting. The founder promised to compensate users for their losses and has isolated some user accounts.
However, as the amount stolen continues to rise, most users are skeptical of the platform's promises, believing it may be a case of insider theft. User trust in the platform has plummeted.
Analysis has pointed out that the platform and other trading robots have significant security risks. The community has discovered that when exporting the platform's private key, the private key is presented in plain text, which means that user private keys are actually stored on the official server. Even with HTTPS transmission, direct transmission of the private key may lead to privacy data leaks due to other security issues.
In addition, some wallet applications have pointed out that the platform has been requesting "upload user clipboard content" permissions, which may have uploaded users' clipboard content. Users are advised that if they have copied private keys or mnemonic phrases on their phones, they should transfer their assets as soon as possible.
Impact on the Meme Coin Market
According to market data, several Meme coins may have experienced varying degrees of decline due to this event:
It should be emphasized that this hacker attack incident is not over yet. If the platform's security team cannot resolve the issue in a timely manner, hackers may continue to steal user assets. As of the 17th, based on information from over 500 victims, it has been confirmed that at least 13 million dollars have been stolen. However, the actual losses may far exceed this figure, as a large number of recently popular Meme coins and other tokens were stolen, in addition to stablecoins.
Special reminder, on-chain Meme coins, especially those with low liquidity, are all considered high-risk assets.
It is worth noting that a Web3 security team has stated that the hacker has not yet transferred the stolen funds. They analyzed about 2,800 victim addresses and more than 9,000 stolen transactions, finding that the stolen funds are still held in addresses controlled by the hacker.
This means that the ultimate goal of the Hacker has not yet been revealed, like a sword hanging overhead. No one knows whether these Meme coins will be suddenly sold off. Coupled with the common chase-up and kill-down sentiment in the Meme coin market, this incident could have an incalculable impact on Meme coins and even the entire crypto market. It could lead to many Meme coins going to zero, severely damaging the recently heated Meme sector, thereby affecting the vitality and confidence of the entire crypto market.
How to Safely Custody Funds
Meme coin is undoubtedly a hot spot for wealth creation in the current market, on-chain transactions and the use of automated tools have become the norm for users. Considering that several projects have previously encountered theft, and this incident will not be the last, the industry needs to remain highly vigilant about security issues, and investors must always ensure the safety of their assets.
Here are some suggestions to protect your funds.
Store assets using a hardware wallet: Choose mainstream hardware wallets like Ledger, Trezor, etc., and ensure the firmware is up to date. Properly safeguard your mnemonic phrase and avoid digital storage.
Decentralized Asset Storage: Distribute funds across multiple wallets to avoid concentration in a single address or exchange. It is recommended to store major assets in cold wallets and keep a small amount of trading funds in hot wallets.
Choose a decentralized custody solution: prioritize verified true decentralized custody options, such as multi-signature wallets that require approval from multiple parties to enhance security.
Review platform security: Confirm whether the platform conducts regular third-party security audits and timely rectifications. Understand the platform's fund custody mechanism, such as the ratio of hot and cold wallets, multi-signature protection, etc.
Purchase insurance or participate in decentralized risk hedging: Consider purchasing crypto insurance against Hacker attacks.
In addition, please pay attention to the following security tips:
Finally, it is recommended that everyone relearn relevant security knowledge and remain vigilant. In the risk-filled environment of blockchain, security is always the primary consideration.