Sentient Explorer Attackers Steal Over $1 Million in ETH: How to Keep Your Investments Safe
According to reports, according to the Beosin EagleEye security risk monitoring, warning, and blocking platform monitoring under the blockchain security audit c
According to reports, according to the Beosin EagleEye security risk monitoring, warning, and blocking platform monitoring under the blockchain security audit company Beosin, as of now, Sentient Explorer attackers have sent 465.75ETH to the address 0xc5fc2Cbf32C09F89F91Caf2023884729116eA5D1, which was then sent to the multi signed contract 0x7582BC8402865c57bC55320B2a3Fe8EaC46C233C. This portion of ETH is worth approximately $880000 and is suspected to have been returned to the project party. In addition, 51ETH was sent to Tornado. Cash by the attacker, with a value of approximately $96000. Previously, Sentient suffered an attack and lost a total value of 517 ETH, approximately $1 million.
Security company Sentiment attacker returns approximately $880000 in funds
As the popularity of cryptocurrency grows, so does the threat of security breaches, thefts, and attacks. Recently, news broke that Sentient Explorer, a blockchain platform that provides algorithmic trading services, suffered an attack that resulted in the loss of over $1 million worth of ETH. According to reports, as of now, the attackers have sent 465.75ETH to the address 0xc5fc2Cbf32C09F89F91Caf2023884729116eA5D1, which was then sent to the multi signed contract 0x7582BC8402865c57bC55320B2a3Fe8EaC46C233C. This portion of ETH is worth approximately $880,000 and is suspected to have been returned to the project party. In addition, 51ETH was sent to Tornado. Cash by the attacker, with a value of approximately $96,000. If you are a cryptocurrency investor, it is important to understand the potential risks and vulnerabilities of the industry, and what you can do to protect yourself.
The Rise of Cybersecurity Risks in the Cryptocurrency World
The growth of cryptocurrency has been astounding over the past few years. As consumers and businesses alike have come to value the advantages of decentralized currency, cryptocurrency investment has soared. However, with this increased demand comes an increased risk of cyber attacks. Cryptocurrency exchanges and platforms are particularly vulnerable to hacking attempts, as these entities are responsible for managing large amounts of digital assets. In addition, the anonymity of cryptocurrency transactions has made it more challenging for authorities to track down and prosecute attackers.
Sentient Explorer’s Attack: A Cautionary Tale
The recent attack on Sentient Explorer is just one example of the dangers facing cryptocurrency investors. With over $1 million lost, this breach serves as a wake-up call to anyone who has invested in cryptocurrency. While there is no foolproof way to ensure security, there are steps investors can take to minimize their risk.
5 Tips for Keeping Your Cryptocurrency Investments Safe
1. Use a reliable and reputable cryptocurrency platform: When selecting a platform to buy, sell, or trade cryptocurrency, it is essential to do your research. Choose a reputable platform that has security features in place and a track record of keeping its customers’ assets safe.
2. Keep your private keys secure: Your private keys are the only way to access your cryptocurrency holdings. It is crucial to keep these keys safe and not share them with anyone. Consider storing them in cold storage, which keeps them off the internet and less vulnerable to attacks.
3. Enable two-factor authentication: Two-factor authentication adds an extra layer of security to your account by requiring you to enter a code in addition to your password. This code is sent to your phone, making it much more challenging for attackers to gain access to your account.
4. Stay vigilant: Keep an eye out for suspicious activity on your account. If you notice anything unusual, such as unexpected transactions or changes to your account information, report it immediately.
5. Diversify your investments: Investing in a variety of cryptocurrencies spreads your risk across different assets, reducing the impact of any individual attack.
Conclusion
With the rise of cryptocurrency comes an increase in cybersecurity risks. The recent attack on Sentient Explorer serves as a cautionary tale to anyone who has invested in this industry. While there is no way to ensure complete security, following the tips outlined above can help reduce your risk and keep your investments safe.
FAQs
1. Is cryptocurrency a safe investment?
Cryptocurrency is a growing industry with significant potential for return. However, there are inherent risks associated with investing in a relatively new and unregulated market. Investors should do their due diligence and weigh the potential returns against the risks.
2. How common are cyber attacks on cryptocurrency platforms?
Cyber attacks on cryptocurrency platforms are becoming increasingly common. In 2019, there were over 12 major cryptocurrency hacks, resulting in approximately $300 million worth of losses.
3. Can cryptocurrency be insured against theft or loss?
Some insurance companies are starting to offer coverage for cryptocurrency theft or loss. However, the availability and coverage of such policies vary widely. It is essential to research and understand the terms and conditions before investing in this type of coverage.
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