Executive Order on Digital Assets

U.S. President Joe Biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies.

The measures focus on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion and responsible innovation.

The Biden administration also wants to explore a digital version of the dollar.

Bacon Protocol Reentrancy - $1 million

Bacon Protocol was hacked. The Bacon Protocol introduces a new way for crypto wallet holders to hold a coin backed by mortgages similar to those used by banks, insurance companies, and governments.

Reportedly $1M Lost. The hack was made possible due to a reentrancy bug in the lend() routine so that the hacker can get more lending credits via re-entering the lend() routine

The issue was found quickly. The contract has been patched and is being reaudited.”

A new bug was introduced in the patch: https://twitter.com/danielvf/status/1501926505349357576?s=21

Fantasm Finance Hacked - $2.7 million

Fantasm Finance Tweeted and informed the community that there is an urgent announcement people should redeem their XFTM. FTM collateral reserve has been exploited, there is still 1,820,012 FTM pool balance remaining currently for redemption

The attackers were able to mint way more $XFTM tokens than they are supposed to and has swapped all of the tokens to ETH. Total loss is around ~$2,700,000 (1,000 ETH).

The exploiter took advantage of the fact that the Fantasm Mint contract ignores _minFtmIn when minting xFTM. They only consider _minFantasmIn (a few % of the required collateral).

What this allows an exploiter to do is provide only FSM and the wFTM fee required by the contract to mint xFTM. The original exploiter abused this to mint and dump large amounts of xFTM, dumping this for FTM which led to a crash in the xFTM price.

Pirate X Staking Contract Attack

A purported hacker breached the $PXP/$GOLD conversion feature and was able to replicate multiple instances of $PXP conversion before selling off, between 21:13–21:14 UTC, a total of $PXP 9,681,000 which is accounted to 0.9681% of the total supply.

PXP Team has bought back the total of $PXP 9,681,000 which will be returned to the reward pool.

The attacker dumped and received about 212 BNB (~$80,000).

Fake Nvidia GPU Mining Fix Was Malware

A tool released on GitHub advertised the sought-after ability to unlock the full Ethereum mining capabilities of recent Nvidia RTX graphics cards but actually contains malware.

Importantly, according to Tom’s Hardware, the tool doesn’t even perform its namesake function of removing the cap on the hash rate for your GPU. Instead, it apparently infects your system and causes a host of other unusual behavior, like high CPU usage, checking for system drives and other things that should — and did — raise some red flags